Simon Bassey Idio

A 59-year-old man identified as Simon Bassey Idio has been arrested by the Economic and Financial Crimes Commission, EFCC, over allegations of currency racketeering in Uyo.

The ‘Naira Trader’ was arrested on Friday February 9, 2024, at the Ibom Tropicana Mall , Udo Udoma way in Uyo, Akwa Ibom State.

A statement from the EFCC‘s spokesman, Dele Oyewale, said Idio’s arrest came on the heels of intelligence and surveillance regarding his illegal cash dealings in local and foreign currencies within the state.

Oyewale said he was caught selling N700, 000.00 new naira notes in two denominations: twelve(12) bundles of N500 notes totaling N600, 000.00 (Six Hundred Thousand Naira) and a bundle of N1000 notes N100,000.00 (One Hundred Naira).

He said Idio confessed to the crime and would be charged to court soon.