My Achievement As EFCC Chairman Is Increasing Naira Value Against Dollar

Falling Naira: EFCC Threatens To Arrest Dollar Hoarders
Abdulrasheed Bawa

The Economic and Financial Crimes Commission (EFCC) chairman, Abdulrasheed Bawa, has patted himself on the back, claiming he helped to improve the value of the naira against the dollar.

“One achievement which most of you may not easily recognise is the impact which EFCC’s intervention in the forex market has had on the value of the naira,” Mr Bawa said at a workshop organised for journalists held at the anti-graft commission’s headquarters in Abuja, on Wednesday.

On July 29, Peoples Gazette reported how the EFCC raided Abuja bureau de change operators, claiming it was a bid to save the naira, which traded for N710 against the dollar in the black market then.

“From well over N710 to the dollar, following the commission’s intervention, the naira has appreciated significantly against the dollar in the parallel market,” Mr Bawa claimed. “And we are not relenting in our efforts to check harmful speculative activities in the sector.”

Governor of the Central Bank of Nigeria, Godwin Emefiele, blamed BDC operators and speculators for the downward trend of the national currency.

To further restrict forex flow at the parallel market, the CBN threatened to arrest and prosecute Nigerians using naira to buy dollars.

Speaking further at the workshop, Mr Bawa said, “Without doubt, the media’s ability to inform and sensitize the people on the ills of corruption and economic crime is crucial for us.”

According to the EFCC chairman, at the end of 2021, the anti-graft agency recorded 2,220 convictions.

“I am pleased to inform you that we are poised to improve on that figure as the record of convictions as of August 5, 2022, was 2,210,” Mr Bawa stressed.