Eight persons involved in illegal trading of Naira notes were arrested in Lagos by security agencies on Friday and Saturday.
A cash sum of N 2.4 million in different denominations used in the trade was recovered from them.
The Central Bank of Nigeria and other sister security agencies raided markets within Ikeja and environ.
Investigation was said to be going on to uncover the source of the notes.
The suspects, according to the Public Relations Officer of the Lagos Police Command, Mr. Bala Elkana, in a statement issued on Sunday, would be charged to court under section 20 and 21 of the CBN Act 2007.
According to him, the offence was punishable under the CBN Act.
He stated that it was an offence for anyone or group to hawk, sell or trade in Naira notes, coins or any note issued by the Central Bank of Nigeria.
Upon conviction, he said, the offenders would be liable to imprisonment for not less than six months or a fine not less than N50,000 or both.
“It is important for members of the public to note that acts of spraying the Naira notes at occasions, soiling and writing on the Naira, squeezing the Naira, as well as hawking and selling of the country’s currency notes, are abuses of the naira and are punishable by law.
“We all have a duty to protect the Naira as our currency forms part of the symbols of our national identity. The Command thereby appealed to the general public to report any person or group of persons seen abusing the Naira to the Police or any law enforcement agency,” Elkana said.
The suspects arrested are Adetoro Adijat ‘f’ 37 years old; Mahmoud Ayoola ‘f’ 42years old; Eze Madu ‘m’ 27 years old; Olorunfunmi Shakirat ‘f’ 38 years old; Akonji Julius ‘m’ 40 years old; Olalekan Kadri ‘m’ 23 years old; Akinsonya Abiodun ‘m’ 34 years old, and Adeniyi Yetunde ‘f’ 30 years old.
