The Economic and Financial Crimes Commission (EFCC) has arrested one Simon Bassey Idio over alleged currency racketeering in Akwa Ibom State.
The EFCC’s Head of Media and Publicity, Dele Oyewale, disclosed this in a statement on Monday in Abuja.
He said the 59-year-old was arrested at the Ibom Tropicana Mall, along the Udo Udoma Way in Uyo on Friday.
Oyewale said Idio’s arrest followed intelligence on his illegal dealings in local and foreign currencies in the state.
The spokesman said: “He was caught selling N700,000 new naira notes in two denominations: 12 bundles of N500 notes totalling N600,000, and a bundle of N1000 notes totalling N100,000.
“Idio confessed to the crime and will be charged to court soon.”