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180 BDC Operators Pay N900m Penalties To CBN Over Terrorism Financing




At least 180 Bureau De Change (BDC) operators nabbed by security operatives for alleged link to terrorism financing paid N900 million in penalties before they returned to their businesses, Daily Trust reports.

This comes as BDC operators and other traders rounded up by security agents in March, on suspicion of involvement in financing of terrorism have remained in detention, almost three months after their arrest.

Families and associates said the suspects are being kept incommunicado without access to their families, despite lack of judicial process.

On a few occasion recently, the Minister of Justice and Attorney General of the Federation, Abubakar Malami, has stated that the federal government will put in about 400 suspects on trial for financing terrorism,

“I am happy to report that arising from the wider coverage investigation that has been conducted in Nigeria, a number of people, both institutional and otherwise, were found to be culpable, I mean on reasonable grounds for suspicion of terrorism financing,” Malami had told State House correspondent last month.

Ahead of the planned trial Daily Trust yesterday gathered that agencies handling the cases have begun contacting families to nominate lawyers to stand in for their relatives.

In April, Daily Trust reported a high level security operation leading to massive clamp down on some BDC operators and other businessmen who allegedly dealt with Boko Haram and other criminal groups.

The operation, which security sources say is ongoing, is being coordinated by the Defence Intelligence Agency (DIA) and the Department of States Services (DSS), with financial intelligence support from the Central Bank of Nigeria (CBN) and the Nigerian Financial Intelligence Unity (NFIU).




180 BDC Operators Pay N900m Penalties To CBN Over Terrorism Financing







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