The 12 gunmen attacked the market Wednesday and stole an undisclosed amount of local and foreign money from currency exchange shops, the state-run News Agency of Nigeria reported Thursday.
Security forces chased the gunmen and upon catching up with them, shot and killed all 12 perpetrators in a shootout.
Lt. Col. Beyidi Martins, commanding officer of the Special Battalion enforcing the state of emergency in Mubi, said some of the money and weapons were recovered from the gunmen.
This was the second such attack on the market in a year, News Agency of Nigeria reported.
Some residents in the area thanked the army for their work in stopping the gunmen.
"They deserve commendation and sustained support and cooperation of the public to enable them to continue the good job," a resident said.
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