Nigeria: Dollar Scarcity - EFCC Raids Currency Shops in Abuja

Loot. Dollars. USD. U.S.$. Foreign Currency.
30 July 2022

Abuja — As Doĺlar scarcity persists, operatives of the Economic and Financial Crimes Commission have stormed currency dealers shops in partsbof Abuja to arrest the perpetrators of the financial crime.

In particular, the operatives scanned Bureau de change shops in the Wuse Zone 4 axis of the FCT to arrest those mopping up the popular American currency thereby causing scarcity.

Vanguard gathered that the covert operation was targeted at apprehending currency speculators who are alleged to be massively mopping up available foreign currencies in the city thereby compounding Nigeria's financial woes.

It was further learnt that before swoppingbon the unpatriotic dealers, the agents of the anti-graft afency had carried out a week-long surveillance on the illicit activities of the currency dealers who have mopped up available Dollars, which is most sought after by Nigerians for school fees abroad and other dealings.

According to a reliable EFCC source, more operatives of the commission would be unleashed in the days ahead for a coordinated operations in major Nigerian airports and cities such as Kano, Lagos and Port Harcourt and Kaduna states.

It will be recalled that as a result of underhand dealings, the Naira has further crashed in value leading to an exchange rate of over N710 to a Dollar.

Effort to reach reach the Spokesman for the EFCC, Wilson Uwujaren, proved abortive as he neither picked nor responded to messages sent to his phone.

AllAfrica publishes around 600 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.