115 Currency Racketeers Nabbed in Enugu Sting Operation

The Economic and Financial Crimes Commission’s Enugu Zonal Command, in conjunction with a Joint Task Force comprising five teams from the Nigeria Police Force and three teams from the Nigeria Customs Service, has arrested 115 suspected currency racketeers in Enugu State..

According to a statement by Dele Oyewale, the spokesperson for the EFCC, 115 suspects were arrested during a sting operation in Ogui, Enugu State. The group consists of 113 males and two females..

According to him, the Commission acted on credible intelligence received about certain bureau de change operators, currency speculators, and street vendors involved in illegal foreign exchange and currency racketeers activities within that area.

The confiscated items include more than N110 million in cash, $8,368, £145, €2,725, and 900 South African Rand, in addition to 32,000 CFA Francs, 100 Turkish Lira, and 500 Mozambique Metical in various denominations.

The move, according to the Commission, aims at restoring integrity and strengthening the national currency.

During the operation, a safe left behind by a street vendor was recovered by Mr. Oyewale.

According to initial investigations, it has been discovered that some of the suspects are from the neighboring country of Niger Republic..

The Central Bank of Nigeria (CBN) has urged Nigerians to reduce their demand for foreign exchange (forex)..