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Banks working with syndicates to sell new naira notes – DSS

THE Department of State Services (DSS) says it has arrested some members of organised syndicates involved in selling the newly redesigned naira notes.
The security agency further disclosed that its operations across the country has established that some Commercial Bank officials are aiding the trade in the new currencies.
Spokesperson of the DSS Peter Afunnaya disclosed these in a statement on Monday, January 30.
“The Department of State Services (DSS) hereby informs the public that it has intercepted some members of organised syndicates involved in the sale of the new redesigned naira notes.
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”In the course of its operations, in this regard in parts of the country, it was also established that some Commercial Bank officials are aiding the economic malfeasance,” the statement said.
The agency warns the currency racketeers to desist from the act, or face the wrath the law.
“Appropriate regulatory authorities are, in this same vein, urged to step up monitoring and supervisory activities to expeditiously address the emerging trends.”
The DSS added that the it had ordered its Commands and formations to further ensure that all persons and groups engaged in the illegal sale of the notes are identified.
The agency urged anyone with useful information relating to the issue to pass the same to the relevant authorities.
The Central Bank of Nigeria (CBN) finally bowed to pressure on Sunday, January 29 and extended the deadline for swapping old naira notes at commercial banks.
CBN governor Godwin Emefiele announced that the new deadline is now February 10.
He added that Nigerians will still be able to deposit their old notes directly with the CBN until February 17, 2023.
The CBN has been under immense pressure from Nigerians calling for the extension of the January 31 deadline due to their inability to swap their old N200, N500 and N1000 notes for the new ones.


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