🇳🇬 The Central Bank of Nigeria (CBN) has raised alarms over illegal currency dealers charging premiums of 20–40% on naira banknotes. CBN Governor Olayemi Cardoso warns this practice distorts the naira’s value and threatens financial stability. 💱⚠️ Cardoso calls for law enforcement to intensify efforts to prosecute offenders, noting the blatant disregard for the naira undermines national identity and credibility. Meanwhile, NSA Nuhu Ribadu revealed banknotes used in these practices are transported via planes, private jets, and boats. In its fight against illicit activity, the CBN recently introduced fines of 97,040 for financial institutions caught enabling currency hawkers, with penalties increasing for repeat offenses.