Police arrest 7 over illegal sale of mint notes, confiscate over N4 million

confiscated mint naira notes

The Police officials arrested seven persons in Onitsha, Anambra State for selling illegal mint naira notes.

Commissioner of Police, Mr Garba Umar, who paraded the suspects before journalists, said the suspects were engaging in an act that was illegal and punishable under the Central Bank of Nigeria act.

Umar said the suspects were arrested in a sting operation after officials of the CBN complained about the activities of the hawkers.

He said, “The Purpose of this briefing is to inform you on the arrest of persons over illegal sale and hawking of Naira notes (Mint).

“On Wednesday, December 20, 2017, at about 1300hrs the Command in collaboration with the Department of State Security (DSS) and the Central Bank of Nigeria (CBN) carried a sting Operation, aimed at forestalling illicit sale of Naira Notes (Mint).”

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He said the clamp-down on the suspects was hinged on the CBN Act, section 20 and 21, in which Section 20 subsection 4, makes it an offence punishable by a term of imprisonment not less than five (5) years for any person to falsify, make or counterfeit any Bank Notes or coin issued by the Bank.

confiscated mint notes