Politicians transfer looted funds from government accounts to BDC’s accounts; in 10, 20 millions in about 75 transactions in one day.
Economic and Financial Crimes Commission (EFCC) Acting Chairman Ibrahim Magu has revealed,saying..Bureau de Change (BDC) operators aid corrupt practices of some politicians.
Speaking at a meeting with the Association of Bureaux De Change Operators of Nigeria (ABCON) in Abuja, Magu said:
“This is done with only paper work, no physical cash.
“The BDC operators now take the money to the politician’s village and also buy properties for them in and outside the country.
“They help clean up dirty money. When we start prosecuting them in every zone, others will sit up..
Magu warned that the agency would prosecute operators and bankers who failed to comply with laws guiding the financial regulating system.
About 5000 members of the association are licenced..“In Abuja alone, we have over 100,000 unregistered BDC operators.