EFCC raids Abuja BDCs again as naira’s woes intensify
The Economic and Financial Crimes Commission on Tuesday invaded the offices of black market currency dealers in Abuja, arresting merchants as the value of the naira continues to fall.
According to reports, heavily armed officials raided Sheraton Hotel and its environs in Abuja to apprehend certain Bureaux De Change operators.
The development comes after Peoples Gazette reported that the value of the local currency deteriorated against the dollar, trading at N800 to the dollar and continuing to decline ever since.
Checks by The Gazette with Aboki Forex revealed that the country’s currency exchanged at N820 against the dollar on Tuesday evening,
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.”
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Adeleke’s victory demonstrates power of popular support, says Accord chieftain
He said that the outcome of the election was a reflection of Accord’s strength.
NationWide
FG reaffirms commitment to prioritising security, diaspora engagement
According to the minister, security remains a major challenge.
NationWide
Nigerians must learn from Osun election, protect their votes in 2027, says Obi
Mr Obi commended voters in the state for peacefully defending their democratic mandate.
States
NYSC hails corps members’ performance during Osun governorship election
Mr Kubiangha reiterated NYSC’s commitment to the safety and welfare of corps members.
Showbiz
Feature movie ‘The Man Died’ now available for audiences worldwide
The film tells the story of Wole Soyinka’s 27-month imprisonment by the Nigerian government during the 1967 Civil War.
States
Kwankwaso congratulates Adeleke on Osun governorship election victory
Mr Adeleke defeated his closest opponent, Bola Oyebamiji of the All Progressives Congress, who scored 444,815 votes.
