- By Femi Alabi
Operatives of the Economic and Financial Crime Commission (EFCC) on Wednesday raided Bureau De Change operators in Sabo, Ibadan, over an alleged Naira/dollar exchange hike.
The latest development comes after the National Security Adviser, Mallam Nuhu Ribadu, ordered a crackdown on currency speculators.
Confirming the raid, an eyewitness said the current trading rate in the market is around N1900 to N1,940,
The eye witness added that the operatives confiscated a lot of cash and arrested ten people.
He said, “They took about ten people. Amongst the arrested are people who don’t deal in exchange business, innocent people. They said they hiked the dollar to Naira rate.”