The Nigerian police in Kano have apprehended 17 individuals suspected of operating illegal Bureau de Change (BDC) businesses in the Wapa area.
The Commissioner of Police, Usaini Gumel, confirmed the operation’s success in a statement to journalists on Wednesday.
The crackdown, jointly executed by police and State Security Service (SSS) operatives, targeted the BDC operations hub in Wapa.
Gumel disclosed that out of the 29 individuals arrested, 12 were subsequently cleared of wrongdoing.
The seized items were 68,000 CFA and 30 Rupees (Indian currency). All apprehended suspects confessed to their involvement in the illegal activities and are set to face charges in court.
Highlighting the significance of the operation, Gumel emphasised its role in safeguarding the stability of the foreign exchange market.
He commended the collaborative efforts of the security operatives involved and underscored the commitment to enforce stringent measures against unlawful financial practices.
Furthermore, he urged individuals and businesses operating in the financial sector to adhere strictly to legal regulations, obtain necessary licenses, and shun illicit activities.
He expressed gratitude to the residents of the state for their support and encouraged them to remain vigilant, reporting any suspicious activities to law enforcement agencies promptly.
Source: NAN
Read: Femi Adebayo Emerges Victorious, Awarded ₦25 Million After 3-Year Court Battle Against Piracy
About The Author
