The Uyo Zonal Command of the Economic and Financial Crimes Commission (EFCC) made a significant breakthrough on Friday when they apprehended five individuals suspected of engaging in forex speculation.
The arrest took place at the Ama-Hausa mosque located on Hospital Road in Aba, Abia State. The EFCC confirmed this development in an official statement released on Monday.
The suspects, identified as Hassan Umaru, Haruna Umar Badamasi Abdullahi, Auwal Muhammed, and Kasimu Muhammed, were found in possession of various currencies at the time of their arrest.
The recovered currencies included 23,000 Korean Won, 52 Chinese Yuan, $6,500 Nippon Ginko (Japanese currency), 40 notes of Dalawampung Piso (Philippine currency), 20 Gambian Dalasis, 20 Swazi Lilangeni, and N382,000 in Nigerian Naira.
read Also: EFCC Transfers $22,000 Recovered from Fraud Convict to FBI
In addition to the seized currencies, law enforcement also confiscated seven mobile phones, a power bank, an air pod, and an ATM card. These items are believed to be connected to the suspects’ illicit activities.
The successful operation was the result of weeks of meticulous surveillance and intelligence gathering by the EFCC. The agency’s dedication and commitment to combating financial crimes played a crucial role in bringing these suspects to justice.
Once the investigations are concluded, the suspects will face charges in court.
This arrest serves as a stern warning to those involved in illegal forex speculation, highlighting the EFCC’s determination to maintain the integrity of the financial system and protect the interests of the public.
