The Economic and Financial Crimes Commission (E.F.C.C) has intensified its efforts in combating illegal Bureau De Change (B.D.C) operations and currency racketeers, as it convicts illegal B.D.C operators. Over the past month, the E.F.C.C has secured the conviction of 23 individuals involved in currency-related crimes, while also apprehending 170 suspects for similar offenses.
In a notable operation conducted in Enugu State, the E.F.C.C Special Task Force apprehended 116 illegal B.D.C operators and currency racketeers. This massive clampdown underscores the E.F.C.C’s commitment to eradicating illicit financial activities across the country.
During the Enugu operation, EFCC operatives recovered substantial sums of money, totaling various currencies and amounts. Additionally, they seized an abandoned safe, believed to be linked to currency street hawkers.
The EFCC’s crackdown on illegal BDC operators and currency racketeers involves international collaboration. Organizations such as INTERPOL, the FBI, and several governments assist in the process. This collaboration aids in the extradition of Nadeem Anjarwalla, a Binance Holding Limited executive, facing money laundering allegations. Anjarwalla is under investigation for alleged money laundering totaling $35.4 million.
Chairman of the EFCC, Ola Olukoyede, praised the agency’s unwavering dedication, citing recent convictions and arrests as proof. Olukoyede highlighted the successful convictions of 23 individuals across various cities, including Kano, Ilorin, Lagos, Port Harcourt, and Kaduna. Furthermore, ongoing prosecutions of 170 suspects underscore the E.F.C.C’s nationwide crackdown on currency-related crimes.
The EFCC’s operations have not only focused on convictions but have also included preventive measures. The EFCC apprehended a variety of individuals involved in illegal currency activities beyond Enugu’s arrests. These include illegal BDC operators, currency speculators, and street hawkers. The recovered assets and arrests underscore the EFCC’s commitment to enforcing currency regulations rigorously. They also demonstrate the agency’s effectiveness in combating financial crimes.
The EFCC remains committed to upholding integrity and safeguarding Nigeria’s financial system as it cracks down on illegal operators.
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