EFCC invade Abuja Bureau De Change (BDC) outlets to halt Naira from further sliding

Spread the love

Operatives of the Economic and Financial Crimes Commission (EFCC) on Friday invaded the Wuse Zone 4 bureau de change hub of Abuja to halt further devaluation of the Naira.

READ ALSO:  FAYOSE in severe back pains, undergoes spinal cord surgery, needs your prayers (WATCH VIDEOS+PHOTOS)

The EFCC operatives are investigating claims that some individuals are mopping up and hoarding foreign currency thereby causing a scarcity that is driving up the value of the dollar.

An EFCC detective who wished to remain anonymous said, “It is true. We 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.

READ ALSO:  I took two of her training kits and burnt them to discourage her from sports – TOBI AMUSAN’S FATHER (INTERESTING INTERVIEW)

“The anti-graft agency is 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.”

It was also learnt that some operatives of the commission had been deployed at the Murtala Muhammed International Airport, Lagos and the Nnamdi Azikiwe International Airport, Abuja as part of a coordinated operation to halt the activities of currency speculators.

The Spokesman for the EFCC, Wilson Uwujaren, could not be reached for comment on Friday.

READ ALSO:  INSIDE LIFE: YAHOO Boy murders girlfriend in Bayelsa, buries her in his room

The Central Bank of Nigeria has in recent times come under criticism for failing to stabilise the naira which has continued to dip against major currencies.

The ruling All Progressives Congress had in 2015 promised to stabilise the exchange rate which stood at about N200/$1 on the black market at the time.

However, the naira hit an all-time low of N710 to the dollar earlier in the week, attracting criticisms from the opposition. The naira has, however, remained stable at N420/$1 on the official market

READ ALSO:  INSIDE LIFE: Prospective Corps member killed on her way to NYSC Camp, body parts missing (FRIENDS MOURN)

Editor’s Note:  Contact SOJ WORLDWIDE ONLINE NEWS (www.sojworldnews.com) for your wedding ceremony, birthday, conference, Exclusive interviews, placing of advert banner, publicity and awareness on 09069473894.

KINDLY send your name and location to our WhatsApp No. 09069473894.to receive our news updates directly into your WhatsApp box.

SOJ WORLDWIDE…an ONLINE NEWS with a difference.

About Bola Ogunmuyiwa 1588 Articles
BSc Agric Science

Be the first to comment

Leave a Reply

Your email address will not be published.


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