Justice K. Dagat of the Federal High Court, sitting in Maiduguri, Borno State, has convicted and sentenced three illegal bureaux de change operators to one-year imprisonment each.
They were arraigned on Wednesday, July 10, 2024, by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on a one-count separate charge for operating an illegal bureau de change business.
The defendants are Buba Ahmadu Aliyu, Mohammed Mustapha, and Muhammad Zarami.
The count against Aliyu reads “That you, Buba Ahmadu Aliyu sometime in May 2024, within the jurisdiction of this Honourable Court, did carry on, other financial business without license issued by the Central Bank of Nigeria contrary to section 57 (1) and (2)b and punishable under section 57 (5) b of the Banks and other Financial Institutions Act, 2020.”
While the charge against Mustapha reads: That you, Mohammed Mustapha sometime in May 2024, within the jurisdiction of this…
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