EFCC Arraigns Fake BDC Operator Over N78.2m Fraud in Onitsha

The Economic and Financial Crimes Commission (EFCC) has arraigned an alleged fake Bureau De Change (BDC) operator before a court in Onitsha, Anambra State, over a suspected fraud amounting to N78.2 million.

The defendant, whose case is being handled by the Enugu Zonal Directorate of the anti-graft agency, was brought before the court on charges bordering on obtaining money under false pretence and related financial crimes.

According to EFCC prosecutors, the suspect allegedly posed as a legitimate foreign exchange dealer and defrauded unsuspecting victims of the sum of N78.2 million through fraudulent currency exchange transactions.

Investigations revealed that the accused reportedly collected funds from victims under the guise of facilitating foreign exchange deals but failed to deliver on the transactions, leading to complaints that triggered EFCC intervention.

The defendant was subsequently arraigned before a competent court in Onitsha, where charges were read. He is expected to enter his plea, while the prosecution prepares to present evidence to substantiate the allegations.

Legal proceedings are ongoing, and the court is expected to determine bail conditions and adjourn the matter for further hearing.

The case is part of a broader crackdown by the EFCC on illegal foreign exchange operators and financial fraud schemes across Nigeria.