NewStats: 3,262,364 , 8,176,934 topics. Date: Monday, 02 June 2025 at 12:39 AM 5v5064

Operatives of the Economic and Financial Crimes Commission on Friday raided the Wuse Zone 4 bureau de change hub of Abuja over the falling naira.

The PUNCH learnt the EFCC operatives are investigating claims that some individuals are mopping up and hoarding foreign currency thereby causing a scarcity that is driving up the value of the dollar.

An EFCC detective who wished to remain anonymous said, “It is true. We stormed bureau de change firms in Wuse Zone 4, Abuja, for a covert operation to dislodge currency speculators who are alleged to be massively mopping up available foreign currencies.

“The raid is a product of weeks of surveillance in which agents of the EFCC have been monitoring the activities of most of the bureau de change operators in the Wuse 4 axis.

“The anti-graft agency is working on intelligence that some forces with massive naira inflow have mobilised resources and, are busy buying up available foreign currencies especially the US Dollar, to either hoard or smuggle the same out of Nigeria.”

It was also learnt that some operatives of the commission had been deployed at the Murtala Muhammed International Airport, Lagos and the Nnamdi Azikiwe International Airport, Abuja as part of a coordinated operation to halt the activities of currency speculators.

The Spokesman for the EFCC, Wilson Uwujaren, could not be reached for comment on Friday.

The Central Bank of Nigeria has in recent times come under criticism for failing to stabilise the naira which has continued to dip against major currencies.

The ruling All Progressives Congress had in 2015 promised to stabilise the exchange rate which stood at about N200/$1 on the black market at the time.

However, the naira hit an all-time low of N710 to the dollar earlier in the week, attracting criticisms from the opposition. The naira has, however, remained stable at N420/$1 on the official market.

https://punchng.com/falling-naira-efcc-raids-bureau-de-change-firms/

Una don raid tinubu and atiku house and bring out the dollars there

Nonsense

Chasing shadows

HIA!!!

Black man with black sense haba

Wetting Dey pain me be say them go say INTELLIGENT REPORT

Abfinest007:
Nonsense

Seconded.

this will only make the price go up

senseless people

Animal think better than these guys in Government.

Nigeria with huge population, no industrial base, thieving politicians transferring their loot into hard currency. Yet they left addressing these issues and instead will be raiding bureau the change for its depreciating naira!

If we were Russia with roboust industrial base, huge oil and gas exports and small population, we would be raiding the moon now for the depreciation of the Russian currency to the US dollar.

Truly blackman's brain na wah!

Confused people na AbokiFx dem first blame....

So it was not Abokifx again!

treesun:
Operatives of the Economic and Financial Crimes Commission on Friday raided the Wuse Zone 4 bureau de change hub of Abuja over the falling naira.

The PUNCH learnt the EFCC operatives are investigating claims that some individuals are mopping up and hoarding foreign currency thereby causing a scarcity that is driving up the value of the dollar.

An EFCC detective who wished to remain anonymous said, “It is true. We stormed bureau de change firms in Wuse Zone 4, Abuja, for a covert operation to dislodge currency speculators who are alleged to be massively mopping up available foreign currencies.

“The raid is a product of weeks of surveillance in which agents of the EFCC have been monitoring the activities of most of the bureau de change operators in the Wuse 4 axis.




“The anti-graft agency is working on intelligence that some forces with massive naira inflow have mobilised resources and, are busy buying up available foreign currencies especially the US Dollar, to either hoard or smuggle the same out of Nigeria.”

It was also learnt that some operatives of the commission had been deployed at the Murtala Muhammed International Airport, Lagos and the Nnamdi Azikiwe International Airport, Abuja as part of a coordinated operation to halt the activities of currency speculators.

The Spokesman for the EFCC, Wilson Uwujaren, could not be reached for comment on Friday.


The Central Bank of Nigeria has in recent times come under criticism for failing to stabilise the naira which has continued to dip against major currencies.

The ruling All Progressives Congress had in 2015 promised to stabilise the exchange rate which stood at about N200/$1 on the black market at the time.

However, the naira hit an all-time low of N710 to the dollar earlier in the week, attracting criticisms from the opposition. The naira has, however, remained stable at N420/$1 on the official market.

https://punchng.com/falling-naira-efcc-raids-bureau-de-change-firms/

Stable at 420 for where? Shoponna kill you there

Why didn't they raid the convention centres where dollars was being shared?

Hope this won't be counterproductive again

Use brains not brawns

Lalasticlala!

Soon they will go to bank s!

Always solving problems by cutting branches instead of working on the root! Ineptitude all over the nation

sinkhole:
Always solving problems by cutting branches instead of working on the root! Ineptitude all over the nation

Okija Priest, Dr Ngige said Nigeria is broke!

H

The fact is that Naira will continue to fall.. Nigerian sef don't even value their currency.. may God help this country

Is this how low this Government can go?
From blaming Aboki fx to this?

Well what do I expect from a Government of miambiala...

God forbid Bat thing...

EFCC is just there to take bribe and make most out of the present situation....that's all

Go after politicians if you really are working..

Bunch of misplaced priorities

Before taking u serious(BAWA)
PROBE Tinubu bullion van #2019 Election APC

Y

When will we accumulate sense in this country? Why is Emefiele still walking free? Going after BDCs is so nonsensical and wild goose chase

It's no longer Abokifx that's causing dollar scarcity as alleged few months ago. It's now local bureau de change operators. Failed government looking for excuses to justify their failure. I wonder why Emefiele is still sitting as governor of CBN. Well Buhari and Emefiele are birds of a feather, na the same mama born them. Their body Aura oozes failure

Initial gra gra. Very soon we shall see naira at 1k

Una go leave where una hit leg, go dey quarrel where una fall. Senseless f00ls

Raid Nigeria politicians houses, that's where the real dollars are.