Reports indicate that the Economic and Financial Crimes Commission (EFCC) detained approximately 50 illicit Bureau de Change (BDC) operators during a recent crackdown.
In response to the devaluation of the naira, the EFCC established a Special Task Force across its commands to target individuals engaged in currency mutilation and the dollarization of the Nigerian economy.
The spokesperson for the EFCC, Dele Oyewale, previously affirmed this initiative in a statement released on Wednesday, February 7, 2024.
“The EFCC has deployed a Special Task Force in all its zonal commands to enforce existing laws against currency mutilation and the dollarization of the economy.
“The task force, inaugurated by the Executive Chairman of the commission, Ola Olukoyede, aims to safeguard the economy from abuses, leakages, and distortions that jeopardize its stability and integrity,” the statement explained.
Dayyabu Mistila, a Bureau de Change operator, confirmed the search and subsequent arrests to journalists, revealing that the operatives cited the escalating exchange rate of the dollar and other currencies against the naira in the forex market as the rationale behind the raid.
“At around 3 pm on Monday, EFCC officers conducted a raid in Wuse Zone 4 and apprehended over 50 of our members. They alleged that BDC operators were contributing to the surge in the dollar’s exchange rate at the parallel market,” Mistila stated.
A viral video captured the moment when EFCC agents descended on the BDC and discharged firearms into the air to disperse operators who attempted to encircle them.