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Trouble as EFCC goes after BDC operators in Abuja hoarding dollars

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The EFCC believes currency speculation recently led to a drastic drop in the value of the naira.

Earlier the EFCC had raided some BDC hotspots in the capital city and also in Lagos.

The naira has since regained some of its lost value in the past few days.

In his meeting with the operators on Friday, Bawa sought a collaborative stakeholder response to brazen foreign exchange speculation, especially at the parallel market, according to a statement signed by EFCC spokesperson, Wilson Uwujaren.

“The operators, who thanked the EFCC for the invitation, expressed optimism that the Naira’s rebound, which began after the EFCC’s intervention a few days ago, may eventually see the currency return to its pre-speculation value,” the statement added. Continue Reading Here

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