CRIME: COURT JAILS THREE FOR UNLAWFUL BDC OPERATIONS IN BORNO
Read Time:1 Minute, 31 Second
Three illegal Bureau-de-Change operators have been found guilty and sentenced to one year in prison each by Justice K. Dagat of the Federal High Court, which is located in Maiduguri, Borno State.
This was revealed in a statement disclosed on X.com by the Economic and Financial Crimes Commission on Friday.
According to the statement, the defendants, Muhammad Zarami, Mohammed Mustapha, and Buba Ahmadu Aliyu, were arraigned on one count of operating unlawful bureau de change companies by the Maiduguri Zonal Directorate of the EFCC on Wednesday.
The statement partly read, “The count against Aliyu reads, ‘That you, Buba Ahmadu Aliyu, sometime in May 2024, within the jurisdiction of this Honourable Court, did carry on other financial business without a license issued by the Central Bank of Nigeria, contrary to section 57 (1) and (2)b and punishable under section 57 (5) b of the Banks and other Financial Institutions Act, 2020.
“While the charge against Mustapha reads: That you, Mohammed Mustapha, sometime in May 2024, within the jurisdiction of this Honourable Court, did carry on, other financial business without a license issued by the Central Bank of Nigeria contrary to Section 57 (1) and (2)b and punishable under 57 (5) b of the Banks and other Financial Institutions Act, 2020.”
The defendants were said to have pleaded “guilty” to the charges when they were read to them.
Following this, Judge Dagat found the defendants guilty and gave them one-year prison sentence with an option of N100,000 each.
According to reports, the prisoners received a heavy sentence after being apprehended for running bureau-de-change operations without the proper authorization.
It was reported in May that thirteen fake Bureau-de-Change operators were apprehended in Lagos by agents of the Economic and Financial Crimes Commission’s Lagos Zonal Command.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0