In a recent operation, the Kano Zonal Command of the Economic and Financial Crimes Commission (EFCC) apprehended 11 individuals suspected of participating in a scheme to sell new naira notes for profit. The arrests took place on Monday, February 19, 2024, after a successful intelligence operation uncovered a network of fraudsters conducting illicit activities near the Central Bank of Nigeria on Lagos Street in Kano.

Among the arrested individuals, five were caught in the act of selling new naira notes to the public. Additionally, six bankers allegedly involved in supplying the currency to the sellers on a commission basis were also taken into custody. Following the investigation, all suspects are expected to face charges in court.