The Economic and Financial Crimes Commission (EFCC) says it has arrested one Simon Bassey Idio over alleged currency racketeering in Uyo.
Its Spokesperson, Dele Oyewale, said this in a statement made available to newsmen on Monday in Abuja.
According to him, the 59-year old ‘Naira Trader’ was arrested on Friday at the Ibom Tropicana Mall, Udo Udoma way in Uyo, Akwa Ibom State.
Oyewale said that Idio’s arrest came on the heels of intelligence and surveillance regarding his illegal cash dealings in local and foreign currencies within the state
“He was caught selling N700,000 new naira notes in two denominations: 12 bundles of N500 notes totalling N600,000, and a bundle of N1000 notes totalling N100,000.
“Idio confessed to the crime and would be charged to court soon,” he said.