EFCC Arrests Two for Hawking Naira Notes in Lagos

EFCC Arrests Two for Hawking Naira Notes in Lagos

The Economic and Financial Crimes Commission (EFCC) has arrested two individuals for allegedly engaging in Naira abuse by hawking currency notes in Lagos.

The suspects, identified as Adeoti Folake and Adewuyi Modupe, were apprehended by operatives from the Lagos Directorate 1 of the EFCC on Friday, March 21, 2025. They were reportedly caught in possession of large sums of money while illegally trading in Naira notes.

During the arrest, the EFCC recovered N3,850,000 from Folake and N1,600,000 from Modupe.

Hawking or mishandling the Naira is a violation of the Central Bank of Nigeria (CBN) Act, which prohibits the spraying, selling, or mutilation of the country’s currency. 

The suspects will be charged in court upon the conclusion of investigations