Ibrahim Magu warns BDC operators to be wary of politicians’ excesses

Ibrahim Magu . EFCC

The Acting Chairman, Economic and Financial Crimes Commission, Mr. Ibrahim Magu has cautioned Bureau de Change operators in the country against aiding corrupt practices of some politicians.

Magu made this known at a meeting with the Association of Bureaux De Change Operators of Nigeria in Abuja on Thursday.

In a statement by Head, Media and Publicity, EFCC, Mr Tony Orilade, the chairman said the politicians often connived with BDC operators to steal public funds.

“These politicians transfer looted funds from government accounts to BDC’s accounts; in ten, twenty million in about 75 transactions in one day.

“This is done with only paperwork, no physical cash.

“The BDC operators now take the money to the politician’s village and also buy properties for them in and outside the country.

“They help clean up dirty money. When we start prosecuting them in every zone, others will sit up.

“We all have the responsibility to clean this country. We must always do the right thing.

”We shall go to the airports and border points and deal with those who help these thieves,” the chairman said.

Magu warned that the agency would prosecute operators and bankers who failed to comply with laws guiding the financial regulating system.

Earlier, Acting President of the Association, Alhaji Aminu Gwadabe, commended the EFCC chairman for his determination in the fight against corruption in the country.

He gave the assurance that about 5000 licenced members of the association were ready to collaborate with the commission in the fight against corruption.

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