DSS apprehends persons selling new naira notes, warns bank officials aiding criminals


DSS apprehends persons selling new naira notes, warns bank officials aiding criminals

Officers of the Department of State Services (DSS) on Monday arrested an undisclosed number of persons involved in the sale of the new naira notes.

It could be recalled that on 23 November 2022, President Muhammadu Buhari unveiled the new naira notes of N200, N500, and N1,000, and CBN Governor, Godwin Emefiele, said the redesign will help security agencies monitor the usage of the naira and help fight corruption.

READ ALSO: CBN bows to pressure, extends use of old Naira notes till February 10

The DSS, in a statement on Monday by its spokesman, Peter Afunanya, accused some commercial bank officials of aiding the crime.

The statement was titled, ‘DSS intercepted syndicates selling new currency notes, bank official implicated’.

It read, “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 the act. Appropriate regulatory authorities are, in this same vein, urged to step up monitoring and supervisory activities to expeditiously address the emerging trend.

READ ALSO: How not to redesign the naira, by Hassan Gimba

“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.”

Recalled that the Central Bank of Nigeria extended the swapping dateline for redesigned naira notes to 10 February 2023.

Nigerians have complained about the scarcity of new notes in circulation as commercial banks and POS vendors still transact with old naira notes.


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