Fidelity bank banner Bayelsa State banner
Police arrests sellers of newly minted naira notes in Onitsha

By News Express on 26/12/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 614

•Anambra Police Commissioner Garba Umar
•Anambra Police Commissioner Garba Umar

Selling newly minted naira notes is an offence that attracts six months imprisonment and seven suspects are now in police net for trading and hawking newly minted naira notes in Onitsha, Anambra State.

According to the State Commissioner of Police, Mr. Garba Umar, the Central Bank of Nigeria, CBN, has raised alarm over the illegal activity going on for a while now unchecked and calls for swift action to arrest the culprits who even brazenly display them in public as a product.

Mr. Garba while addressing the press over the matter cites sections 20 and 21 of the CBN Act that makes it an offence for anyone to sell or hawk naira or coin issued by the Central Bank of Nigeria, cautions citizens to desist from abusing the naira and says those arrested will be prosecuted.

At the Anambra State Police Headquarters in Amawbia, seven suspects have been paraded by the police for illegal trading and hawking of newly minted notes in Onitsha.

The police upon arresting the suspects on December 21st also recovered over four million naira newly minted notes.

Mr. Garba stated that seven people were with two at large, who are neck-deep in the activity and says they will be prosecuted.

One of the suspects speaking on his involvement in the nefarious activity says he does not know the source of the newly minted notes as he buys from a dealer.

Festive periods always come with activities with people engaging in free spraying of money which may warrant one looking for newly minted money, the Commissioner of Police says the CBN is serious with ending the illegality of people trading on naira and anybody found engaging in the business will be prosecuted, adding that aggressive investigation is going on to find out who is the source of the distribution of the newly minted money either from the bank or wherever. (Channels TV)

Source News Express

Posted 26/12/2017 8:14:33 PM


Share on facebook Yahoo mail icon Gmail icon Share on Google+




You may also like...
10 shot as bullets fly at Ogun APC...

BREAKING: Victor Moses dumps Nigeria for Chelsea

Buhari sacks Chike-Obi as AMCON MD, appoints Kuru...

Malnutrition a major cause of death among women,...

Hong Kong oil firm to establish Nigeria’s second...

Cricket star Virat Kohli named Remit2India Brand Ambassador...

‘The Platform’ debuts Friday in News Express

Troops destroy 74 illegal refineries in the Niger...

Family reveals real cause of Muhammad Ali’s death...

Oyo Guber: Witch doctors deceiving Ex-Governor Ladoja, says...

Ijaw group raises alarm, says wanted militant still...

Niger Delta militants to attack Kaduna: El-Rufai


Latest News A professional in the saddle BREAKING: Queen of Soul Aretha Franklin, ‘greatest singer of all time’, dies at 76 Godswill Akpabio’s defection to APC shocked and confused me — Elder brother, Isong Akpabio •Says defection cannot make APC win Akwa Ibom FG close to breakthrough on Leah Sharibu’s release — Presidency •Clears air on Daura’s status Woman pushes friend off bridge NYSC releases names of 9 drowned corps members Why 2019 elections will be Nigeria’s most expensive — INEC MASSOB drops threat to disrupt conferment of chieftaincy title on Ganduje Whistleblower: 5,000 tips received, N11bn recovered — Adeosun Naturalised Americans in danger of losing citizenship as Federal officials review thousands of cases Chinese firm to invest in Nigeria’s digital economy, education Demolition Notice: Ayefele’s house contravenes planning laws — Oyo Govt


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (377,432 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (366,460 views) Shameless Genevieve Nnaji exposes breasts in public (296,151 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (241,750 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (222,513 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,033 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (192,471 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (174,648 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (159,567 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,219 views) Lagos plane crash: Journalist releases victims’ names (152,643 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (142,964 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,452) Business Verdict (48) Columnists (910) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (528) Features (633) Global Business Monitor (294) International (2,274) Interview (161) Live Commentary (28) Love Matters (134) News (38,048) Opinion (1,057) Pidgin (11) Politics (6,054) Religion (816) Sports (1,646) Stock Watch (33) AMA & Al Jazeera Global Update


CBN banner

Firstmobile banner




Real Madrid vs Atletico Madrid 2-4 Highlights and Goals


APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera