NGA Federal High Court in Lagos has sentenced BDC operator Dabo Ardi to two months in prison for conducting illegal foreign exchange transactions outside the official market. The conviction follows a guilty plea by Ardi, who was charged under Section 11(1)(a) of the 1994 National Economic Intelligence Committee Act. The Economic and Financial Crimes Commission (EFCC) prosecuted Ardi, citing his involvement in unauthorized forex activities in Lagos in 2026. This sentencing marks another instance of BDC operators being targeted by the EFCC, which has previously convicted others like Faruk Umar in 2025. Similar charges have been leveled against multiple BDC operators, with sentences ranging from six months to 12 months in prison, accompanied by fines as alternatives.
Bias read (Center): The article presents a factual legal proceeding without overt ideological framing. It reports on judicial actions against BDC operators under existing laws, focusing on enforcement rather than political advocacy. While the issue of illegal forex trading involves regulatory concerns, the article does
