The Economic and Financial Crimes Commission detained Mustapha Muhammed, popularly known as Muaspaha Naira, in Abuja on suspicion of engaging in currency speculation.
On Wednesday, the commission tweeted the information and also unveiled a photo of the suspect.
The EFCC claimed that the arrest was made as part of the agency’s goal to clean up the foreign currency market.
The Federal Capital Territory’s Wuse neighborhood is where the arrest was made on Saturday.
The commission tweeted, “As part of its ongoing operation to sanitise the foreign exchange sector and rid it of speculators and all shades of economic saboteurs, the EFCC has arrested one Mustapha Muhammed alias Muaspaha Naira.
“He was picked up by operatives of the commission on Saturday, November 12, 2022, at Wuse Zone 4, the hub of parallel market operations in the Federal Capital Territory.
“The suspect has made useful statement while the investigation continues.”
