Politics
Naira Crisis: EFCC begins massive raid on Aboki FX
As the Naira crisis continues, falling to N857 to the dollar on the black market on Tuesday, the Economic and Financial Crimes Commission conducted simultaneous operations against Aboki Fx known as Bureau de Change operators in Abuja and Kano.
The raids, which netted a significant number of illegal BDC operators and people thought to be customers in the two cities, would also be expanded to Lagos, Onitsha, Ibadan, Port Harcourt, and other significant cities across the nation.
The incident caused a disruption in the day’s operations, according to our correspondents, as many BDC operators in Abuja went underground. Ismaila Atumeyi, a New Nigeria Peoples Party candidate for the Kogi State House of Assembly, and two others have been detained by the EFCC with N326 million and $140,500 cash.
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The EFCC agents, supported by armed police officers, stormed the black market forex dealers’ makeshift booths in Zone 4, Wuse, Abuja, while they were going about their regular business, arresting many of them.
Witnesses reported seeing the suspects being apprehended being dragged into waiting cars as the incident slowed down nearby traffic. The national currency has remained under pressure against the dollar following the Central Bank of Nigeria’s announcement that the redesigned naira notes will replace higher notes with effect from December 15 in order to combat counterfeiting, inflation, and insecurity.
The black market forex dealers were going about their daily business when EFCC agents, supported by armed police officers, stormed their makeshift booths in Zone 4 of Wuse, Abuja, and arrested a number of them.
As the incident slowed down nearby traffic, an eyewitness saw the suspects being arrested and being dragged into waiting cars. Following the Central Bank of Nigeria’s announcement that starting on December 15, the redesigned naira notes will take the place of higher notes in an effort to combat inflation, insecurity, and counterfeiting, the value of the local currency has remained under pressure against the dollar.