Economic and Financial Crimes Commission (EFCC) has launched a nationwide manhunt against persons involved in currency racketeering.
According to sources at the EFCC, the move is to safeguard Nigeria’s foreign exchange market and combat speculative activities.
A source who asked not to be named told Peoples Gazette that EFCC’s concerted effort is to identify and bring to justice individuals engaged in currency-related illegal activities, including those involving foreign exchange speculation and other fraudulent practices.
Numerous viral videos on social media have depicted the EFCC arresting individuals, particularly those connected to bureaux de change. Successive governments have attributed the continuous decline of the naira against the dollar to these individuals.
According to sources to the peoples Gazette “The commission is determined to ensure that the foreign exchange market operates in a fair and transparent manner and that Nigeria’s economy is protected from criminal activities that could lead to its destabilisation,”