Updating your news feed...
NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
.webp)
.webp)
Loading banners
Loading banners...
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested eight suspected forex racketeers in Kano.
Some of the suspects were nabbed for engaging into forex trade without legitimate operating license.
The development followed a raid by the anti- economic crime body at the popular Bureau de Change market in Kano, otherwise known as (Wapa).
EFCC sources volunteered that the raid was conducted in an effort to arrest the recent hike of foreign exchange (Forex).
“The Commission has been watching closely the role played by the illegal forex traders, which had contributed immensely to the unfortunate hike in the exchange rate in the country.
“The Commission is also concerned that money launderers are using the Bureau de Change at WAPA to obtain Forex on black market in order to maneuver their ill -gotten Naira which faces redesign by the government” said the source. End
The suspects, who identities could not be established, have been taken into custody at the Commission’s Kano Zonal office for thorough investigation. (Daily Sun)
