Port Harcourt Court Orders Detention Of BDC Operators

Port Harcourt Court Orders Detention Of BDC Operators

In Port Harcourt, a Magistrate Court has ordered the remand of 16 Bureau De Change (BDC) operators in the Port Harcourt Correctional Centre for engaging in unlawful banking activities. The decision was made by Magistrate Alatuwo Fubara on Wednesday following an ex parte application filed by the police, who sought additional time to complete their investigation before formally charging the individuals involved. The police argued that the actions of the BDC operators contravened the Banks and other Financial Institutions Act of 2020.

Granting the police’s request, Magistrate Fubara scheduled the case for a plea and potential bail consideration on March 7, 2024. Earlier, Sani Issaka, the Chairman of BDC operators in Port Harcourt, and several others involved in the operations had disclosed that more than 150 members, including Issaka himself, were apprehended by the Economic and Financial Crimes Commission (EFCC) operatives in Rumuola, Obio-Akpor Local Government Area of Rivers State.

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