BREAKING: EFCC Raids Black Market Forex Offices As Naira Falls Rapidly

Operatives of the Economic and Financial Crimes Commission raided the offices of black market currency dealers in Abuja on Tuesday in a bid to halt the rapid fall of the naira.

two white buses parked in front of the Musawa House along Constantine Street of Wuse Zone 4. The anti-graft operatives were seen dragging a BDC operator into one of the waiting vehicles, while people surged toward the officials.

Other EFCC officials stood at an intersection between Sheraton Hotel and Constantine Street adjacent Abacha Estate in the Wuse area as vehiclar traffic grew. BDC operators who did not want to be named for fear of arrest, said the dollar sold at N860 as of 1p.m on Tuesday.

The operator said: “For now, there is no dollar to sell. This morning (Tuesday), a dollar was selling for N850, while I bought a dollar at N840.”

Another BDC operator disclosed: “As of 1.53p.m, the USD was selling between N870 and N900 depending on sellers and buyers bargaining power.”