Court convicts BDC operator of illegal forex trading
The Federal High Court in Lagos on Tuesday sentenced a bureau de change (BDC) operator, Dabo Ardi, to two months in prison for engaging in foreign exchange transactions outside the official market.
Another judge Chukwujekwu Aneke of the Federal High Court in Lagos sentenced Mr Umar to six months’ imprisonment in February 2025, with an option of N50,000 fine.bureau de change (BDC) operator, Dabo Ardi The charge alleged that Mr Ardi, sometime in 2026 in Lagos, conducted a foreign exchange transaction outside the official foreign exchange market, contrary to Section 11(1)(a) of the National Economic Intelligence Committee (Establishment, etc.
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