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Naira abuse: EFCC secures convictions of 31 Kano residents in three months

The Economic and Financial Crimes Commission (EFCC) says it has secured the convictions of 31 residents of Kano State in respect of the Naira abuse, among other related offenses.

The EFCC disclosed this in a statement published on its website on Saturday, May 18, 2024.

The anti-graft agency described the convictions as proof of its enforcement of relevant regulatory guidelines in the laws of the land.

One of such laws is Section 21(1) of the Central Bank Act 2007, which states that a person who tampers with a coin or note issued by the apex bank is guilty of an offence and shall on conviction be liable to imprisonment for a term not less than six months or to a fine not less than N50,000 or to both such fine and imprisonment.

The EFCC says it will continue to carry out the prosecution of anyone who abuses the Nigerian currency or commits a financial crime.

It stated,

The anti-graft body revealed that the convicts were apprehended at various locations in Kano, including Wapa BDC Market, Grand Central Hotel and Lagos Street adjacent to Central Bank of Nigeria.

The statement read further: