Bureau de Change (BDC) owners have been cautioned by the Economic and Financial Crimes Commission (EFCC) to watch out for currency hoarders who may try to sell off money that has been hidden unlawfully.
Recall that the CBN Governor, Godwin Emefiele, announced on Wednesday that the apex bank would begin issuing newly designed N200, N500, and N1,000 notes on December 15, 2022.
Concerned Nigerians are currently responding to the news in a variety of ways.
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In a statement, EFCC Chairman Abdulrasheed Bawa praised the apex bank’s action, calling it “a well-considered and timely reaction” to the nation’s difficulties with currency management.
“It is necessary to give this harsh warning to Bureau de Change operators to be mindful of currency hoarders who would attempt to use this chance to sell the cash they had unlawfully stowed away,” he said.
The head of the EFCC stated that the organization would take all necessary steps to apprehend and bring charges against any financial services provider who disobeyed current rules and regulations.
