Falling Naira: EFCC Raids Bureau De Change Firms As $1 = #710

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Operatives of the Economic and Financial Crimes Commission on Friday raided the Wuse Zone 4 bureau de change hub of Abuja over the falling naira.

Our Correspondent gathered that 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.

“The anti-graft agency is working on intelligence that some forces with massive naira inflow have mobilized 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 learned 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.

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