EFCC raids BDC operators in Ibadan over alleged naira/dollar exchange hike

By Bushrah Adeshina, Ibadan

Operatives of the Economic and Financial Crimes Commission (EFCC) on Wednesday raided Bureau De Change operators in Sabo, Ibadan, over alleged hike in the naira/dollar exchange.

It was reported that the Federal Government had directed Nigeria’s secret police, Department of State Services (DSS) to force the BDCs to close down to save face over the free fall of the naira.

An eyewitness confirmed the incident saying more than ten arrests were made and a lot of cash was confiscated by the operatives.

“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,” he said.

He also confirmed the current trading rate in the market to be around N1,900 to N1,940.

A senior officer of the commission confirmed the raid, adding that a press statement would be issued on the raid.