Nigeria, March 16 -- The Maiduguri Zonal Command of the Economic and Financial Crimes Commission (EFCC) took three people to court for running illegal money exchange businesses without permission. The court case happened on March 14, 2024, in Maiduguri, Borno State.

The accused individuals are Mustapha Abatcha, Adam Mohammed, and Mohammed Ali. They were each charged with operating a money exchange business without the proper license from the Central Bank of Nigeria.

Abatcha's charge states that he conducted this business between 2020 and 2024 in Maiduguri, Borno State, without the necessary license, which goes against the Banks and other Financial Institutions Act of 2020.

During the court proceedings, the defendants said they were not...