Three Illegal BDC Operators Sentenced To Jail In Kano

In a recent development, three individuals operating as illegal bureau de change (BDC) operators have been handed a three-year jail sentence in Kano.

 Identified as Umar Ibrahim, Muhammad Abubakar Yakubu Garba, and Muhammad Tijjani, the trio pleaded guilty to charges of engaging in foreign currency dealings without the required license.

The sentencing was carried out by Justice Mohammed Nasir Yunusa of the Federal High Court in Kano on February 28, 2024. 

The charges against them, as stated by Justice Yunusa, outlined their illegal activities under Section 57(5) of the Banks and Other Financial Institutions Act 2020.

Upon pleading guilty in both English and interpreted in Hausa, the prosecution counsel, Aisha Tahar Habib, urged the court to convict and sentence the offenders. Meanwhile, the defense counsel appealed for mercy and leniency.

In the end, Justice Yunusa sentenced Ibrahim, Garba, and Tijjani to one year in prison each, with the option of a fine set at N100,000 (One Hundred Thousand Naira) for each offender. 

The arrest leading to their conviction occurred when the Economic and Financial Crimes Commission (EFCC) operatives apprehended them for operating an unauthorized BDC in Kano.

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