THE Edo state police during the weekend in Benin seized over N12.5 million from illicit dealers of crispy naira notes. Seven suspected currency dealers who allegedly ran afoul of the Central Bank of Nigeria (CBN) law were arrested by the police.
The Commissioner of Police, Mr Babatunde Johnson Kokumo who paraded the suspects at the Edo State Police headquarters in Benin told journalists that the suspects did not only involved in sales of currency notes but also specialised in counterfeiting the naira notes.
The loot which included all the naira denominations of N5, N10, N20, N50, N100, N200, N500 and N1,000 contained a counterfeit of N42,000.
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He gave the name of the suspects as, Fankling Izukwu, Bright Mugbeyogho, Obi Alex, Elvis Iyomana, Osazee Osagede, Mrs Victorial Igbinosa and Miss Deborah Uwa.
He said the police was carrying out the presidential order of prohibiting the illicit sales of naira notes as enshrined in section 20 and 21 of the Central Bank of Nigeria Act No7,2007.
Kokumo said the offence attracts punishment of not less than six months imprisonment or a fine of not less than N50,000.
He said: “During the exercise, N12, 580,235 were recovered from the suspects. We will investigate the matter because we believe that they are not acting alone and the investigation will be extended to a commercial bank in Benin metropolis and beyond.”
While assuring that the police will fish out crooked bankers who connive with the dealers to obtain new noted, the police boss disclosed that the arrest was made in collaboration with officials of the Department of State Security (DSS) and the apex bank.
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