The Economic and Financial Crimes Commission (EFCC) has achieved significant milestones in combating currency racketeering and illegal Bureau De Change operations within the last month.
Since the formation of the EFCC Special Task Force on February 7, 2024, the commission has been proactive in addressing financial crimes. A total of 23 convictions were secured across various locations, including Kano, Ilorin, Lagos, Port Harcourt, and Kaduna, demonstrating the commission’s dedication to enforcement.
Furthermore, 170 suspects are currently facing prosecution for similar offences in eight zonal offices of the EFCC, namely Kano, Ibadan, Enugu, Lagos, Abuja, Port Harcourt, Uyo, and Maiduguri.
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In Enugu State, a massive clampdown by the EFCC led to the arrest of 116 illegal Bureau De Change operators, currency racketeers, and street hawkers engaged in illegal foreign exchange activities. During this operation, significant amounts of various currencies, totaling N110.7 million, $8,368.00, £145.00, €2,725, South African Rand, CFA, Turkiya, and Bank Mozambique currencies, were recovered.
Additionally, the EFCC disclosed cooperation with international law enforcement agencies, including Interpol, the FBI, and governments of the UK, Northern Ireland, and Kenya, in the extradition of a Binance Holding Limited executive implicated in a $35.4 million money laundering probe.
These developments underscore the EFCC’s commitment to combating financial crimes and enforcing currency-related regulations to ensure compliance with Nigerian laws.
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