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Falling Naira: EFCC Raids Bureau De Change Firms - Business - Nairaland

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EFCC Confiscates Over $6 Million From Bureau De Change Operators / EFCC Raids Abuja Bureaux De Change Offices / Efcc Raids Mtn Nigeria Head Office Over Share Listing (2) (3) (4)

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Falling Naira: EFCC Raids Bureau De Change Firms by treesun: 9:47pm On Jul 29, 2022
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/

10 Likes 1 Share

Re: Falling Naira: EFCC Raids Bureau De Change Firms by flejnr2(f): 9:54pm On Jul 29, 2022
Una don raid tinubu and atiku house and bring out the dollars there

396 Likes 24 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Abfinest007(m): 9:58pm On Jul 29, 2022
Nonsense

91 Likes 5 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Viscuz: 9:59pm On Jul 29, 2022
Chasing shadows

HIA!!!

Black man with black sense haba

Wetting Dey pain me be say them go say INTELLIGENT REPORT

306 Likes 15 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by LikeAking: 9:59pm On Jul 29, 2022
Abfinest007:
Nonsense

Seconded.

27 Likes 1 Share

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Angeldemon: 10:09pm On Jul 29, 2022
this will only make the price go up

senseless people

115 Likes 5 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by mcbreeze: 10:11pm On Jul 29, 2022
Animal think better than these guys in Government.

75 Likes 4 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by OreMI22: 10:12pm On Jul 29, 2022
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!

117 Likes 2 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by inoki247: 10:17pm On Jul 29, 2022
Confused people na AbokiFx dem first blame....

83 Likes 1 Share

Re: Falling Naira: EFCC Raids Bureau De Change Firms by treesun: 10:57pm On Jul 29, 2022
So it was not Abokifx again!

78 Likes 2 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Corto: 11:04pm On Jul 29, 2022
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

19 Likes 1 Share

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Mindlog: 11:13pm On Jul 29, 2022
Why didn't they raid the convention centres where dollars was being shared?

68 Likes 3 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by gabolak(m): 11:17pm On Jul 29, 2022
Hope this won't be counterproductive again

1 Like

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Yankee101: 11:23pm On Jul 29, 2022
Use brains not brawns

2 Likes

Re: Falling Naira: EFCC Raids Bureau De Change Firms by treesun: 8:44am On Jul 30, 2022
Lalasticlala!

1 Like

Re: Falling Naira: EFCC Raids Bureau De Change Firms by treesun: 9:52am On Jul 30, 2022
Soon they will go to bank accounts!

9 Likes 1 Share

Re: Falling Naira: EFCC Raids Bureau De Change Firms by sinkhole: 9:57am On Jul 30, 2022
Always solving problems by cutting branches instead of working on the root! Ineptitude all over the nation embarassed

26 Likes 2 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by treesun: 10:39am On Jul 30, 2022
sinkhole:
Always solving problems by cutting branches instead of working on the root! Ineptitude all over the nation embarassed

Okija Priest, Dr Ngige said Nigeria is broke!

2 Likes

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Toneypen247(m): 11:12am On Jul 30, 2022
H
Re: Falling Naira: EFCC Raids Bureau De Change Firms by SmellyNyash: 11:13am On Jul 30, 2022
grin
Re: Falling Naira: EFCC Raids Bureau De Change Firms by Melodistic(m): 11:13am On Jul 30, 2022
The fact is that Naira will continue to fall.. Nigerian sef don't even value their currency.. may God help this country
Re: Falling Naira: EFCC Raids Bureau De Change Firms by F4ku: 11:13am On Jul 30, 2022
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...

17 Likes 3 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by uchaymart(m): 11:13am On Jul 30, 2022
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

11 Likes

Re: Falling Naira: EFCC Raids Bureau De Change Firms by ekukeku(m): 11:13am On Jul 30, 2022
Before taking u serious(BAWA)
PROBE Tinubu bullion van #2019 Election APC

14 Likes 1 Share

Re: Falling Naira: EFCC Raids Bureau De Change Firms by SecretReporter(f): 11:13am On Jul 30, 2022
Y
Re: Falling Naira: EFCC Raids Bureau De Change Firms by Stanislause94: 11:13am On Jul 30, 2022
grin

1 Like

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Emilokan1(m): 11:14am On Jul 30, 2022
When will we accumulate sense in this country? Why is Emefiele still walking free? Going after BDCs is so nonsensical and wild goose chase grin

7 Likes

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Riversstate: 11:14am On Jul 30, 2022
grin

1 Like

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Evergreen4(m): 11:14am On Jul 30, 2022
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

28 Likes 2 Shares

Re: Falling Naira: EFCC Raids Bureau De Change Firms by clems88(m): 11:14am On Jul 30, 2022
Initial gra gra. Very soon we shall see naira at 1k grin

7 Likes

Re: Falling Naira: EFCC Raids Bureau De Change Firms by LOVEGINO(m): 11:14am On Jul 30, 2022
Una go leave where una hit leg, go dey quarrel where una fall. Senseless f00ls

8 Likes 1 Share

Re: Falling Naira: EFCC Raids Bureau De Change Firms by Offpoint1: 11:14am On Jul 30, 2022
Raid Nigeria politicians houses, that's where the real dollars are.

15 Likes 2 Shares

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