EFCC Raids Bureau de Change Operators

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EFCC Raids Bureau de Change Operators' Locations, CBN Blames Speculators For Dollar Hike

Operatives of the Economic and Financial Crimes Commission (EFCC) carried out a raid at Wuse Zone 4, a popular neighbourhood for bureau de change in Abuja.

BizWatch Nigeria reports that raids carried out in other locations across Nigeria, were done after the Central Bank of Nigeria (CBN) blamed currency speculators of exacerbating the crash of the naira against the dollar and other foreign currencies.

An operative revealed to the News Agency of Nigeria (NAN) in Abuja that the raid was a product of weeks of covert operation.

“The idea is to dislodge currency speculators who are massively mopping up all available 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,” he said.

Enough intelligence was gathered that some people with massive naira inflow had mobilised resources and are 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 co-ordinated operation and will be extended to major commercial cities of Kano, Lagos and Port Harcourt,” the source added.

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