New Naira Notes: EFCC issues stern warning to BDC operators, others

The Economic and Financial Crimes Commission, EFCC, has warned Bureau de Change (BDC) operators to be wary of currency hoarders who would be offloading money illegally stashed.

The government agency issued this warning following the announcement by the Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, on Wednesday, that the apex bank will, from December 15, 2022, issue redesigned N200, N500, and N1,000 notes.

Speaking on the matter, the EFCC Chairman, Abdulrasheed Bawa in a statement commended the move by the apex bank, saying it is “a well-considered and timely response” to the challenges of currency management in the country.

He said, “It is pertinent to issue this stern warning to Bureau de Change operators to be wary of currency hoarders who would attempt to use this opportunity to offload the currencies they had illegally stashed away.”

According to the EFCC boss, the Commission would spare no effort to arrest and prosecute any financial services operator who violates extant laws and regulations.

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