POLICE ARREST 9 SUSPECTED FOREX HAWKERS OVER ILLEGAL OPERATION OF BUREAU DE CHANGE
Operatives of Kano State Police Command, in a joint operation with personnel from the Economic and Financial Crimes Commission (EFCC) and the Nigeria Customs Service, conducted raids on various locations involved in forex transactions within the state. The operation, executed on February 21, 2024, at approximately 1100hrs, targeted several identified spots including Wappa Bureau De Change in Fagge LGA, Behind CBN Office in Nassarawa LGA, Central Hotel on Bompai Road in Nassarawa LGA, Ashton Road, Mallam Aminu Kano International Airport (MAKIA), Kofar Ruwa Motor Park in Dala LGA, and Dawanau International Grains Market in Dawakin Tofa LGA.
Thirty-one individuals were apprehended during the operation, with twenty-two being screened out due to lack of evidence. The remaining nine suspects were found in possession of various currencies and equipment, including $38 USD, CFA 113 Nigerien Currency, Cairo 4,810 Egyptian Pounds, Birr 200 Ethiopian Currency, a POS machine, and two mobile phone devices (Infinix Android & Techno Keypad). The nine arrested suspects were subsequently charged to Court 70 Normandsland Kano for prosecution.
The crackdown aimed to stabilize the foreign exchange market by targeting illegal activities while distinguishing between legitimate Bureau de Change operators and illicit forex traders. Commissioner of Police, CP Mohammed Usaini Gumel, FIPMA, psc, commended the collaborative efforts of the Nigeria Police Force, EFCC, and Nigeria Customs Service for their dedication and cooperation in ensuring the success of the operation. CP Gumel emphasized the intolerance towards illegal financial activities and urged all individuals and businesses within the financial sector to operate within the confines of the law, obtain necessary licenses, and avoid unwholesome practices. The Commissioner reiterated the commitment to creating a transparent and accountable financial environment for all residents in Kano State.
Comments