The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) has taken into custody 12 persons accused of operating Bureau de Change businesses without the required licenses.
In a statement posted on its X handle on Thursday, the Commission revealed that the arrests were made on Wednesday after actionable intelligence and thorough surveillance operations.
The EFCC said, “Operatives of the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) have arrested 12 suspected illegal Bureau de Change BDC operators.
Advertisement
READ MORE: EFCC Nabs 37 Suspected Internet Fraudsters In Taraba
“They were arrested on Wednesday, August 27, 2025, following credible intelligence and thorough surveillance regarding their alleged operation of BDCs without requisite licences.”
According to the anti-graft agency, the operation led to the recovery of cash as well as luxury jewellery.
“The suspects are currently undergoing further investigation and will be arraigned in court soon,” the statement said.
