Nineteen Bureau De Change (BDC) operators arrested by the Lagos Police Command for alleged illegal transactions would be arraigned before a Federal High Court, Ikoyi, on charges of money laundering.
The suspects are Ibrahim Jubril, Abdullahi Abubakar, Ibrahim Hassan, Adamu Isiaka, Ibrahim Abdulrahman, Jubril Hassan, Mohammed Isiaka, Mohammed Aminu, Adamu Ibrahim, Hassan Ahmadu, Salisu Hamidu, Mahmoud Mohammed, Murtala Usman, Hassan Yakubu Balguda, Abdullahi Kabiri Mohammed, Ali Sadam, Ahamadu Yusuf, Abdullahi Hussain and Alhai Sido.
They were arrested in different parts of Lagos on February 21 during a joint operation conducted by the police, the Economic and Financial Crimes Commission (EFCC), and the Nigeria Customs Service (NCS).
The Nation gathered that the suspects allegedly conducted BDC operations without valued licences from the issuing authority.
The police, it was learnt, preferred separate count charges against the suspects for having different amounts of foreign currencies and naira suspected to be proceeds of crime.
They were alleged to have conspired with others at large, on or before February 21, to operate forex tradings as BDC within designated streets in Lagos without having a licence to operate as such, an offence under section 17(a)(b) of the Money Laundering (Prohibition) Act, Laws of the Federation of Nigeria, 2010.
The police also said the suspects allegedly retained proceeds of crime on behalf of other persons they knew had benefitted from criminal conduct and thereby committed an offence under section 16(a)(b) of the Money Laundering Prohibition Act, 2010.
Ibrahim Jubril allegedly benefited $201 and £2,562 from operating an illegal BDC, an offence under section 60(1) of the Banks and Other Financial Institutions Acts (BOFIA) 2020.
Abdullahi Abubakar allegedly benefited $10,000; Abdullah Hussain benefited $2,250 and 40,000 CFA; Ibrahim Abdulrahman benefited £30, 10,000 FCA and $230,000…
(The Nation)