Forex Scarcity: EFCC Recovers Over $8 Million From Bureau De Change Operators

The Economic and Financial Crimes Commission (EFCC), has said that some Bureau De Change operators who were recently arrested in Lagos, Abuja and other parts of Nigeria were in possession of over $6 million. The EFCC Chairman, Abdulrasheed Bawa, who made this known while speaking on the Nigerian Television Authority’s (NTA) said that the arrests were part of efforts of the anti-graft agency to sanitize the foreign exchange sector.

He said that “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 an arrest.”
“Some were arrested with excess of $6 Million (Six Million United States Dollars), others with $2 Million (Two Million United States Dollars) and we know that these huge sums were not meant to be used in buying goods but stolen monies being laundered out of the country.”