Naira vs Dollar: EFCC Conducts Raids on Bureaux de Change Operators.

The majority of Abuja’s bureaux de change are located in Wuse Zone 4, which was raided by EFCC agents on Friday.

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The raid, which was also carried out in other areas of the nation, came days after the CBN accused currency speculators of escalating the naira’s decline against the dollar and other major world currencies. NewsReport gathered.

The News Agency of Nigeria (NAN) in Abuja was informed by a reliable source at the EFCC that the raid was the result of weeks of a covert operation.

“The idea is to dislodge currency speculators who’re massively mopping up all available foreign currencies,” the source said.

According to the source, 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 operations have also been carried out at major airports in the country.

“It is a nationwide coordinated operation and will be extended to major commercial cities of Kano, Lagos and Port Harcourt,” he added.

Efforts to get official confirmation on the raid from EFCC spokesperson, Wilson Uwujaren, were not successful as his phone was switched off.