DSS Intercepts Bank Officials, Syndicates Selling New Naira Notes

The Department of State Services (DSS) said it has intercepted bank officials among the syndicates, who specialised in trading in the new currency notes around the country.

Making the revelation in a statement on Monday, the DSS spokesperson, Dr. Peter Afunanya, said some members of organised syndicates were involved in the sale of the new redesigned naira notes.

He also said in the course of the DSS operations, it was also established that some commercial bank officials were aiding the economic malfeasance.

Though the Service did not mention the states or commercial banks involved, it warned the currency racketeers to desist from the ignoble act.

It also called on appropriate regulatory authorities to step up monitoring and supervisory activities to expeditiously address the emerging trends.

“It should be noted that the Service has ordered its commands and formations to further ensure that all persons and groups engaged in the illegal sale of the notes are identified. Therefore, anyone with useful information relating to this is encouraged to pass the same to the relevant authorities,” Afunanya stated.

Recall that the Central Bank of Nigeria (CBN) had on Sunday extended the deadline for the swapping of old naira notes with the redesigned ones till February 10, 2023, with additional seven days.

However, LEADERSHIP investigations revealed that some banks within the FCT have refused to pay either the new notes or the old ones.

This has made it difficult to transact businesses as some businesses like commercial motorists require physical cash to engage in their daily business.