The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, has arrested 12 suspects over alleged involvement in illegal Bureau de Change, BDC, operations.

EFCC’s Head of Media and Publicity, Dele Oyewale, confirmed the arrests in a statement yesterday.

According to him, the suspects were picked up on Wednesday after intelligence gathering and discreet surveillance by operatives.

Oyewale said preliminary findings revealed that the suspects were running BDC businesses without the mandatory regulatory approvals.

“Items recovered from them include various sums of cash and luxury jewellery,” Oyewale said.

He also disclosed that the suspects are currently being profiled, adding that they will be charged to court upon conclusion of investigations.