Monday, May 20, 2024

Naira devaluation: EFCC raids BDCs in Abuja

Operatives of the Economic and Financial Crimes Commission (EFCC) on Friday, raided the Wuse Zone 4 base of bureaux de change in Abuja.

According to the News Agency of Nigeria ( NAN), the raid, conducted on other locations across the country, was undertaken days after the CBN blamed currency speculators of exacerbating the crash of the naira against the dollar and other foreign currencies.

NAN quoted an authoritative source as saying that the raid was a product of weeks of covert operation.

“The idea is to dislodge currency speculators who are massively mopping up all available foreign currencies.

“The raid was a product of weeks of surveillance where agents of the EFCC monitored the activities of most of the bureaux de change operators in the Wuse 4 axis,’’ said the source.

The source, according to NAN, said enough intelligence was gathered that some people with massive naira inflow had mobilised resources and were buying up available foreign currency, especially the dollar.

“Similar operation has also been carried out at major airports in the country.



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