Operatives of the Economic and Financial Crimes Commission (EFCC) on Friday raided Wuse Zone 4, where most bureaux de change in Abuja is located.
The raid, on BDCs and other locations across the country, comes days after the Central Bank of Nigeria blamed the further depreciation of the naira on currency speculators.
The News Agency of Nigeria (NAN) reported that the raid was a product of weeks of covert operation, citing an authoritative source at the commission.
“The idea is to dislodge currency speculators who are massively mopping up all available foreign currencies.
“The raid was a product of weeks of surveillance where agents of the EFCC monitored the activities of most of the bureaux de change operators in the Wuse 4 axis,” he 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 operation has also been carried out at major airports in the country.
“It’s a nationwide co-ordinated operation and will be extended to major commercial cities of Kano, Lagos and Port Harcourt,” the source added.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.