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4 Caught Selling New Naira Notes Released By Corrupt CBN Officials Land In DSS Net

new naira notes seller tinubu square lagos

January 10, 2018 – 4 Caught Selling New Naira Notes Released By Corrupt CBN Staff In Ojuelegba & Tinubu Square Lagos Land In DSS Net

DSS & Police operatives have arrested four persons, including a woman, over an alleged illegal sale of Nigerian currency (Naira) in Lagos State.

The Police Public Relations Officer in the state, SP Chike Oti, disclosed this on Wednesday in Lagos.

Oti said the suspects were arrested at Ojuelegba and Lagos Island while selling new Naira notes.

He said that the Sting Operation was carried out in collaboration with officials of the Central Bank of Nigeria (CBN).

The spokesman stated that the suspects violated Sections 20 and 21 of the CBN Act that made selling or hawking of Naira notes an offence.

He said that the act of spraying Naira notes at occasions, soiling, writing, squeezing as well as hawking and selling it were also abuse of the Naira.

He emphasised that Naira is one of the symbols of national identity which must be treated with respect by Nigerians.

Four suspects, comprising three men and one woman were arrested at Ojuelegba and Tinubu Square, Lagos Island, during a raid supervised by the Commissioner of Police in Lagos State.

“A total sum of N759, 200 consisting of various denominations was recovered from the suspects.

‘‘Investigations have already commenced on the matter to ascertain the source or otherwise of the new Naira notes.

“The Nigeria Police, DSS and CBN will continue this clamp down on the perpetrators of this offence which is punishable under the CBN Act 2007 to a jail term, not less than six months or fine not less than N50, 000,” Oti said.

Oti appealed to the public to desist from abusing the Naira.




  1. iron bar

    January 11, 2018 at 12:35 AM many people have they arrested for spraying money in occassions

  2. Mon

    January 11, 2018 at 5:35 AM

    Person will travel down to Nigeria and the naira notes with those money changers at the airport will be looking so dirty,banks will be profiling who they will issue mint currency which has resulted to people seeing it as opportunity to trade on that.
    Head has rotten already.

  3. uzoma

    January 11, 2018 at 1:48 PM

    The government should spread their dragnet all across the country. I saw this myself on my visit to Nigeria in 2016. I went to the bank and the notes I received were like they were soaked in mud but on reaching outside right there in Douglas road Owerri, alas a girl approached me and asked if I want to buy Naira. At first I thought she is naught or she stole the money buy my cousin I went with told me that is what they do. The banks will give you very dirty money but on getting outside you will see someone selling freshly minted notes. I asked the lady how it works and she told me for N2,000 fresh mint I should pay N2,500. To make fun of her I asked her if the freshly minted notes she is selling will make food sellers give me more food than the person with the dirty notes the banks give out. She walked away. I went back inside and went straight to the cashier who gave me dirty Naira notes and asked her if the officials know what is going on, she sighed and shook her head in disgust. Corruption will be hard to eradicate in that country, it requires a concerted effort of everyone to fight it but those gaining from it will put up a stiff fight. A lot of Nigerians don’t like what is going on but the powers that be are doing everything possible to prevent moral cleansing.

  4. DB

    January 11, 2018 at 8:00 PM

    That means they will need millions of agents all over the country wherever there is a party, especially on Fridays and Saturdays to make arrests.

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