Spokesperson of the Command, SP Abdullahi Kiyawa disclosed this in a statement.
Kiyawa said the operation was carried out in collaboration with the Department of State Services (DSS), with the aim of stabilising the foreign exchange market and eliminate unauthorised operations.
The police raid targeted locations where foreign exchange transactions were taking place, ultimately resulting in the arrest of 29 individuals.
After thorough screening, 12 persons were released over their proven innocence from lack of evidence, while the remaining 17 were taken into custody.
The statement partly reads, “At the end of the operation, a total of twenty-nine (29) people were arrested out of which twelve (12) were screened out for lack of evidence while Seventeen (17) were arrested with the following exhibits recovered; (1) Sum of Sixty-eight Thousand (68,000) CFA, and (2) Thirty (30) Rupees (Indian Currency).
“Further investigation revealed that the seventeen (17) suspects were operating under one Association of unlicensed Bureau De Change and they will be charged to Court for prosecution,” the statement read.
Kiyawa said essence of the operation was to flush out elements that operates illegally in a bid to stabilise the foreign exchange market in the country.
The arrest excludes genuine Bureau de Change operators who carry on their legitimate businesses in their offices, the police spokesman explained.
Commissioner of Police in the state, Mohammed Gumel commended the combined efforts of the police and DSS operatives for their success in the operation.
He emphasised the importance of upholding the law while maintaining legitimate operations within the financial sector and warned that illegal practices will not be tolerated.
The statement also stated that the suspects will be prosecuted, while encouraging the public to report any suspicious movements or activities to the police.
