BY ABDULKADIR M. LAWAN, JULY 30, 2022 | 08:47 AM
Operatives of the Economic and Financial Crimes Commission (EFCC) 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 told the News Agency of Nigeria (NAN) 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.
Conflict Reporting is dangerous and risky. Our reporters constantly face life-threatening challenges, sometimes surviving ambushes, kidnap attempts and attacks by the whiskers as they travel and go into communities to get authentic and firsthand information. But we dare it every day, nonetheless, in order to keep you informed of the true situation of the victims, the trends in the conflicts and ultimately help in peace building processes. But these come at huge cost to us. We are therefore appealing to you to help our cause by donating to us through any of the following means. You can also donate working tools, which are even more primary to our work. We thank you sincerely as you help our cause.
Alternatively, you can also email us on
email@example.com or message us
via +234 803 931 7767
18 December 2022
09 February 2023
08 February 2022