Home Business 17 Arrested in Kano for Running Illegal Bureau de Change
BusinessNews

17 Arrested in Kano for Running Illegal Bureau de Change

58
Lagos Police Ritualists

The police in Kano have arrested 17 suspected individuals for their involvement in the unlawful operation of Bureau de Change in the Wapa area of Fagge Local Government Area.

Led by the Commissioner of Police, Mr. Usaini Gumel, the operation targeted the financial activities at the Wapa Bureau De Change. The crackdown was also supported by personnel from the Department of Security Services (DSS).

Out of the 29 individuals apprehended, 12 were cleared, while the remaining 17 were found in possession of 68,000 CFA and 30 Rupees (Indian currency).

All suspects reportedly confessed to their involvement in the illegal operation and are slated to face charges in court. Commissioner Gumel emphasized that the operation aimed to eliminate elements disrupting the stability of the foreign exchange market.

Commending the collaborative effort of the operatives, Gumel stressed that stringent security measures were in place to deter illegal financial activities. Perpetrators will face the full consequences of the law, according to him.

”The security measures put in place has sent the message that illegal financial activities will not be tolerated and that those engaging in such practices will be made to face the full wrath of the law,” he said.

Gumel further urged individuals and businesses in the financial sector to adhere to legal regulations, obtain required licenses, and uphold ethical practices. He also encouraged the community to promptly report all suspicious activities to enhance security measures.

Read: Petrol Supply will Improve, Stop Panic Buying – NNPC Promises

 

 

About The Author

Related Articles

Femi Otedola
FinanceNews

Femi Otedola Increases Stake By N18.9bn, Becomes First Bank’s Largest Shareholder

Nigerian billionaire Femi Otedola has emerged as the largest shareholder of FBN...

FinanceNews

German Govt. Agency Transfers Bitcoin Worth Over $400 Million, Sends Some To Crypto Exchanges – Arkham 

A German government agency has transferred a significant amount of Bitcoin, valued...

FinanceNews

Swiss Central Bank Cuts Interest Rates For Second Time This Year 

The Swiss National Bank (SNB) has cut its key interest rate for...

Juneteenth Celebration
NewsWorld

Several People Shot At Juneteenth Celebration In Oakland, California

A Juneteenth celebration in Oakland, California, turned violent when several people were...