AGS NEWS – Justice Muhammad Nasir Yunusa of the Federal High Court in Kano State handed down convictions and sentences to 17 Bureau de Change operators on Monday.

The operators were found guilty of conducting business without the required license, a violation of Section 57 (5) (b) of the Banks and Financial Institutions Act of 2020.

Each offender faced either six months’ imprisonment or a fine of N50,000.

The convicted individuals, including Ayuba Ibrahim, Idris Saidu, Idris Usman, Shuaibu Muhammad, Hamisu Ilyasu, and 12 others, pleaded guilty to the one-count charge during their summary trial.

The arrests were made in a joint operation involving law enforcement authorities, including the police and operatives of the Department of State Services (DSS), at Wapa market in Fagge LGA the previous week.

Upon apprehension, security operatives confiscated 68,000 CFA francs and 30,000 rupees from the suspects as evidence of their illicit activities.