Categories: NEWS

Police Arrest 17 Suspected Forex Hawkers In Kano

The Police in Kano State have arrested seventeen suspected forex hawkers for illegal operation of Bureau de Change.

Spokesman of the command, SP. Abdullahi Haruna Kiyawa confirmed the arrest in a statement issued to newsmen.

He said the arrest followed a raid conducted by the Kano Police Command with combined personnel of the Department of State Services (DSS) at locations where FOREX Transactions were being carried out in Wappa Bureau De Change, Fagge LGA, Kano.

READ ALSO: Insecurity: Bandits Kill NSCDC Commander In Benue

According to him β€œAt the end of the operation, a total of twenty-nine (29) people were arrested out of which twelve (12) were screened out for lack of evidence, while seventeen (17) were arrested with the following exhibits recovered; (1) Sum of Sixty-eight Thousand (68,000) CFA, and (2) Thirty (30) Rupees (Indian Currency).”

Sponsored

He said further investigation revealed that the seventeen suspects were operating under one Association of unlicensed Bureau De Change and they will be charged to Court for prosecution.

SP Kiyawa explained that the essence of the operation was to flush out elements that operate illegally to stabilize the foreign exchange market in the country.

The arrest excluded genuine Bureau de Change operators who carry on their legitimate businesses in their offices.

The State Commissioner of Police, CP Mohammed Usaini Gumel, noted that illegal financial activities would not be tolerated, and that those engaging in such practices would face the full wrath of the law.

He advised all individuals and business operators within the financial sector to operate within the confines of the law, obtain the necessary licenses and always avoid unwholesome practices.

SPONSORED
Nobert Okechukwu

Recent Posts

WhatsApp Restricted In Equatorial Guinea Amid Sex Scandal

The Equatorial Guinean government has banned its citizens from using WhatsApp to download and share…

35 mins ago

Osun NSCDC Officer Reportedly Dead

An operative of the Nigeria Security and Civil Defense Corps, Osun Command, Mohammed Opatola, has…

52 mins ago

Police Arrest Two For Stripping Teenage Girls Over Alleged Theft In Ebonyi

Two men have been detained by the Ebonyi State police for stripping and flogging two…

1 hour ago

I Won’t Divorce My Wife Even If She Cheats On Me, Says Peter Obi

Peter Obi has reaffirmed his vow to Margaret Brownson, his wife, saying he would not…

1 hour ago

Ekiti Chief Judge, Adeyeye, Reportedly Dead At Age 64

Oyewole Adeyeye, the Chief Justice of Ekiti State, passed away at the age of 64,…

2 hours ago

Masters Energy Group Denies Importing Expired Rice, Blasts Purveyors Of Fake News

The management of Masters Energy Group has denied importing fake or expired rice and circulate…

3 hours ago