Bureau de Change Association Frowns At Illegal Transactions, Money Laundering By Members
The Association of Bureau de Change Operators of Nigeria (ABCON) has condemned what it described as acts of mistrust, money laundering and other related crimes among its members.
The President of ABCON, Aminu Gwadabe, gave the condemnation while speaking in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos.
Mr Gwadabe spoke against the backdrop of the recent conviction of a bureau de change operator, Auwal Abdulrahman, by an Abuja High Court.
On July 4, a Federal Capital Territory High Court, sitting in Jabi, convicted Mr Abdulrahman, Managing Director of Transvex Investment Ltd. for N17 million fraud.
Mr Gwadabe said that ABCON was in full support of any kind of penalty meted out to members of the association for any financial infraction.
“There is a need for both government and regulators to enforce regulations and ensure adequate supervision.
”We are also investigating the genuineness of the alleged bureau de change operator and his claim of being a member of our association for proper disciplinary action,” Mr Gwadabe said.
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