EFCC raids BDCs in Kano, Abuja, Oyo

Some currency exchange operators in the famous Kano currency exchange market, WAPA, have...

Some currency exchange operators in the famous Kano currency exchange market, WAPA, have been arrested by the Economic and Financial Crime commission (EFCC).

According to an eyewitness, Malam Isma’ila Zico, officials of the EFCC were at the market in earlier hours of Wednesday.

“They were so tactical in the operation, it was after the apprehension that we found out that they have been in the market since morning. When it was time for them to strike, we then saw their operatives with crested vests and some other security agents, and they surrounded the Dollar exchange section of the market. I can’t say how many people were apprehended but they have taken away many operators,” said Zico.

When contacted WAPA currency exchange market Chairman, Alhaji Sani Salisu Dada, confirmed the raid, adding that the operatives of the EFFC were in the market to address the issue of dollar hoarding and operators that were yet to registered as certified bureau de change operators.

He explained that EFCC had made some arrests and those arrested were taken away for further investigations.

The chairman added that normal activities had returned in the market and the association was ever ready to comply should the need arise.

The operatives also raided Bureau De Change operators in Sabo, Ibadan, over alleged hike in the naira/dollar exchange.

An eyewitness who spoke with press confirmed the incident, saying about ten arrests were made and a lot of cash was confiscated by the operatives.
“They took about ten people. Amongst the arrested are people who don’t deal in exchange business, innocent people. They said they hiked the dollar to naira rate,” he said.
He also confirmed the current trading rate in the market to be around N1900 to N1,940.
The operatives also raided BDCs in Wuse Zone 4, Abuja.
The development comes after the National Security Adviser, Mallam Nuhu Ribadu, ordered a crackdown on currency speculators.

TLD Newsletter

Get the latest legal news, key cases, top lawyers, and expert analysis for your legal journey.

RELATED ARTICLES

No Bomb Recovered From Church In Abia — Police

The Abia State Police Command has denied reports making the rounds that a bomb or

NDLEA Arrests Businessman With Cocaine At Lagos Airport

Operatives of the National Drug Law Enforcement Agency have arrested a Brazil-based Nigerian businessman at

Emefiele: EFCC Witness Alleges $6.23m Withdrawn From CBN With Forged Papers

The Economic and Financial Crimes Commission’s PW11 witness in the trial of former Central Bank

Court Grants Yahaya Bello Permission To Travel For Lesser Hajj In Saudi Arabia

A former governor of Kogi State, Yahaya Bello, has been granted permission by the Federal

Police Arrest Six For ‘Hacking Telecom Firm To Divert ₦7.7bn Airtime,’ Recover ‘400 Laptops’

Operatives of the Nigeria Police Force (NPF) have arrested six suspects for allegedly hacking into

Naira Redesign: Court Fixes 10 Days To Conclude Trial Against Emefiele

Justice Maryanne Anenih of the Federal Capital Territory High Court High, has fixed fresh ten

TLD Newsletter

Get the latest legal news, key cases, top lawyers, and expert analysis for your legal journey.

This Pop-up Is Included in the Theme
Best Choice for Creatives

Purchase Now

TLD Newsletter

Get the latest legal news, key cases, top lawyers, and expert analysis for your legal journey.