The capital of Oyo State, Ibadan, has seen raids by agents of the Economic and Financial Crimes Commission, or EFCC, at the offices of some Bureau de Change operators.
According to reports, the EFCC detained twelve operators who owned stores in the Sabo area during the operation.
“EFCC are around Sabo & They’ve arrested 12 people,” an eyewitness reported. They arrived early in the day.
The National Security Advisor, Nuhu Ribadu, ordered several law enforcement organizations to take harsh measures against “dollar racketeers” on Tuesday.
The NSA directive was issued at a time when the naira’s official and unofficial markets were continuing to see a faster pace of fall against the US dollar.
On Monday, the Bureau de Change operators in the Wuse Zone 4 region of Abuja were searched by the EFCC.
It was reported that they had taken in roughly fifty illegal operators.
The EFCC established a Special Task Force across all of its commands in response to the declining value of the naira in order to crack down on those who are devaluing the currency and driving the Nigerian economy toward the dollar.
