The Oyo State Command of Nigeria Security and Civil Defence Corps, NSCDC, and officials of the Central Bank of Nigeria, CBN, have arrested ten people for hawking and selling new naira notes.
The suspects paraded at the NSCDC Oyo command headquarters, Ibadan, are Olanrewaju Adepoju, Obisesan Olalekan, Eniola Waheed, Kunle Oladipupo, Tijani Abiodun, Dotun Wahab, Gbenga Omawaye, Samson Ojewola, Akintola Gboyega and Anifat Abiodun.
He further disclosed that a total of N1,010,040 consisting of various denominations was recovered from the suspects, adding that three of the sponsors of the suspects had also been arrested.
The operation, he said, was in line with the provisions of Section 20 and 21 (1) of the CBN Act 2007 which made hawking, selling and abuse of naira a punishable offence, such that those convicted were liable to a jail term of six months or fine of N50,000 or both.
He said the NSCDC would be embarking on other sting operations to arrest abuse of the naira ranging from spraying at parties to soiling, writing on it, squeezing, handling and counterfeiting the notes.
One of those arrested, Wahab Dotun, said he had been in the business for eight years, operating at Agodi Gate area of Ibadan, while he got the funds from a supplier at Iwo Road.
Dotun added that for every N1,000, which he bought at N1,100, he made a gain of N100 by selling at N1,200.