Justice Ok. Dagat of the Federal Excessive Court docket, sitting in Maiduguri, Borno State, has convicted and sentenced three unlawful Bureau-de-Change operators to 1 yr imprisonment every.
The Financial and Monetary Crimes Fee disclosed this in an announcement on X.com on Friday.
The assertion revealed that the defendants: Buba Ahmadu Aliyu, Mohammed Mustapha, and Muhammad Zarami, have been arraigned by the Maiduguri Zonal Directorate of the EFCC on Wednesday on a one-count separate cost for working unlawful bureau de change companies.
The assertion partly learn, “The rely in opposition to Aliyu reads, ‘That you simply, Buba Ahmadu Aliyu, someday in Could 2024, inside the jurisdiction of this Honourable Court docket, did keep it up different monetary enterprise with no license issued by the Central Financial institution of Nigeria, opposite to part 57 (1) and (2)b and punishable beneath part 57 (5) b of the Banks and different Monetary Establishments Act, 2020.
“Whereas the cost in opposition to Mustapha reads: That you simply, Mohammed Mustapha, someday in Could 2024, inside the jurisdiction of this Honourable Court docket, did keep it up, different monetary enterprise with no license issued by the Central Financial institution of Nigeria opposite to Part 57 (1) and (2)b and punishable beneath 57 (5) b of the Banks and different Monetary Establishments Act, 2020.”
The defendants have been stated to have pleaded “responsible” to the fees once they have been learn to them.
Justice Dagat thereafter convicted and sentenced the defendants to 1 yr imprisonment with an possibility of N100,000 every.
The convicts have been reported to have bagged their imprisonment once they have been arrested for working bureau-de-change companies with out an acceptable licence.
PUNCH On-line reported in Could that operatives of the Lagos Zonal Command of the Financial and Monetary Crimes Fee arrested 13 pretend Bureau-de-Change operators in Lagos.