The Economic and Financial Crimes Commission (EFCC) has apprehended two women in Lagos for allegedly engaging in the illegal sale of naira notes.
The suspects, identified as Adeoti Folake and Adewuyi Modupe, were arrested on March 21, 2025, during an operation by EFCC operatives.
In a statement released on Monday, EFCC’s Head of Media and Publicity, Dele Oyewale, confirmed the arrests and the recovery of significant cash sums.
“Operatives of the Lagos Directorate 1 of the Economic and Financial Crimes Commission, EFCC, have arrested two suspects for their alleged involvement in Naira abuse,” Oyewale stated.
He further disclosed that N3,850,000 was recovered from Folake, while N1,600,000 was seized from Modupe.
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“The suspects, Adeoti Folake and Adewuyi Modupe, were apprehended in Lagos on Friday, March 21, 2025, while allegedly hawking Naira notes,” Oyewale said.
According to the EFCC, investigations into the matter are ongoing, and the suspects will be arraigned in court once the legal process is completed.
This arrest is part of the EFCC’s broader efforts to enforce regulations against the abuse of Nigeria’s currency, including the sale and unauthorized handling of naira notes.
