DSS Detain Syndicates Trading in New Naira Notes

DSS Detain Syndicates Trading in New Naira Notes

Some members of organized syndicates involved in the sale of new naira notes have been arrested by the Department of State Services (DSS).
This is coming a day after the Central Bank of Nigeria (CBN) extended the deadline to swap the old naira notes for the new notes to the 10th of February.

The spokesman of DSS in a statement released on Monday said the alleged syndicates who connived with some commercial bank officials were arrested.

DSS Detain Syndicates Trading in New Naira Notes

The statement reads, “The Department of State Services (DSS) hereby informs the public that it has intercepted some members of organized syndicates involved in the sale of the newly redesigned naira notes.

“In the course of its operations, in this regard in parts of the country, it was also established that some Commercial Bank officials are aiding the economic malfeasance.

DSS Detain Syndicates Trading in New Naira Notes

“Consequently, the Service warns the currency racketeers to desist from this ignoble act. Appropriate regulatory authorities are, in this same vein, urged to step up monitoring and supervisory activities to expeditiously address emerging trends.

“It should be noted that the Service has ordered its Commands and Formations to further ensure that all persons and groups engaged in the illegal sale of the notes are identified. Therefore, anyone with useful information relating to this is encouraged to pass the same to the relevant authorities.”

Also Read: Old Naira Deadline: CBN Updates Nigerians