Operatives from the Economic and Financial Crimes Commission (EFCC) in Enugu have arrested a man, Hussaini Ibrahim, in connection with a suspected currency racketeering scheme involving N460,000.
Ibrahim, who was apprehended by the EFCC’s Special Task Force on November 13, 2024, was linked to the illicit trade following a tip-off that led to his arrest in the Emenite area of Enugu metropolis. The suspect was found in possession of N460,000, all in N200 denominations, which authorities believe was part of an illegal currency manipulation operation.
The EFCC has stated that investigations are ongoing, and Ibrahim will face charges in court once the probe is concluded. The arrest comes amid heightened efforts by the Commission to clamp down on currency-related crimes, which have been a growing concern in the region.
In a statement, the EFCC reiterated its commitment to curbing illicit financial activities that threaten the nation’s economic stability. The Commission has urged the public to report any suspected currency racketeering or other financial crimes to help strengthen the fight against corruption.
As the investigation progresses, Ibrahim’s case serves as a reminder of the ongoing battle against illegal currency practices in Nigeria, particularly those that involve the illegal manipulation or exchange of Naira notes for profit.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate