The Association of Bureau De Change Operators of Nigeria (ABCON) has reacted to reports on the recent arrest of some of its members by security operatives.
ABCON in its reaction confirmed that some of its members were invited for questioning over the investigation of some of their transactions which border on money laundering, terrorism financing and Know Your Customer status.
This disclosure was contained in a press statement titled, ‘ABCON statement on the recent clampdown on some member BDCs, issued by the association and signed by its President, Aminu Gwadebe.
ABCON in its statement said that it considers these as serious allegations especially given the security challenges facing the country. It appealed to the authorities to expedite action to ensure that innocent people who have been caught up in this investigation can be released so that they can return to their anxious families and resume their lives.
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The statement from ABCON reads, ‘’In view of the several calls received from the media and other stakeholders regarding our position on the recent arrest of some member BDCs, the association hereby states as follows:
‘’We hereby confirm that some of our members have been invited to answer questions regarding some of their transactions. The Executive Council of ABCON has been in communication with the authorities over the development and understand that the investigation borders on issues relating to money laundering, terrorism financing and Know Your Customer status. ABCON considers these as serious allegations especially given the security challenges across the country.
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We strongly identify with the desire of every patriotic citizen for thorough investigation with the authorities following every possible lead and taking necessary measures that could improve the security situation in the country. We however appeal to the authorities to expedite their work to ensure that innocent people that have been caught up in this investigation can be identified quickly and released so that they can return to their anxious families and resume their lives.
We also trust that the authorities will follow the rule of law and ensure those with a case to answer have their day in court. The rule of law is after all the foundation upon which every functional society stands.
On our part, we like to assure the public and the government of the willingness of ABCON to cooperate fully with relevant agencies to ensure our business is not in any way used or exploited for any form of malpractice or activity that is against the laws of the land and thus undermine the stability of the country.’’
What you should know
- Recall that on Tuesday, March 23, 2021, ABCON, through its lawyer, had said that 26 of its members were detained by the Department of State Security Services (DSS) without charging them to court, in what he described as a breach of their fundamental human rights.
- They said the DSS had been holding these Bureau De Change operators after inviting them from Kano, Yola, Sokoto, Minna and Lagos for questioning for over 2 weeks, adding that they had not been allowed access to their families and that letters of inquiry about the offences they were being detained for were ignored by the agency.