• How Bureau de Change operator exchanges N1.7m with fake dollars in Lagos

    How Bureau de Change operator exchanges N1.7m with fake dollars in Lagos

    Usman Nafada, a Bureau de Change operator, has connived with an accomplice to swindle one Mr Abdullahi Uba, of the sum of N1.7m at the Obalende area of Lagos during the course of changing some dollars to naira.

    It was reportedly gathered that Mr Uba had approached Usman in November 16th, 2016, requesting to change some Naira to American dollars.

    The suspect was said to have informed Uba that he didn’t have any hard currency at that period for exchange but talked […]

  • DSS raids Kano’s Bureau de Change, arrests 40

    DSS raids Kano’s Bureau de Change, arrests 40

    It was gathered that the Department of State Services in Kano has arrested over 40 people at the famous Wapa Bureau d’ Change in Fagge area of the city.

    A source close to the DSS, who pleaded anonymity, confirmed the arrests, saying that those arrested were touts responsible for the hike in exchange rate.

    It said that they made the arrests on Friday morning as the culprits had been warned against their acts.

    The Auditor General of Al Amanat Association of Bureau de […]

  • Fraud: Court grants 2 bureaus de change operators N1m bail

    Fraud: Court grants 2 bureaus de change operators N1m bail

    A Wuse Zone 2 Chief Magistrates’ Court on Thursday in Abuja granted two bureaus de change operators N1million bail each for allegedly defrauding a man of N17million.

    The defendants are Abdullahi Garba and Musa Abba, both of Wuse Zone 4, Abuja.

    The duo is facing a three-count charge of a joint act, criminal breach of trust and cheating.

    The prosecutor, Asa Oyeyemi, told the court that one Abuh Danjuma of Mararaba, Abuja, reported the case at the Wuse Police Station on November 1

    Oyeyemi, […]

  • DSS raids Bureau de change, arrests dealers selling dollar above N400

    DSS raids Bureau de change, arrests dealers selling dollar above N400

    According to reports, the Department of State Services (DSS) on Thursday raided the foreign exchange parallel market (Bureau de change) in Lagos and Abuja, arresting dealers who were selling the dollar above N400.

    A dealer, who confided in newsmen, said some of his colleagues were among those arrested.

    “The DSS visited the market and arrested some of my colleagues, but I was saved because I didn’t have dollar to sell at the time,” the middle-aged dealer said.

    “They want us to buy at […]