In a significant move aimed at addressing the surge in the dollar-to-naira exchange rate, operatives of the Economic and Financial Crimes Commission (EFCC) have conducted extensive raids on Bureau De Change operators in Ibadan.
The intensified crackdown comes amidst growing concerns over the daily depreciation of the Naira against the US Dollar, prompting swift action from authorities. Sources indicate a correlation between the raids and directives allegedly issued by the government led by Tinubu, which purportedly instructed the Department of State Services (DSS) to compel the closure of BDCs in a bid to mitigate the currency’s downward spiral.
The EFCC’s operation underscores a concerted effort to stem illicit financial activities and restore stability to the nation’s currency market. More details on this developing story are expected to emerge as the investigation progresses.
More Details Soon….
