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Hide Fraudsters And Risk Prosecution, EFCC Threatens Bureau De Change Operators



Hide Fraudsters And Risk Prosecution, EFCC to BDC
The Economic and Financial Crime Commission, has warned that any institution hiding and aiding fraudsters in redeeming money risks prosecution from the commission.


This was issued in a statement by the zonal head of the commission, Aliyu Lawal, on the 2nd July, 2020, in Sokoto during a meeting with the Bureau De Change operators.

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According to Lawal, EFCC is doing it's best to rid the Country of fraudsters and any Cooperation or individual financing armed robbery and terrorists will be prosecuted by the agency.

In his words, “The EFCC is ready to deal with individuals, groups and organisations that conspire with the bad eggs in the country to perpetrate the act of money laundering and banditry financing.”

While trying to curb the menace of money laundering and financial theft by some individuals, the zonal head, Mr Lawal urged the BDC members not to be involved in bogus money transactions, and to equally keep track of all the transactions did within the confides of the commission for proper documentation and accountability.

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It could also serve as a channel to monitor the nefarious activities of these launders.

Following the end result of the meeting with the operators, the BDC Sokoto, Aliyu Sahabi Yar Abba, hailed EFCC for sensitizing the members, stressing that it was the right move by the commission.

He went further by pointing out that the operators welcomed the sensitization which exposes them deeply to the pros and cons of the business is which they are ignorant of.

In his final remark, he noted that BDC has what it's called Compliance Unit, which monitors the members activities and subconsciously educate them on the aftermath of unlawful gathering.

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In another statement by the Zonal Chairman EFCC, "We want to salvage can't the Country but can't do this alone, we need your help". Stressing that BDC acts as medium of inflow and outflow, therefore every financial activities and those involved and the purpose should be identified by them.

"You should know what the law require, which include registering with the Special Control Unit on Money Laundering, knowing your customers and reporting every suspicious transactions to us" Lawal said.

Meanwhile, One Mr Yero who was involved in bribery and corruption linked to the former Minister of Petroleum, Diezani Alison Mmadueke, had pleaded the court through his counsel to release his passport for renewal.

An application which was rejected by the Court, following his arraignment before the Court on Nov 28, 2018.



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