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With naira crashing to an all-time low at N840 to a United States’ dollar at the parallel market, operatives of the Economic and Financial Crimes Commission (EFCC) on Tuesday stung Bureau De Change (BDC) operators at their operational hub located at Wuse Zone 4, where some of them were arrested.
The operation was consistent with the promise made by the EFCC Chairman, Abdulrasheed Bawa, to help curb the cancerous activities of currency speculators that has hurt the naira gravely, especially with the planned naira redesign.
Sources at the anti-graft agency confirmed the development.
According to eyewitnesses, the operatives stormed the BDC operators’ base at Musawa House along Constantine Street of Wuse Zone 4 in two white buses and were fully armed. “The anti-graft operatives dragged a BDC operator into one of the waiting vehicles, while people gathered”, an eyewitness stated.
In July this year, a similar operation by the EFCC was carried out over allegations that some BDC operators were mopping up foreign currencies, making the naira fall against the dollar. The raid then was prompted after the anti-graft agency received intelligence that some individuals were buying dollars in large quantities, a move projected to create scarcity and further weaken the naira.
