Commissioner of Police, FCT Mustafa Muhammad has said that the Police Command raided bureau De change operators as part of renewed effort of the Committee on the enforcement of sections 20 and 21 of the CBN Act, 2007 which prescribes the offence of selling, buying, spraying and squeezing of the Naira.
He said that the offences are punishable with six months’ imprisonment or N50, 000 fine or both upon conviction.
According to the CP, “The Committee wants to reiterate its unwavering stance and readiness to sustain its raiding of identified areas where naira is being abused.”
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He gave names of those arrested after the raid as Iliyasu Musa, Awua Felix, Mercy Otuma and Abdulwahab Kusa.
Aso speaking, the CBN acting Director, Corporate Communications Isaac Okorafor emphasized the CBN resolve to stop the illicit trading and trampling of the Naira.
He warned that the CBN together with the Nigerian Police would embark on a nationwide raid at wedding ceremonies and social events to arrest people who spray the Naira and couples who trample on the nation’s currency.
He further warned that soon newly wedded couple would be arraign for contravening sections 20 and 21 of the CBN Act.
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