By Wale Odunsi The Economic and Financial Crimes Commission (EFCC) on Friday announced that individuals and bodies were causing Naira ...
By Wale Odunsi
The Economic and Financial Crimes Commission (EFCC) on
Friday announced that individuals and bodies were causing Naira fall.
The commission met with Bureau de Change (BDC) operators in
the Federal Capital Territory.
The chairman Abdulrasheed Bawa said he called the meeting to
fashion out ways to collaborate.
Bawa condemned the “brazen foreign exchange speculation
especially at the parallel market”.
The anti-graft chief said the actions were hurting the
country’s monetary policy by instigating a run on the value of the naira.
Bawa disclosed that the commission has intelligence linking
persons and organizations to the hoarding of foreign currencies, especially
U.S. dollars.
He identified Kano, Lagos, Port Harcourt, Enugu and Calabar
as states under watch, disclosing that a major offensive against the
speculators is under way.
Responding, the operators expressed optimism that the naira
may eventually return to its pre-speculation value with EFCC intervention.
Similar meetings will be held with other BDC dealers,
regulators, financial sector players and other stakeholders.
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