DSS arrest syndicate selling new naira notes, fingers bank officials 

The Department of State Services, DSS, has arrested some members of an organised syndicate selling the new naira notes in parts of the country.

Although the DSS did not disclose the names and locations of the suspects, the agency said in a statement yesterday that some commercial bank officials were aiding and abetting the act.

This comes against the backdrop of the unleashing of the anti-corruption agencies, the Economic and Financial Crimes Commission, EFCC, and the Independent Corrupt Practices Commission, ICPC, on the banks by the Central Bank of Nigeria, CBN, over alleged hoarding and diversion of new notes.

A statement signed by the Public Relations Officer of the DSS, Dr. Peter Afunanya, warned that the secret police will go after those involved in the malfeasance.

The statement read: “The Department of State Services, DSS, hereby informs the public that it has intercepted some members of organised syndicates involved in the sale of the new re-designed 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.

READ ALSO Frustration In Banks As Nigerians Lament Absence Of New Notes In ATM Machines, N20,000 Cash Withdrawal Limits 

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”.

Customers’ frustration over new Naira notes continues

Meanwhile, despite the extension of the deadline for circulation of the cessation of old naira notes as legal tender affecting N1000, N500 and N200 denominations to February 10, bank customers have continued to face frustrations in accessing the new notes, as most of the Automated Teller Machines, ATMs, in the capital city were largely empty.

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