DSS arrests members of syndicates selling new naira notes

The Department of State Services ( DSS) has arrested some members of organised syndicates involved in the sale of the newly redesigned naira notes.

Peter Afunanya, the DSS public relations officer, said in a statement on Monday that syndicates connived with some commercial bank officials and were arrested during the secret police’s operation across the country.

“The Department of State Services (DSS) hereby informs the public that it has intercepted some members of organised syndicates involve /d in the sale of the newly redesigned naira notes,” the statement reads.

“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 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.”

On Sunday, TheCable reported how the Central Bank of Nigeria (CBN) has finally extended the deadline for the swap of old naira notes at commercial banks by 10 days.

Earlier before the extension, Nigerians had complained about the inability to swap their old notes for the new designs as the January 31 deadline came close.

Also, there were queues observed across banks’ ATM machines induced by the new naira notes>.