The Bureau de Change operators in the Wuse Zone 4 region of Abuja were raided by agents of the Economic and Financial Crimes Commission on Monday.
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.
On Wednesday, February 7, 2024, EFCC spokesperson Dele Oyewale made a statement that included this information.
Dayyabu Mistila, a Bureau de Change operator, told reporters that the raid and subsequent arrest were caused by the operatives’ claim that the raid was prompted by the dollar’s and other currencies’ increasing exchange rate against the naira on the foreign currency market.
Over fifty of our members were taken into custody during an EFCC operation in Wuse Zone 4 on Monday at approximately 3 p.m. They were arguing, he said, that BDC owners were to blame for the dollar’s increase in value on the black market exchange market.
Mistila verified that they traded a dollar for N1,660, despite official FMDQ data indicating that the naira fell to N1,574.62 per dollar on Monday.