On Monday, February 19, operatives from the Economic and Financial Crimes Commission (EFCC) conducted a raid on a Bureau de Change located in the Wuse Zone 4 area of Abuja, resulting in the arrest of approximately 50 illegal operators.
The raid was part of the EFCC’s efforts to crack down on individuals degrading the Naira and contributing to the dependency of the Nigerian economy on the US dollar. Dayyabu Mistila, a Bureau de Change operator, confirmed the raid and stated that the operatives cited the increasing exchange rate of the dollar and other currencies compared to the Naira in the forex market as the reason for the raid.
