Bank officials indicted as DSS arrests syndicates selling new naira notes


New Naira Syndicates have been arrested.

The Department of State Services (DSS) has apprehended members of syndicates involved in the sale of redesigned naira notes.

Monday, January 30, 2023, Peter Afunanya, the secret police’s Public Relations Officer (PRO), issued a statement containing this information.

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The statement reads in part, “During the course of its operations in certain regions of the country, it was discovered that certain Commercial Bank officials are aiding economic malfeasance.


Therefore, the Service warns the currency racketeers to cease this dishonourable behaviour. In a similar vein, regulatory authorities are urged to intensify monitoring and supervision activities to swiftly address emerging trends.

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“It should be noted that the Service has ordered its Commands and Formations to take additional steps to identify all individuals and groups involved in the illegal sale of the notes.


Therefore, anyone with relevant information is encouraged to share it with the appropriate authorities.


This news arrives less than twenty-four hours after the Central Bank of Nigeria (CBN) announced the extension of the old currency until February 10, 2023.

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