On Tuesday, November 1, 2022, agents from the Economic and Financial Crimes Commission (EFCC) carried out a raid on the offices of black market currency traders in Abuja and detained an unknown number of individuals.
News organizations learned that the authorities invaded the Sheraton Hotel area of Abuja while heavily armed in order to detain some Bureaux De Change operators.
An observer saw the suspects being apprehended being carried into waiting cars as others walked by.
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The naira had lost value against the dollar throughout the previous week, and as of Monday, October 31, it was trading for N880 per dollar in the parallel market.
This comes after the Central Bank of Nigeria declared that the newest planned naira notes would start to circulate on December 15, 2022.
When our journalist called Wilson Uwujaren, the EFCC’s spokesperson, he was unable to confirm the operation.
“I will check and get back to you,” he said.
In the meantime, the panel expresses worry over the increasing number of cyberattacks on banks and the institutions’ reluctance to notify law enforcement of such violations.
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The EFCC urges to financial institutions to work with it to defend the financial sector from dangers of cyberattacks while cautioning that such timidity would only empower criminals.
After the Central Bank of Nigeria recently announced plans to redesign and reissue higher denominations of the naira, the EFCC warned Bureau de Change operators to be on the lookout for currency hoarders who would try to take advantage of the opportunity to sell the currencies they had illegally hidden away.
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