Officials of the Economic and Financial Crimes Commission on Tuesday stormed areas in Abuja where dealers – Bureau de Change operators – trade foreign currencies against the naira.
The raid came as the naira continued its decline against the US dollar, exchanging for as high as N850 to $1.
EFCC Storms BDC Operators In Abuja As Naira Continues Slide Against Dollar
The EFCC confirmed the raid to Channels Television but did not disclose details.
Last week the Central Bank of Nigeria (CBN) announced a redesign of the naira as part of measures to tighten monetary policy.
Critics of the measure say the naira’s redesign would lead to more demand for dollars.