EFCC arrested two for selling Naira’s notes, using more than N5M

The Economic and Financial Crime Commission (EFCC) has arrested two women in Lagos for allegedly involved in the illegal sales of Naira Notes.

The suspects, who were identified as Adeoti Fulake and Adewuyi Modupe, were arrested on March 21, 2025, during the operation by EFCC operations.

In a statement released on Monday, the head of the EFCC media and publicity, Dele Oyewale, confirmed the arrest and recovery of significant cash.

“The operation of the Directorate of Lagos 1 of the Economic and Financial Crime Commission, EFCC, has arrested two suspects for their alleged involvement in Naira’s harassment,” Oyewale said.

He further revealed that N3,850,000 was found from Folane, while N1,600,000 was confiscated from Modupe.

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“The suspects, Adeoti Fulake and Adewuyi Modupe, were arrested in Lagos on Friday, March 21, 2025, while allegedly peddling Naira Notes,” Oyewale said.

According to EFCC, the investigation of this problem is ongoing, and the suspects will be charged in the court after the legal process is completed.

This arrest is part of EFCC’s broader efforts to enforce the regulations on the abuse of the Nigerian currency, including the sale and handling of Naira’s invalid records.

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