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Nigerian security operatives including officials of the Economic and Financial Crimes Commission (EFCC) on Wednesday raided some Bureau De Change outlets in the Federal Capital Territory, Abuja, arresting over 100 operators as the country’s currency slipped further. Nigeria's naira on Wednesday dropped to a record low against the dollar on the official market. SaharaReporters learnt that the naira now exchanged for N1980 to $1 on the parallel market and N1780 on the official market as the swift decline continued amid the government’s clampdown on currency speculators. ....
Personnel of the Economic and Financial Crimes Commission (EFCC) on Monday violently clashed with Bureau De Change operators in Wuse Zone 4, Abuja, Federal Capital Territory. SaharaReporters learnt that the BDCs were forced to close down to save face and arrest the free fall of the naira. This comes as the naira further depreciated to about N1,700 to a dollar and N2,100 to the British Pounds. SaharaReporters learnt that the EFCC employed the use of firearms to force the BDC operators to stop trading, leading to the firing of gunshots. ....
President Bola Tinubu’s government is behind the shutting down of Bureaux De Change in Abuja, Nigeria’s capital, SaharaReporters has learnt. Sources told SaharaReporters that Tinubu’s government 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. It was learnt that the DSS subsequently took over the market amid the government’s frantic effort to stabilise the naira and save face. ....
The Abuja chapter of Association of Bureau De Change (BDC) Operators has announced the closure of their business premises indefinitely from Thursday, February ....