Categories: Crime Watch Headline

Naira vs Dollar: EFCC Raids Bureaux De Change Operators

Advertisement
Advertisement

EFCC has raided Bureaux De Change Operators in Abuja over naira to dollar exchange rate escalation.

 

 

 

Newsonline reports that the operatives of the Economic and Financial Crimes Commission (EFCC) on Friday raided Wuse Zone 4, home to most bureaux de change in Abuja.

 

ALSO: CBN Reassures Nigerians on Forex As Naira Gains at Parallel Market

 

The raid, conducted in other locations across the country, was undertaken days after the CBN blamed currency speculators for exacerbating the crash of the naira against the dollar and other foreign currencies.

 

An authoritative source at the EFCC told the News Agency of Nigeria (NAN) in Abuja that the raid was a product of weeks of a covert operation.

 

“The idea is to dislodge currency speculators who’re massively mopping up all available foreign currencies,” the source 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 operations have also been carried out at major airports in the country.

“It is a nationwide coordinated operation and will be extended to major commercial cities of Kano, Lagos and Port Harcourt,” he added.

 

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

Advertisement
NewsOnline Nigeria

Recent Posts

  • Economy And Business

BREAKING: Senate Passes Controversial Tax Reform Bills For 2nd Reading

Senate has passed the controversial Tax Reform Bills for 2nd reading.   NewsOnline Nigeria reports…

17 minutes ago
  • Headline

BREAKING: FG Announces Date To Conduct Nationwide Population Census

FG has announced a date to conduct a nationwide population census in Nigeria.   NewsOnline…

22 minutes ago
  • Headline

BREAKING: Nigeria Gets New Chief of Army Staff (PHOTO)

Nigeria has gotten a new Chief of Army Staff, Oluyede following his confirmation by the…

23 minutes ago
  • Headline

BREAKING: President Tinubu Set To Appoint Nigeria’s Ambassadors, High Commissioners

President Tinubu is set to appoint Nigeria’s ambassadors and high commissioners to various countries and…

3 hours ago
  • Crime Watch

BREAKING: EFCC Arraigns Former Kogi Governor, Yahaya Bello On Fresh Charges

EFCC has arraigned Former Kogi Governor, Yahaya Bello on fresh charges.   NewsOnline Nigeria reports…

4 hours ago
  • Crime Watch

BREAKING: Finnish Court Announces Deadline For Simon Ekpa’s Trial

A Finnish court has announced a deadline for Simon Ekpa’s trial.   NewsOnline Nigeria reports…

4 hours ago