The Economic and Financial Crime Commission (EFCC), Kaduna Zonal Office has raided popular bureaux de change located at Hamdala hotel as part of measures to stabilize naira to the dollar.

In the same vein, officials also raided similar joints located within Kaduna metropolis.

In a statement by the Acting Head of Media, Tony Orilade on Saturday disclosed that the directives to monitor the bureaux de change came from the acting chairman of the commission, Ibrahim Magu.

According to the statement, the move was to stop saboteurs from sabotaging the efforts of the Federal government in stabilising the naira to the dollar.

The bureaux de change operators were also warned against hoarding, as it amounted to an act of sabotage.

‘ With a further warning that any individual or group caught involved in such illegal and illicit financial transactions will be made to face the full wrath of the law, the statement stressed.

It will be recalled that, as soon as the news of the oil price crash was announced operators of currencies started hoarding dollar and making transactions difficult for end-users.

Central Bank of Nigeria (CBN) on Thursday night said it had enough foreign exchange reserves to maintain the current value of the naira. In a statement, the apex bank said it had set security agencies on the track of currency speculators who were causing panic in the market…



https://tribuneonlineng.com/oil-price-crash-efcc-raids-hamdala-hotel-bureaux-joints-in-kaduna/amp/

Very illogical and stupid.

Our elementary knowledge of Economics says supply and prices of commodity are directly related.

Arrest of BDE operators for increased forex is as stupid as arresting any other marketer for increased price of commodity.

If the commodity is in sufficient supply, nobody will patronise any marketer with unusually high prices.

So how many of the operators dem want arrest?

What kind of govt is this ....

ok

[s]

Simplyleo:
Very illogical and stupid.

Our elementary knowledge of Economics says supply and prices of commodity are directly related.

Arrest of BDE operators for increased forex is as stupid as arresting any other marketer for increased price of commodity.

If the commodity is in sufficient supply, nobody will patronise any marketer with unusually high prices.

So how many of the operators dem want arrest?

[/s]

Deliberately Causing The Scarcity of a product is an offence under Nigerian Law unknown to many, its Called economic Sabotage

gouken2:
The Economic and Financial Crime Commission (EFCC), Kaduna Zonal Office has raided popular bureaux de change located at Hamdala hotel as part of measures to stabilize naira to the dollar.

In the same vein, officials also raided similar joints located within Kaduna metropolis.

In a statement by the Acting Head of Media, Tony Orilade on Saturday disclosed that the directives to monitor the bureaux de change came from the acting chairman of the commission, Ibrahim Magu.

According to the statement, the move was to stop saboteurs from sabotaging the efforts of the Federal government in stabilising the naira to the dollar.

The bureaux de change operators were also warned against hoarding, as it amounted to an act of sabotage.

‘ With a further warning that any individual or group caught involved in such illegal and illicit financial transactions will be made to face the full wrath of the law, the statement stressed.

It will be recalled that, as soon as the news of the oil price crash was announced operators of currencies started hoarding dollar and making transactions difficult for end-users.

Central Bank of Nigeria (CBN) on Thursday night said it had enough foreign exchange reserves to maintain the current value of the naira. In a statement, the apex bank said it had set security agencies on the track of currency speculators who were causing panic in the market…



https://tribuneonlineng.com/oil-price-crash-efcc-raids-hamdala-hotel-bureaux-joints-in-kaduna/amp/

gouken2 is a fucking scammer beware