In a significant crackdown on currency fraud, operatives of the Economic and Financial Crimes Commission (EFCC), in collaboration with the Taskforce on Currency Mutilation and Forex Malpractice, have arrested 34 individuals suspected of engaging in illegal foreign exchange activities.
The arrests, conducted on Friday, April 26, 2024, followed meticulous intelligence gathering pointing to unlawful currency trading in the Wuse Zone 4 area of the Federal Capital Territory, Abuja.
Among the detained suspects are: Usman Mohammed, Abdullahi Nasir, Abubakar Saleh, Mohammed Kabir Ibrahim, Abubakar Ghadafi, and several others named in the ongoing investigation.
The EFCC’s crackdown on currency malpractice underscores its commitment to combating financial crimes and restoring integrity to the forex market.
This operation aligns with the agency’s ongoing efforts to curb illicit activities and stabilize the nation’s economy.
The arrested individuals are currently undergoing thorough investigation, aimed at gathering evidence to facilitate their prosecution.
Once the inquiry is concluded, they will be arraigned in court to face charges related to foreign exchange fraud.
