The raid of bureau de change (BDC) operators continued on Wednesday with the operatives of the Economic and Financial Crimes Commission (EFCC) storming major hubs in Lagos, Abuja, Ibadan, Kano and Aba.
Despite the raids, the NAFEX rate depreciated by 2.89% to close at N1,621.41/USD, while the BDC rate depreciated by 0.82% to close at N1,840/USD.
Findings by our correspondent revealed that the operatives stormed the Allen Avenue hub around 12 pm on Wednesday and arrested no fewer than 10 people.
In Ilorin, a BDC operator at Kwara Hotel confirmed to our correspondent that all the operators closed shops on hearing the news of the raid in Lagos, Abuja and Kano.
Similarly, operators in the famous Kano currency exchange market, WAPA, are said to have been apprehended by men of the EFCC on Wednesday afternoon.
According to an eyewitness, Malam Isma’ila Zico, officials of the EFCC were at the market in earlier hours of Wednesday in plain clothes, adding that it was after the market had filled up with activities that the men of the commission struck and apprehended some currency exchange operators.
When contacted, WAPA currency exchange market chairman, Alhaji Sani Salisu Dada, confirmed the raid, adding that the operatives of the EFCC were in the market to address the issue of dollar hoarding and operators that have not registered as certified bureau de change operators.
In Abuja, the security operatives arrested over 50 operators at the Zone 4 area of the FCT.
A senior executive at the Central Bank of Nigeria (CBN) described as “troubling” the bearish downward trade of the naira against the dollar in the last 10 days, attributing it to artificial devaluation caused by the speculative sites.
