EFCC, immigration chiefs meet over currency speculation scam

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EFCC Chairman Abdulrasheed Bawa and the Comptroller General of the Nigerian Immigration Service (NIS), Idris Jere, met on Thursday due to the currency crisis in the country.

Forex speculators have been blamed for contributing to the free fall in the value of the naira, which has plummeted in recent weeks.

Messrs Bawa and Jere held a “strategy” meeting on the issue behind closed doors at the NIS headquarters in Abuja on Thursday, according to a tweet from the EFCC.

“Forex Speculations:” Executive Chairman, EFCC, Abdulrasheed Bawa and Comptroller General, Nigerian Immigration Service, Idris Isah Jere, after a closed-door strategy session on Thursday, August 4, 2022 at NIS Headquarters, Abuja , on enhancing synergy in ongoing efforts to stop illegal forex speculation by foreign nationals. #TowardsABotterNigeria #SayNoToCorruption,” read the EFCC’s tweet.

Currency Speculation:

Executive Chairman, EFCC, Abdulrasheed Bawa and Comptroller General, Nigerian Immigration Service, Idris Isah Jere, after a closed-door strategy session on Thursday, August 4, 2022 at NIS Headquarters, Abuja,… pic.twitter.com/ZcOGs1qx9J

— EFCC Nigeria (@officialEFCC) August 4, 2022

Raid in the center of the exchange office

The meeting between Messrs. Bawa came about a week after EFCC officers raided the Bureau-De-Change (BDC) dealer center in the Wuse Zone 4 area of ​​Abuja last Friday in search of speculators. currency.

PREMIUM TIMES reported that the anti-corruption agency invaded the places occupied by the operators to arrest the currency speculators who are allegedly massively gobbling up the available foreign currencies.

Although it is unclear if any of the moneychangers were arrested, a source said the raid was the result of weeks of surveillance in which EFCC officers monitored the operators’ activities in the neighborhood.

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“The raid is the product of weeks of surveillance in which EFCC agents have been monitoring the activities of most of the Bureau of Exchange operators on the Wuse 4 axis,” the source said.

The anti-corruption agency is said to be working on the intelligence that some forces with a massive Naira income have mobilized resources and are busy buying available foreign currencies, especially the US dollar, to hoard.

The Central Bank of Nigeria (CBN) had declared and warned that “taking money from banks to buy dollars” is illegal.

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