Anti-corruption and elections / EFCC
Court Convicts, Fines Firm for Illegal BDC Operation in Lagos
Justice D.I. Dipeolu of the Federal High Court, sitting in Ikoyi, Lagos, on Friday, February 20, 2026, convicted and sentenced a company, AP Mcnisi Initiatives Limited, to a fine of N500,000( Five Hundred Thousand Naira) for operating a Bureau De Change (BDC) business without a valid licence. The conviction followed the arraignment of the company by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos on a one-count charge bordering on illegal foreign exchange transactions. The charge reads: “ That you, AP Mcnisi Initiatives Limited, on or about Ju…
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