FasasiDiscover the EFCC’s recent crackdown on financial crimes, including convictions, arrests, and recoveries, along with international collaborations in extradition efforts.
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The EFCC has successfully arrested 170 currency racketeers and secured jail sentences for 23 individuals in a span of just one month. This robust enforcement action by the EFCC underscores its unwavering dedication to combatting financial crimes, particularly illegal Bureau De Change activities and currency racketeering.
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In Enugu State, the EFCC’s Special Task Force arrested 116 illegal BDC operators and currency racketeers, leading to the recovery of significant sums in various currencies and highlighting the extent of illicit financial activities in the region.
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The EFCC’s collaboration with international law enforcement agencies in extraditing Nadeem Anjarwalla, an executive linked to a $35.4 million money laundering probe, underscores the agency’s efforts to address transnational financial crimes effectively.
Last month, the Economic and Financial Crimes Commission (EFCC) convicted 23 persons involved in illegal bureau de change activities and money laundering, a sweeping crackdown it issued Half of the 116 illegal and money laundering BDC employees hired by the EFCC Special Task Force in Enugu State , Yen Naira, US. Dollar, British Pound, Euro, South African Rand, CFA Franc, Turkish, and Bank Mozambique Currency.
Furthermore, the EFCC disclosed cooperation with Interpol, FBI, several governments and international law enforcement agencies in the Binance Holding Ltd. fraud. chief Nadeem Anjarwalla transferred in connection with the alleged $35.4 million investigation into alleged money laundering These developments were mentioned in an EFCC circular titled “EFCC Alert”.
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The Chairman of the Commission, Ola Olukoyede, highlighted the achievements since the establishment of the Special Task Force on February 7, 2024
Olukoyede commended the hard work of the EFCC, citing the 23 irregularities discovered in one month, with significant cases recorded in Kano, Ilorin, Lagos, Port Harcourt and Kaduna. Currently, 170 suspects are facing trial in EFCC regional offices. Also in Enugu, a sting operation arrested 116 persons suspected of engaging in illegal money activities including bureau-de-change business and street trading of foreign currencies, resulting in large amounts of cash, banking abandoned species. And he was arrested
The letter highlighted the involvement of foreigners in these illegal activities, citing the historical laxity of laws against non-naira businesses and money laundering but the EFCC under the leadership of Olukoyede has taken aggressive action to address these issues.
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