Wednesday, July 24, 2024-Operatives of the Kano Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested a banker, Kamaluddeen Lawal and three businessmen for allegedly recycling and manipulating contents of Naira notes.
The other suspects are Ismail Ibrahim
Ilu, Lamido Bala and Abba Mohammed.
A statement released by the antigraft
agency says the suspects were arrested at Unity Road, Kantin Kwari market,
Kano following credible Intelligence on the activities of some
individuals suspected to be trafficking huge sums of money in cash.
‘’Investigations showed that the
suspects specialized in obtaining mutilated Naira notes from various banks with
the sole purpose of removing a few notes from each bundle and depositing them
in their bank accounts with a particular bank where their banker accomplice
would receive the money as the original amount.
The suspects were perpetrating the fraud by
going to their respective banks and asking for a certain denomination (in this
case N200 Notes) and carefully removing a few notes from each bundle.
They would then take it to their accomplice at the bank who would collect the
money and make entries as filled in the tellers without counting them on the
agreement that they would later give him his share of the money they removed.''
a statement from the commission reads
The agency says at the point of
arrest, a total sum of N7,500,000.00 (Seven Million, Five Hundred Thousand
Naira) was recovered from them.
The suspects would be charged to
court upon conclusion of investigations.
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