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Forex Fraud: EFCC Raids Hotel, Warns BDC Operators Against Hoarding

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6 years ago

March 17, 2020

BIGPEN

The Economic and Financial Crimes Commission, EFCC, says it raided the popular Club Road/Hamdalla Hotel in Kaduna known for Bureaux de Change, BDC operations to forestall hoarding of the dollars.

The operation was a directive from the acting EFCC Chairman, Ibrahim Magu to monitor the activities of BDCs in Kaduna and its environs in an effort to prevent sabotaging the Federal Government’s efforts to stabilize the naira to the dollar.

The BDC operators were also warned against hoarding, as it amounted to an act of sabotage, with a further warning that any individual or group caught involved in such illegal and illicit financial transactions will be made to face the full wrath of the law.

The EFCC undertook the raid on Thursday March 12, 2020.

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