LIVE UPDATES
The Economic and Financial Crimes Commission (EFCC) has set up a task force to tackle dollar speculators, hoarders, and racketeers.
The Commission formed 14 Special Task Forces operating across its Zonal Commands nationwide.
The Head of Media and Publicity of the EFCC, Mr. Dele Oyewale made the revelation on Wednesday that the agency has initiated arrests of several dollar racketeers in Lagos, Port Harcourt, and Kaduna.
Mr Oyewale added that the commission has summoned owners of universities and institutions charging fees in dollars for questioning.
The EFCC Executive Chairman Ola Olukoyede inaugurated the Special Task Forces with the mandate to enforce existing laws against currency mutilation and the dollarization of the economy, aiming to safeguard against abuses, leakages, and distortions that could destabilize the economy.
While the EFCC did not disclose the total number of arrests made, it confirmed that suspects are currently undergoing interrogation.
In a separate operation, operatives of the EFCC's Kaduna Zonal Command arrested three individuals suspected of currency racketeering. The Kaduna police arrested the suspects; Musa Gideon, Abdul Seidu Adamu, and Justine Musa while they were trying to sell new Naira notes to an undercover EFCC operative along Yakubu Gowon Way, Kaduna. The operation, part of the Special Task Force's efforts, led to the seizure of N1,307,400 in both new and old Naira notes, along with multiple Automated Teller Machine (ATM) cards.
According to the EFCC, the suspects will face charges in court once investigations are completed, underscoring the agency's commitment to keeping the law and safeguarding the integrity of the nation's economy.
