JUST IN: Nigerian High Court Convicts, Sentences Two Bureau De Change Operators in Kano

The Federal High Court in Kano handed down a one-year prison sentence each to two individuals involved in unlicensed Bureau de Change (BDC) operations.

The convicts, identified as Munkaila Sani and Mohammed Sani, were found guilty of conducting BDC business without the necessary authorization, a violation that landed them in legal trouble.

This case came to light when the Kano Zonal Command of the Economic and Financial Crimes Commission (EFCC) arraigned the individuals on a charge each, for their illicit engagement in the financial operations of a bureau de change without obtaining the required license.

The charge specifically mentioned that the offense was committed in February 2024, within the jurisdiction of the Kano Federal High Court, thereby breaching Section 57 (5) of the Banks and Other Financial Institutions Act, 2020, with penalties outlined under the same section.

During their court appearance, both Munkaila Sani and Mohammed Sani admitted their guilt when the charges were read to them. This admission prompted the prosecution counsel, Aisha Tahar Habib, to request the court for their conviction and sentencing. On the other hand, the defense counsel, Abdulrahman Isah, appealed for leniency, highlighting the defendants’ advanced age and expressed remorse for their actions.

Justice Mohammed Nasir Yunusa, presiding over the case, decided to convict and sentence the defendants to one year of imprisonment each, reflecting the court’s stance on financial regulatory compliance.

The arrest of Munkaila Sani and Mohammed Sani was the result of diligent efforts by the EFCC, which acted on reliable intelligence about their participation in a syndicate running unlicensed BDC operations in strategic locations like the Wapa BDC market and Grand Central Hotel in Kano.


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