EFCC Identifies Those Behind Naira Fall, Makes Arrests As Traders Quote New Dollar Exchange Rate [Video]

• EFCC has conducted another round of arrests of currency traders amid the recent depreciation of the naira
• The multiple arrests made in Abuja were part of the Nigerian government’s efforts to combat currency speculation in the country
• The value of the naira in the official market and also in the unofficial market continues to depreciate

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Economic and Financial Crimes Commission has identified Bureau De Change operators as one of the reasons for the continued fall of the naira in the foreign exchange markets and has raided their locations.

The latest raid was carried out in the Wuse Zone 4 area of Abuja, with an unidentified number of BDCs operators arrested.

EFCC arrests BDC operators

Punch reports that currency traders arrested by …