Naira Crash: EFCC Raids BDCs In Abuja, To Extend Operation To Lagos, Portharcourt, Others

July 30, 2022
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The majority of the bureaux de change in Abuja are located in Wuse Zone 4, which was searched by EFCC agents on Friday.

The raid, which was carried out in other areas of the nation, was carried out days after the CBN accused currency speculators of escalating the naira’s decline against the dollar and other foreign currencies, according to the News Agency of Nigeria (NAN).

According to a reliable source cited by NAN, the raid was the result of weeks of a covert operation.

“The goal is to drive out currency speculators who are systematically grabbing up all 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 mobilized resources and were 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 coordinated operation and will be extended to major commercial cities of Kano, Lagos, and Port Harcourt,’’ he added.

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