Operatives of the Economic and Financial Crimes Commission (EFCC) Uyo Zonal Command have arrested one Simon Bassey Idio for currency racketeering in Uyo, Akwa Ibom State.
EFCC apprehended the 59-year-old suspect, also identified as a “Naira Trader,” on Friday, February 9, 2024, at the Ibom Tropicana Mall, situated along Udo Udoma Way in Uyo.
As per the statement issued by Dele Oyewale, the spokesman for the EFCC, Idio’s arrest was brought about by continuous surveillance of his illicit cash transactions involving local and international currencies in the state.
Idio was discovered to be in possession of N700,000.00 (seven hundred thousand naira) worth of new Nigerian cash at the time of his arrest.
Twelve bundles of N500 notes, totaling N600,000.00 (six hundred thousand naira), and one bundle of N1000 notes, totaling N100,000.00 (one hundred thousand naira), were among the cash that was seized.
Idio confessed after questioning to having possession and sold the seized banknotes, as well as to his role in the illicit money racketeering. He added that he was aware that what he was doing was against the law. [CONTINUE READING HERE]
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