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| EFCC operatives |
The Economic and Financial Crimes Commission raided black market currency traders' offices in Abuja on Tuesday, arresting businesspeople as the value of the naira continues to decline.
According to accounts, heavily armed officials carried out a raid on the Sheraton Hotel and the area around it in Abuja in order to capture certain Bureaux De Change operators.
The change occurs shortly after PRIME 9JA ONLINE reported that the local currency's value has fallen against the dollar, trading at N800 to the dollar and has since continued to plummet.
The country's currency exchanged at N820 to the dollar on Tuesday night, according to inquiries made by PRIME 9JA ONLINE to Aboki Forex.
Recently, the Godwin Emefiele-led apex bank announced plans to redesign the naira, giving Nigerians till January 31, 2023, to return their old currencies to the bank’s vault.
However, experts have anticipated that politicians will overwhelm BDC operators with the old currencies that they have accumulated at home in an effort to avoid direct transactions with the bank, which will increase demand for dollars.
The dollar has continued to rise since the apex bank announced plans to redesign the naira.
When contacted by The Gazette, EFCC spokesperson, Wilson Uwujaren was unable to confirm the development, saying, “I’m not aware of the raid.”