EFCC Busts Currency Racket in Kano, Arrests 11

The Kano Zonal Command of the Economic and Financial Crimes Commission (EFCC) has apprehended 11 suspects for engaging in currency racketeering in Kano State.

The suspects were taken into custody on Monday, February 19, 2024, following an intelligence-driven investigation that exposed a syndicate operating in proximity to the Central Bank of Nigeria (CBN) branch along Lagos Street in Kano metropolis.

The EFCC, in an official statement posted on its verified X handle, disclosed that the apprehended individuals were allegedly involved in the illicit sale of new Naira notes for commercial purposes.

During the operation, five members of the syndicate were caught in the act of selling new Naira notes to the public. Additionally, six bankers, accused of facilitating the sale by providing the Naira notes to the sellers on commission, were also apprehended.