Nigeria, Aug. 29 -- The Economic and Financial Crimes Commission (EFCC) has arrested 12 suspected illegal Bureau de Change (BDC) operators in Lagos.

In a statement on Thursday, EFCC spokesperson Dele Oyewale said the suspects were arrested on Wednesday following credible intelligence and thorough surveillance regarding their alleged operation of BDCs without the requisite licences.

"Items recovered from them include cash and exotic jewellery. The suspects are currently undergoing further investigation and will be arraigned in court soon," Oyewale said.

Recently, EFCC has arrested and prosecuted several individuals for similar offences.

On 18 June, Abdulkarim Auwalu was arraigned before a judge, A.O. Owoeye of the Federal High Court in...