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17 Forex hawkers lands in custody for illegal Bureau de Change operation

All individuals and business operators in the financial sector are urged to operate within the confines of the law.

Forex hawkers [Bloomberg]

The Commissioner of Police, Usaini Gumel, told the News Agency of Nigeria (NAN) in an interview on Wednesday.

"The operation which was led by the Police Command was carried out in Wapa Bureau De Change, Fagge with combined personnel of the Department of Security Services (DSS).

"A total of twenty-nine people were arrested out of which 12 were cleared.

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"We recovered 68,000 CFA, and 30 Rupees (Indian Currency) from them. All the suspects confessed to the offence and will be charged in court.

"This operation was carried our to flush out elements who operate illegally in order to destabilise the foreign exchange market in the country,” he said.

The commissioner commended the combined operatives for their commitment and cooperation in ensuring the success of the operation.

"The security measures put in place has sent the message that illegal financial activities will not be tolerated, and that those engaging in such practices will be made to face the full wrath of the law,” he stated.

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

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Gumel thanked the people of the state for their support, cooperation and understanding, and urged them to continue to report any suspicious movement of person(s) or item(s) to the nearest security outfits for prompt action.

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