Court docket jails three unlawful BDC operators in Borno

Justice Okay. Dagat of the Federal Excessive Court docket, sitting in Maiduguri, Borno State, has convicted and sentenced three unlawful Bureau-de-Change operators to at least one yr imprisonment every.

The Financial and Monetary Crimes Fee disclosed this in an announcement on X.com on Friday.

The assertion revealed that the defendants: Buba Ahmadu Aliyu, Mohammed Mustapha, and Muhammad Zarami, had been arraigned by the  Maiduguri Zonal Directorate of the EFCC on Wednesday on a one-count separate cost for working unlawful bureau de change companies.

The assertion partly learn, “The depend towards Aliyu reads, ‘That you just, Buba Ahmadu Aliyu, someday in Could 2024, inside the jurisdiction of this Honourable Court docket, did keep on different monetary enterprise with no license issued by the Central Financial institution of Nigeria, opposite to part 57 (1) and (2)b and punishable underneath part  57 (5) b of the Banks and different Monetary Establishments Act, 2020.

“Whereas the cost towards Mustapha reads: That you just, Mohammed Mustapha, someday  in Could 2024, inside the jurisdiction of this Honourable Court docket, did  keep on, different monetary enterprise with no license issued by the Central  Financial institution of Nigeria opposite to Part 57 (1) and (2)b and punishable  underneath 57 (5) b of the Banks and different Monetary Establishments Act, 2020.”

The defendants had been stated to have pleaded “responsible” to the costs after they had been learn to them.

Justice Dagat thereafter convicted and sentenced the defendants to at least one yr imprisonment with an possibility of N100,000 every.

The convicts had been reported to have bagged their imprisonment after they had been arrested for working bureau-de-change companies with out an applicable licence.

PUNCH On-line reported in Could that operatives of the Lagos Zonal Command of the Financial and Monetary Crimes Fee arrested 13 pretend Bureau-de-Change operators in Lagos.

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