In a bold move to stabilise the value of the Naira, Nigeria’s currency, the operatives of the Economic and Financial Crimes Commission (EFCC) on Friday
raided the offices of Bureau De Change.
The EFCC stormed the business centre of BDC in Wuse Zone 4, in the Federal Capital Territory, Abuja.
The operation was carried out in order to dislodge currency speculators who were alleged to be massively mopping up available foreign currencies – a development that has devalued the Naira.
Naira depreciation takes toll on investors, worsens uncertainty Naira crashes to N707/$ as Senate summons Emefiele
According to a highly placed official of the anti-graft agency, the raid was a product of weeks of surveillance. EFCC officials have reportedly been monitoring the activities of most of the Bureau De Change operators in Wuse zone 4 axis.
The anti-graft agency official said the commission was working on intelligence that some forces with massive Naira inflow have mobilized resources and, are busy buying up available foreign currencies especially the United States Dollar, to either hoard or smuggle the same out of Nigeria.
Some operatives of the Commission have been deployed to major airports in the country with a view to arresting those sabotaging economy of the country.
The operation is coordinated nationwide, and it will be extended to all the major commercial cities such Kano, Lagos and Port Harcourt.
The commission led by Mr Abdulrasheed Bawa was worried about a run on the value of the Naira with the currency exchanging for over N700 to a Dollar.
Leave a Reply