Police Arrest 10 Illegal Forex Operators In Edo

Ten unlicensed forex operators, or Bureau de Change operators, have been taken into custody by officials of the Edo State Police Command, Naija News reports.

Making this disclosure while speaking with newsmen in Benin City on Thursday, the state Police Commissioner, Funsho Adeboye, cleared that the command only arrested illegal Bureau de Change operators.

He said, “We arrested 10 forex hawkers, that is, people who illegally deal in the sales of foreign currencies. They have been identified for illegally dealing in the sales of foreign currencies.

“We have Bureau De Change operators who are operating legally, and we didn’t touch them. We only arrest those who hawk foreign currencies.”

Naija News reports that Adeboye lamented that forex hawkers heavily influence the rate of the naira in exchange for the dollar and other foreign currencies, he further remarked that it was embarrassing for the country that we were still going to the roadside for foreign currencies in the twenty-first century.

While recommending individuals to use banks for foreign currency transactions, he stated that in order to make things easier for Nigerians, the federal government has gone so far as to register Bureau De Change operators in the country.

The development comes as the federal government continues to clamp down on illegal forex operators in a bid to save the country’s plummeting currency from a total collapse.