Bureau De Change (BDC) operators and members of the Economic and Financial Crimes Commission (EFCC) engaged in a heated altercation in Wuse Zone 4, Abuja, on Monday. Shots were fired during the confrontation, which was marked by the usage of firearms.
The war took place in the context of the naira’s frightening devaluation, which saw it fall to almost N1,700 to the dollar and N2,100 to the British pound. Abrupt actions, such as the forced closure of BDCs, were allegedly planned by authorities in an attempt to counteract the currency’s free fall, as a result of the economic upheaval.
It was revealed earlier in February that orders allegedly coming from senior government officials were the reason behind the shutdown of BDCs in Abuja. According to sources, the administration is attempting to address the currency crisis and salvage its reputation, instructed the Department of State Services (DSS) to intervene forcefully in the situation.
Forex Ban: Dollar Scarcity Hits Bureau de Change Operators
The Association of Bureau De Change Operators’ branch in Abuja was affected by the decision to end BDC operations, which led to the permanent closure of its corporate offices. The chapter’s chairman, Abdulahi Dauran, listed cryptocurrency transactions and online banking as significant contributors to the shortage of US dollars. But signs point to the group giving in to outside pressure and having to suspend activities indefinitely.
Protests in Ibadan, Oyo State, broke out at the same time as turmoil in Abuja, with locals airing their complaints over economic problems brought on by government policies. Protesters blocked key roads with signs like “E bi n pawa” (We’re hungry) and “Tinubu Ole” (Tinubu is a thief), interrupting traffic and calling attention to their situation.
A similar protest had previously taken place in Niger State’s Minna and Suleja, highlighting the general unhappiness with the state of the economy. Protesters called for an end to the overall suffering of the public, as well as growing inflation, petrol and fuel prices, and other problems.
Law enforcement organisations stationed armed officers in key spots to keep the peace during the demonstrations, anticipating any disturbances.
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