The naira, which has been depreciating against major currencies for the past two weeks, has made a comeback in the parallel market, registering gains. Recall that the Nigerian currency touched an all-time low of almost N850 per US dollar on the black market shortly after the Central Bank of Nigeria (CBN) announced intentions to redesign... Read More

bureau de change, dollar, Dollar crashes, naira, parallel market

October 25, 2017

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“I was certain I didn’t blink” | Nigerian lady narrates how she was scammed of $4000

When Ada (not real name) set out for her bank transactions on that fateful Friday, October 13, she was oblivious of the incident waiting to happen. After withdrawing $4000 from a commercial bank in Marina, Lagos, the accountant was approaching her car when a random northerner dressed in his traditional wear, posing as a bureau... Read More

Featured, The News Blog

‘Lady’, 4000, Ada, bureau de change, lagos, marina, scammed

April 8, 2017

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EFCC uncovers N448m hidden in Lagos plaza

by Azeez Adeniyi The Economic and Financial Crimes Commission on Friday evening uncovered N448,850,000 (Four hundred and forty eight million, eight hundred and fifty thousand naira) in a shop at LEGICO Shopping Plaza, Ahmadu Bello Way, Victoria Island, Lagos. The money stashed in several Ghana Must Go bags were in N500 and N1000 denominations, hidden... Read More

The News Blog

bureau de change, EFCC, Lagos plaza, N448m

March 31, 2017

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CBN to begin sale of forex to BDCs twice weekly

The Central Bank of Nigeria on Thursday said it would from next Monday begin the sale of foreign exchange to Bureau De Change operators twice weekly. Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, disclosed this in a statement. [Read Also: CBN OFFERS $100M FOREX FOR CORPORATE CUSTOMERS] He said the move was part of the... Read More

The News Blog

BDCs, bureau de change, CBN, Forex, sale

February 24, 2017

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Just In: Court grants Seun Egbegbe N5m bail

by Dolapo Adelana The Federal High Court in Lagos has granted Seun Egbegbe and one Mr. Oyekan Ayomide bail in the sum of five million naira, according to Sahara Reporters. Both men were arrested for defrauding some Bureau De Change operatives of over N40.647 million between 2016 and February 2017 before he was apprehended by... Read More

The News Blog

bail, bureau de change, Fraud, N5m, Oyekan Ayomide, Seun Egbegbe

January 14, 2014

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How I made N45 million from one operation – Robbery suspect reveals (PICTURED)

by ‘Jola Sotubo A suspected armed robber yesterday revealed to police in Lagos just how much he had made from his illicit ways. Samuel aka Asiwaju, during his confession, also disclosed that he was a member of a gang which raided the Murtala Mohammed International Airport (MMIA), and robbed some Bureau De Change operators working... Read More

September 17, 2013

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N2.05b fraud: 4 undergraduates, bureau de change operators arrested by the EFCC (PICTURED)

by ‘Jola Sotubo Four persons have been arrested by the Economic and Financial Crimes Commission (EFCC) for perpetrating fraud to the tune of N2.05 billion. Salihu Liman Mahmoud and Dan Asabe Ibrahim, both bureau de change operators and two University of Jos undergraduates, Isaiah Friday and Azzaior Samuel, were apprehended by agents of the anti-graft... Read More

arrested, bureau de change, EFCC, fraudsters, scam, undergraduates

July 23, 2013

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Finally: EFCC arrests serial fraudster in Abuja over $92,000 scam (PICTURED)

by Rachel Ogbu A suspected serial fraudster has finally been arrested by the Nigeria’s Economic and Financial Crimes Commission (EFCC) in Abuja after more than two months’ of frantic manhunt for him over a $92,000 scam. Princewell Arinze Chukwueze’s arrest followed an allegation of sham transactions involving him and a well known Bureau de change... Read More

$92, 000 Scam, bureau de change, Economic and Financial Crimes Commission, EFCC, Princewell Arinze Chukwueze, serial fraudster

March 14, 2013

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2 policemen killed at Murtala Mohammed International Airport Lagos during late night robbery attack

by Rachel Ogbu Two policemen were killed at the International wing of the Murtala Mohammed Airport Lagos, last night after about 10 armed robbers stole a huge amount of foreign currencies from bureau-de-change operators, officials said. It was at about 9pm when the robbers were said to have arrived and went to the bureau-de-change operator’s center... Read More

bureau de change, Murtala Mohammed Airport Lagos, robbery attack

January 13, 2013

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Customs arrest 3 Nigeriens with N15m cash hidden under car seats (PICTURED)

by Isi Esene Three Nigeriens were yesterday paraded by men of the Nigerian Customs for trying to smuggle N15 million cash into the country. The money was hidden under the seats and footmats of a Honda Academy vehicle with the three nationals of Niger Republic accompanying it. The three suspects, Abdulrasheed Usman, 22, his brother... Read More

bureau de change, Customs, kano, katsina, Niger, smuggling, Yusuf Umar

October 25, 2012

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Wonders: Policemen tried to rob us – Bureau de change operators

by Hauwa Gambo Some bureau de change operators on Allen Avenue in Lagos have accused four policemen of attempting to rob them. Speaking to Punch on Wednesday, the operators said the policement, who were not in uniform, stormed the bureau de change section of Alade Market, pretending they wanted to change some foreign currency into... Read More

bureau de change, police

Dollar falls to N730 at parallel market; Hoarders of naira notes purchasing dollar bills from BDEs

“I was certain I didn’t blink” | Nigerian lady narrates how she was scammed of $4000

EFCC uncovers N448m hidden in Lagos plaza

CBN to begin sale of forex to BDCs twice weekly

Just In: Court grants Seun Egbegbe N5m bail

How I made N45 million from one operation – Robbery suspect reveals (PICTURED)

N2.05b fraud: 4 undergraduates, bureau de change operators arrested by the EFCC (PICTURED)

Finally: EFCC arrests serial fraudster in Abuja over $92,000 scam (PICTURED)

2 policemen killed at Murtala Mohammed International Airport Lagos during late night robbery attack

Customs arrest 3 Nigeriens with N15m cash hidden under car seats (PICTURED)

Wonders: Policemen tried to rob us – Bureau de change operators

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