The Nigerian anti-graft body, the Economic And Financial Crimes Commission (EFCC) has given reason why its operatives recently arrested of some Bureau De Change operators across the country especially in Lagos and Abuja, saying it was incidental to the Commission's overall efforts in sanitizing the foreign exchange sector.
The Director in charge of Operations in the Commission, Abdulkarim Chukkol disclosed this on Monday, November 14, 2022, while featuring on the Nigerian Television Authority, NTA breakfast show, Good Morning Nigeria.
Chukkol who represented the Executive Chairman of EFCC, Abdulrasheed Bawa, stated that the arrest of BDC operators and currency speculators in the parallel market was not indiscriminate but a product of intelligence.
“At EFCC, we work with intelligence and with other stakeholders; and when we talk of illegal Forex operators, you cannot just invite people on the street even though sometimes you could, but generally you do not have a choice but to make arrest”.
The top EFCC official noted the need for active inter-agency and stakeholder’s collaboration, pointing out that many of the over 6,000 registered BDCs do not belong to the Association of Bureau De Change Operators of Nigeria and therefore out of the orbit of regulators.
“The CBN guidelines are clear regarding returns by BDCs, but how many of them do this,” he queried.
