EFCC raids Abuja Bureau de change operators over dollar scarcity


Amid scarcity of dollars in the nation, operatives of the Economic and Financial Crimes Commission, EFCC, on Friday raided Wuse Zone 4 housing most bureau de change operators in Abuja.

A source at the EFCC with knowledge of the matter said the anti-graft agency stormed bureau de change firms in Wuse Zone 4, Abuja, for a covert operation to dislodge currency speculators who are alleged to be massively mopping up available foreign currencies.

“The raid is a product of weeks of surveillance in which agents of the EFCC have been monitoring the activities of most of the bureau de change operators in the Wuse 4 axis.

” We are working on intelligence that some forces with massive naira inflow have mobilised resources and, are busy buying up available foreign currencies especially the US Dollar, to either hoard or smuggle the same out of Nigeria”.

The exchange rate between the naira and the U.S. dollar has continued to fall with the naira falling beyond the N700/$1 threshold at the parallel market on Wednesday.

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