Northern Nigerian Breaking News

EFCC arrests 8 BDC operators in Kano

Economic and Financial Crimes Commission (EFCC) on Tuesday raided the popular foreign exchange market, Wapa and arrested 8 illegal Bureau de Change (BDC) operators.

SOLACEBASE gathered that the raid was conducted in an effort to arrest the recent hike of foreign exchange (Forex) as the anti-graft agency officials were also at the market last Friday.

Eyewitnesses told SOLACEBASE that the EFCC stormed the market on Tuesday in three buses at about 2.30pm.

According to a source, during the raid, the eight suspects were arrested for Foreign exchange racketeering and engaging into Forex without license.

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‘’The commission has been observing the role played by the illegal Forex traders which contributed immensely to the unfortunate hike of Forex in the country,’’ the source said.

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‘’The EFCC is also concerned that money launderers are using the BDC to obtain Forex on black market in order to maneuve their ill gotten Naira which faces redesign by the government.

The source noted that the raiding of the Wapa foreign exchange market exercise is a continuous exercise nationwide.

SOLACEBASE efforts to speak with the commission Spokesman, Wilson Owujari, proved above as his phone line , was not attended

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