The police have apprehended 17 individuals suspected of engaging in illegal forex trading at a Bureau de Change in the Wapa area of Fagge Local Government Area, Kano State. The Commissioner of Police, Mr. Usaini Gumel, disclosed this in an interview with the News Agency of Nigeria (NAN) on Wednesday.
The operation, conducted by the Police Command in collaboration with the Department of Security Services (DSS), resulted in the arrest of 29 individuals, with 12 later cleared of any wrongdoing. The authorities seized 68,000 CFA and 30 Rupees (Indian Currency) from the suspects, all of whom confessed to the offense and will face legal charges.
Commissioner Gumel emphasized that the operation aimed to eliminate illegal activities that could destabilize the foreign exchange market in the country. He commended the joint operatives for their dedication and cooperation in executing the operation successfully.
The commissioner reiterated the government's stance against illegal financial activities, emphasizing that perpetrators would face the full weight of the law. He urged individuals and businesses in the financial sector to adhere to the law, obtain the necessary licenses, and avoid engaging in unlawful practices.
Gumel expressed gratitude to the people of the state for their support and urged them to remain vigilant and report any suspicious activities to the relevant security agencies for prompt action.
