EFCC issues stern warning to Bureau de Change operators, others on Naira notes hoarders

By Olaleye Aanuoluwapo

The Economic and Financial Crimes Commission, EFCC, has warned Bureau de Change (BDC) operators to be wary of currency hoarders who would be offloading money illegally stashed.

Recalled that the Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, on Wednesday revealed that the apex bank will, from December 15, 2022, issue redesigned N200, N500, and N1,000 notes.
The development is currently generating mixed reactions from concerned Nigerians.

Speaking on the matter, the EFCC Chairman, Abdulrasheed Bawa in a statement commended the move by the apex bank, saying it is “a well-considered and timely response” to the challenges of currency management in the country.
He said, “It is pertinent to issue this stern warning to Bureau de Change operators to be wary of currency hoarders who would attempt to use this opportunity to offload the currencies they had illegally stashed away.”

According to the EFCC boss, the Commission would spare no effort to arrest and prosecute any financial services operator who violates extant laws and regulations.