It also warned financial system operators to desist from the sharp practices or risk arrest and prosecution.
The Economic and Financial Crimes Commission (EFCC) announced on Monday that it had apprehended members of a currency racketeer syndicate who were hoarding and trading with redesigned naira notes.
According to EFCC spokesman Wilson Uwajaren, the arrests took place on Saturday and Monday in the Federal Capital Territory's Zone 4 and Dei Dei axis.
According to the anti-graft agency, the operation was prompted by intelligence on unscrupulous currency speculators exploiting desperate citizens by offering them new naira notes for foreign currencies at below-market rates.
He said the suspects had made useful statements, including a disclosure that they were acting with some unscrupulous officials of Money Deposit Banks.
The commission vowed to extend the operation to all the major commercial centres of the country until all the syndicates involved in the illegal trade are demobilised.
It also warned financial system operators to desist from the sharp practices or risk arrest and prosecution.
In a similar development, the Department of State Services (DSS) had also said its operatives had intercepted some members of organised syndicates involved in the sale of the newly redesigned naira notes.
According to a statement on Monday by DSS spokesman, Dr Peter Afunanya, the Service, during its operations, also established that some Commercial Bank officials are aiding the economic malfeasance.
As a result of this, the Service warned the currency racketeers to desist from this ignoble act.