The Federal Capital Territory Administration (FCTA) and the Economic and Financial Crimes Commission, EFCC, have begun moves to ensure sanity and standards in the operations of Bureau De Change (BDC) in the nation’s capital.
This is as growing concerns continue to be expressed by the public over their purported involvement in financial crimes such as money laundering, economic sabotage and terrorism financing, among others.
Senior Special Assistant to the FCT Minister on Monitoring, Inspection and Enforcement, Ikharo Attah made this disclosure over the weekend in a meeting with the BDC operators on plans to sanitise and standardise their operations, and free them of crimes.
Ikharo explained that the action became necessary following an Economic and Financial Crimes Commission (EFCC) letter, requesting the FCTA to bring sanity and global best practices to their activities in order to tackle criminal activities arising from their operations.
In addition to restoration of sanity in the conduct of currency business in the FCT, Ikharo revealed the EFCC requested that “adequate arrangements be made for them to operate with registered office address in line with provisions of the law and international best practices to curtail economic sabotage, money laundering and possibly terrorism financing.
Ikharo who stated that the BDC operators were critical and important stakeholders in the forex market, however, warned that the FCTA would not allow them continue hawking currency by the roadside.
“You can operate properly and we run the city beautifully,” he stated.
He pointed out that section 8.5 of the revised operational guidelines for Bureau De Change in Nigeria aligns with anti-hawking policy of the FCT.
In his response, the secretary, Zone 4 Bureau De Change Association, Yahaya Jidda Kida appreciated the democrartic and civilized manner the FCTA approached them and assured Ikharo that: “We are ready to cooperate with government”.
Yahaya stated that they were also “very concerned about the issues the EFCC raised”, including the drug peddling problem, which he revealed his association had fought, risking their lives and businesses.
On the issue of drug peddling, Yahaya stated that; “We always fight them tooth and nail; day and night because we don’t want them to be part of us. We are the first call for Ambassadors and we don’t want anyone with criminal activities among us”.
On money laundering, he decried that they were in a “quagmire because we change money and don’t know some of those who come to change these currencies. We are always the first victims.
Hauwa Abu
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