The Economic and Financial Crimes Commission (EFCC) has apprehended Simon Bassey Idio on charges of currency racketeering in Uyo. Dele Oyewale, the spokesperson for EFCC, disclosed this development in a statement released to journalists in Abuja.
EFCC’s spokesperson, Oyewale, revealed that the 59-year-old ‘Naira Trader’ was apprehended at the Ibom Tropicana Mall, Udo Udoma way in Uyo, Akwa Ibom State.
Oyewale mentioned that Idio’s arrest follows intelligence and surveillance operations, which shed light on his illicit cash transactions involving both local and foreign currencies within the state.
During the arrest, Idio was found in possession of N700,000 in new naira notes, comprising 12 bundles of N500 notes amounting to N600,000, and a bundle of N1000 notes worth N100,000.
Idio confessed to the charges laid against him and is set to face legal prosecution in the imminent future, as stated by Oyewale.
