The Department of State Services, DSS, has arrested some members of an organised syndicate selling the new Naira notes in parts of the country.

Although the DSS did not disclose the names and locations of the suspects, the agency said in a statement on Monday that some commercial bank officials were aiding and abetting the act.

The statement signed by the Public Relations Officer of the DSS, Dr Peter Afunanya, warned that the Service would go after those involved in the malfeasance.

The statement said, "The Department of State Services (DSS) hereby informs the public that it has intercepted some members of organised syndicates involved in the sale of the newly redesigned naira notes. In the course of its operations, in this regard in parts of the country, it was also established that some Commercial Bank officials are aiding the economic malfeasance.

"Consequently, the Service warns the currency racketeers to desist from this ignoble act. Appropriate regulatory authorities are, in this same vein, urged to step up monitoring and supervisory activities to expeditiously address emerging trends.

"It should be noted that the Service has ordered its Commands and Formations to further ensure that all persons and groups engaged in the illegal sale of the notes are identified. Therefore, anyone with useful information relating to this is encouraged to pass the same to the relevant authorities".