Falling Naira: EFCC Threatens To Arrest Nigerian Hoarding Dollars

Falling Naira: EFCC Threatens To Arrest Dollar Hoarders
Abdulrasheed Bawa

The Economic and Financial Crimes Commission (EFCC) has threatened to arrest Nigerians hoarding dollars and other foreign currency.

Chairman of the anti-graft agency, Abdulrasheed Bawa, gave this warning on Friday while meeting representatives of Bureau De Change operators in the Federal Capital Territory, Abuja.

The meeting was sequel to the anti-graft agency’s ongoing efforts to check the rising cases of foreign exchange speculations, which had brought pressure on the value of the naira.

Bawa warned those involved to desist or risk arrest as a major offensive against the speculators was underway.

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He added that the EFCC had intelligence linking some persons and organisations to the hoarding of foreign currencies especially the United States dollars in commercial cities across the country.

He said, “The commission has intelligence linking some persons and organisations to the hoarding of foreign currencies especially the United States dollars in key commercial cities of Kano, Lagos, Port Harcourt, Enugu and Calabar.

“We, however, warn those involved to desist or risk arrest as a major offensive against the speculators is under way.”

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