Six members of a syndicate involved in illegal currency trafficking were arrested on Friday at Oshodi and Lagos Island areas of the state.
According to Police statement, the syndicate was smashed in a joint operation by the police and officials of Central Bank of Nigeria (CBN). The suspects were caught with N855, 290 in N20, N50 and N200 denominations.
“The suspects violated Section 21, sub-section (4) of the Central Bank of Nigeria Act, 2007 and shall be brought to justice accordingly.
“It’s a punishable offence for any person to hawk or trade the Naira notes, coins or any other note issued by the Central Bank of Nigeria. It is also an offence to spray, dance or match on the Naira note or any note issued by the Central Bank of Nigeria during social occasions,” said the new Lagos Police spokesman, Famous Cole.
The Command advised the general public to desist from engaging in this illegality, as violators shall be made to face the full wrath of the law.
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