Entrepreneur selling new naira notes on social media arrested – ICPC

Azuka Ogugua, ICPC spokesperson, in a statement issued on Wednesday night, said Emma colluded with “key elements” in the financial sector to divert the new notes and sell them in the black market.

“The arrest was as a result of intelligence received which led the ICPC operatives to seek out and promptly arrest the suspect.

“Oluwadarasimi Emma, a social media ‘serial entrepreneur’ who deals in skincare, sales of fuel, facilitation of foreign travels through visa acquisitions, and other businesses, seized the opportunity of the scarcity of the new naira notes to openly market the new notes.

“It is believed she is in collusion with key elements in the financial services sector diverting the newly released notes away from banking halls and payment channels into a ‘black market’.

“Oluwadarasimi is currently in ICPC detention and is helping the Commission with its findings on the criminal trading of the naira and the attendant scarcity and negative economic outcomes being caused by the action.

“The action is in furtherance of the collaboration between CBN ICPC and EFCC in implementing the new cashless policy and naira redesign.”

The development comes days after the Economic and Financial Crimes Commission (EFCC) and the Department of State Services (DSS) made similar arrest amid scarcity of new naira notes.