Bayelsa Times

EFCC raids Bureaux de change as naira depreciates against dollar


EFCC operatives on Friday raided Wuse Zone 4, home to most bureaux de change in Abuja.
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.

An authoritative source at the commission said in Abuja 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,’’ he said.

According to the source, enough intelligence was gathered that some people with massive naira inflow had mobilised resources and are buying up available foreign currency, especially the dollar.

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

“It’s a nationwide co-ordinated operation and will be extended to major commercial cities of Kano, Lagos and Port Harcourt,’’ the source added.

Efforts to get official confirmation on the raid from EFCC spokesperson, Mr Wilson Uwujaren were not successful as his phone was switched off. NAN

Related posts

Glo at 19: Upgrades 4G-LTE across country

Saheed Busari

FG launches GEEP 2.0 with 4,144 beneficiaries in Abia

Saheed Busari

Work Bank seeks accelerated implementation of NG-CARES by states

Saheed Busari

FG, states, LGCs share N673.137bn for August

Saheed Busari

Nigeria inaugurates gas infrastructure fund

Saheed Busari

Edo Govt, GIZ train public servants on business opportunities

Saheed Busari

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.