EFCC says 234 Bureau De Change-related cases are under investigation as it intensifies crackdown on economic and financial crimes.
The Economic and Financial Crimes Commission (EFCC) has recovered undisclosed funds and secured 72 convictions in cases involving Bureau De Change (BDC) operators between June 1, 2023 and June 30, 2026.
The EFCC Chairman, Ola Olukoyede disclosed this during a news conference in Abuja, noting that 234 cases involving BDC operators are currently under investigation.
He said the commission’s investigations covered several forms of economic and financial crimes, including advance fee fraud, bank fraud, money laundering, procurement fraud, cybercrime, tax fraud, land and property fraud, and extractive industry-related offences.
The EFCC chairman also defended the commission’s new policy on the management and auction of assets recovered from criminal activities under the Proceeds of Crime Act (POCA), insisting that the policy falls within the commission’s statutory mandate.
He further announced plans to establish a 24-hour rapid response centre by September 2026 to enable members of the public report economic and financial crimes.
The commission also disclosed that 50 of its personnel have been dismissed in the past three years, while five others are facing prosecution over alleged misconduct.
The EFCC said the measures are part of efforts to strengthen accountability within the commission and intensify the fight against economic and financial crimes.