BREAKING: EFCC Raids Black Market Forex Offices Over Naira Fall

BREAKING: EFCC Raids Black Market Forex Offices Over Naira Fall | Daily Report Nigeria

Operatives of the Economic and Financial Crimes Commission on Tuesday, raided offices of black market currency dealers in Abuja in a bid to halt the rapid fall of the naira.

Daily Report Nigeria reports that the operatives stormed the Sheraton Hotel area of Abuja and arrested some Bureaux De Change operators.

According to eyewitnesses, the anti-graft operatives who were fully armed were seen dragging a BDC operator into one of the waiting vehicles, while people surged towards the officials.

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The Naira had depreciated further against the dollar at the parallel market as it exchanged for N880 per dollar as of Monday, October 31.

This is coming after the Central Bank of Nigeria announced that the proposed newly-redesigned naira notes would be in circulation from December 15, 2022.

The President, Muhammadu Buhari has backed the move, noted that it will help fight corruption

The EFCC had in the wake of the recent announcement by the Central Bank Nigeria of plans to redesign and re-issue higher denominations of the naira, warned Bureau de Change operators to be wary of currency hoarders who would attempt to seize the opportunity to offload the currencies they had illegally stashed away.


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