Security operatives, including personnel from the Economic and Financial Crimes Commission (EFCC), the police force, and various agencies assigned by the National Security Adviser, continue their crackdown on marketplaces suspected to serve as hubs for forex speculators.

Nuhu Ribadu, the National Security Adviser, issued orders on Tuesday for EFCC, police, Nigeria Customs Service, and Nigeria Financial Intelligence Unit operatives to take action against forex market speculators who, he claimed, contribute to the current depreciation of the naira.

Addressing journalists in Abuja on Thursday regarding the nationwide operations, EFCC spokesperson Dele Oyewale revealed that a joint task force comprising five teams apprehended a total of 115 currency racketeers.

Oyewale explained that the suspects, consisting of 113 males and two females, were arrested in a sting operation at Owerri Road, Ogui, Enugu State, based on credible intelligence regarding their activities undermining the efforts of the apex bank.

The anti-graft agency’s spokesperson disclosed that some of the detained bureau de change operators, currency speculators, and street hawkers are foreigners from the Republic of Niger operating illegal foreign exchange markets in that vicinity.

The teams, he stated, recovered various items, including N110,700,000.00; $8,368.00; £145.00; €2,725; 900 South African rands; 32,000.00 CFA; 100 Turkiya, and 500 Bank Mozambique currencies in different denominations.

“Preliminary investigation showed that some of the suspects are foreigners from Niger Republic. They would soon be charged to court,” Oyewale stated.

Idowu Isamotu; From the News Source: DailyTrust