Naira: EFCC storms Bureaux De Change

Glory Ebomah

Operatives of the Economic and Financial Crimes Commission, EFCC, on Friday, 29 July 2022 stormed Wuse Zone 4, Abuja, home to most bureau de change operators in the Federal Capital Territory, in what a source said was a covert operation to dislodge currency speculators who are alleged to be massively mopping up available foreign currencies.

It was learnt that the raid was the product of weeks of surveillance in which agents of the EFCC had been monitoring the activities of most of the Bureau de change operators in the Wuse 4 area.

The anti-graft agency was said to be working on intelligence that some forces with massive Naira inflow have mobilized resources and, are busy buying up available foreign currencies, especially the United States Dollar, to either hoard or smuggle the same out of Nigeria.

It was, however, learnt that some operatives of the Commission have also been spotted at major airports in the country, in what a source said is a coordinated nationwide operation that will be extended to all the major commercial cities such Kano, Lagos and Port Harcourt.

There has recently been a run on the value of the Naira with the currency exchanging for over N710 to a Dollar.

The commission’s spokesman, Mr Wilson Uwujaren, was not available for comment.