DSS Arrests Sellers Of Redesigned Naira Notes, Warns Commercial Bank Officers

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DSS Arrests Sellers Of Redesigned Naira Notes, Warns Commercial Bank Officers
DSS Arrests Sellers Of Redesigned Naira Notes, Warns Commercial Bank Officers

The Department of State Services (DSS) on Monday said its officers have arrested an undisclosed number of persons involved in the sale of the newly redesigned naira notes.

According to a statement issued on Monday by the DSS spokesman, Peter Afunanya, some commercial bank officials were also involved in the crime described as economic sabotage.

BrandSpur Nigeria recalls that last year, the Central Bank of Nigeria (CBN) redesigned the N200, N500, and N1,000 denominations and gave January 31, 2023, as the deadline for the use of the old currency notes in Nigeria before extending the deadline yesterday to February 10, 2023.

The extension followed pressure from various quarters, including politicians and Nigerians, who complained bitterly of the scarcity of the new notes.

It was alleged that the redesigned banknotes were being sold to politicians and currency traders, who sell them at parties.

Worried by this development, the DSS swung into action and apprehended a syndicate accused of selling the new Naira notes.

DSS Arrests Sellers Of Redesigned Naira Notes

In the statement, the DSS said it has ordered its men and officers to fish out people and groups involved in the “illegal sale of the notes” as it was determined to “expeditiously address the emerging trend.”

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It warned those selling the banknotes to desist from such acts, appealing to members of the public “with useful information relating to this to pass the same to the relevant authorities.”

“The Department of State Services hereby informs the public that it has intercepted some members of organised 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.

“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 address the emerging trend expeditiously.

“It should be noted that the Service has ordered its Commands and Formations to ensure further 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,” the statement from the agency today said.