The Economic and Financial crimes Commission has deployed large number of operatives in banks across Nigeria to monitor the distribution of the new Naira notes.
The Network investigation revealed that the various zones of the EFCC have deployed operatives to work discretely with bank workers to track those involved in the rampant racketeering of the new Naira notes.
A source who spoke to the Network on the condition of anonymity said that the EFCC is focusing on anybody with large quantity of the new Naira notes.
The Network investigation revealed that bank officials across Nigeria are exploiting the scarcity of the Naira and the desperation by the public to access the new Naira note to sell it to willing buyers and abominable percentages.
There are videos of people ‘spraying’ large quality of the new notes in parties, wedding ceremonies and other in spite of the fact that Nigerians cannot access the new notes.
In Abuja, banks are under strict instruction to disperse the new notes only through the Automated Teller Machines.
Some of the ATM machines are programmed to pay N4,000 with N200 notes.
It was also observed that the queues for the new notes are getting longer.
Meanwhile the EFCC has nabbed some of those involved in the racketeering of the Naira in Abuja.
The Spokesman of the EFCC, Mr Wilson Uwujaren said in a statement that the EFCC also met with bank officials in connection with the issue.
He said that the commission arrested members of a syndicate of currency racketeers hoarding and trading with the redesigned Naira notes in separate operations in Zone 4 and Dei Dei Axis of Abuja.
He said that the EFCC operation was carried following intelligence “on activities of unscrupulous currency speculators who were exploiting desperate citizens by offering them the new Naira notes for foreign currencies at below the going rate.”
According to him the suspects made useful statements and confessed to the commission that they were acting in cahoot with officials of Money Deposit Banks.
“The Commission will extend the operation to all the major commercial centres of the country until all the syndicates involved in the illegal trade are demobilised. Financial system operators are also warned to desist from the sharp practices or risk arrest and prosecution.
“Zonal Commanders of the EFCC today, also met with officials of various banks in their Commands in an effort to ascertain the volume of the new notes issued to the commercial banks and how the banks were dispensing the monies to their customers.
“The Commanders urged the financial market operators to ensure compliance with the guidelines set by the Central Bank of Nigeria, while disclosing that they have dispatched operatives across their Commands to monitor the level of compliance by banks and other operators in the financial market.” He added
