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.

BeeBeeOoh:


https://dailypost.ng/2022/08/05/naira-fall-efcc-has-identified-persons-organizations-hoarding-dollars-bawa/

Abitolola:
On the contrary, hoarding dollars should bring dollar down.

Compasion:
Arrest them

obaaderemi:
No. If you hoard dollars then only a little supply of dollars will be available, with a lot of naira chasing after the scarce dollars. In that case dollars become expensive while naira falls.

It's demand and supply.

obaaderemi:
No. If you hoard dollars then only a little supply of dollars will be available, with a lot of naira chasing after the scarce dollars. In that case dollars become expensive while naira falls.

It's demand and supply.

The Economic and Financial Crimes Commission (EFCC) on Friday announced that individuals and bodies were causing Naira fall.

Ochemicals:



See them. People without sense. People with low IQ running this country. Why would the country grow?
People that should be selling suya and hawking onions are the ones running this country while the educated and visionary youths in the south are jobless.
These southern youths are excelling in music, arts l, business etc. If they have access to governance, Nigeria would change

Abitolola:
On the contrary, hoarding dollars should bring dollar down.

BeeBeeOoh:


https://dailypost.ng/2022/08/05/naira-fall-efcc-has-identified-persons-organizations-hoarding-dollars-bawa/

Kenneth4u205:
Nobody is hoarding dollars. The truth is Fulani -hausa are good in winning politics. But the don't know how to manage economy which only Igbos knows how to do best . A wise Fulani-hausa should sorround himself with Igbo economic finance team . But Buhari went and appoint his fellow Fulani to economic sector because of his tribalism. Now his government is really messed up . Ruining Tinubu chance completely

Artiiclebeast:
Foolish boy.

And Abuja, the den of the lions and hyenas aren't among the useless list he reeled out.

Search the miscreant pockets now you must see some dollar bills.

The thieves controlling the country have all stashed their lots away in Dollars and are usually the happiest as the Naira becomes even more useless such that whenever they change a few of the dollars they have stashed away there'd be enough naira to share amongst their hungry supporters and continue to hold them in perpetual servitude.

If dem release Tinubu and Atiku Dollars alone our foreign reserve go smile.