Parading the suspects at the weekend, spokesman for the state command, DSP Ajayi Okasanmi, said that the arrest was informed by the need to enforce the provisions of Sections 20 and 21 of the CBN Act which makes selling and trading of the naira currency a punishable offence.
The suspects, he explained, were nabbed at various points in the state capital following intelligence report. Okasanmi said the police was now poised to enforce the terms of the CBN Act in order to ensure that Nigerians don’t treat the naira anyhow henceforth.
“The police and CBN will continue the clampdown on perpetrators of this offence which is punishable by law. The general public is warned on the consequences of spraying the naira notes on occasions, soiling, writing on the naira, squeezing and all other abuses of the Nigerian currency.
ALSO READ: Melaye raises alarm over alleged intimidation, billboards vandalisation
“The suspects will be charged to court at the conclusion of the investigation, while members of the public are advised to desist from acts of abuse of our naira as our currency is one of the symbols of our identity.”
The most senior of the suspects who appeared to be a coordinator of the group said they were working for a boss who was in charge of the business. Some of the suspects were observed to be teenagers who claimed they were ignorant of the CBN law and saw themselves as merely engaged in normal business.
Entrepreneurship is essentially about problem solving through creative thinking. Creativity is thinking outside of…
The CEO is the highest ranking officer of an organisation. There was a time…
THE African Development Bank (AfDB) has launched a new five-year Country Strategy Paper (CSP) for…
Many residents of Ekiti State are now gushing with indescribable joy over…
THEN Pharaoh said to his brothers, “What is your occupation?” And they said…
When vultures surround you, try not to die. Whether you are in business or you are…
This website uses cookies.