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Foreigners operating illegal forex markets arrested

Security operatives from the Economic and Financial Crimes Commission (EFCC), police force and other agencies deployed by the National Security Adviser, have continued their raid…

Security operatives from the Economic and Financial Crimes Commission (EFCC), police force and other agencies deployed by the National Security Adviser, have continued their raid on some market places suspected to be the base of forex speculators.

The NSA, Nuhu Ribadu, had on Tuesday ordered operatives of the EFCC, police, the Nigeria Customs Service and the Nigeria Financial Intelligence Unit, to clamp down on forex market speculators whom he said are aiding current naira free fall.

Speaking to journalists in Abuja about the ongoing operations nationwide on Thursday, the spokesman of the EFCC, Dele Oyewale, disclosed that the joint task force comprising five teams arrested at least 115 currency racketeers.

Oyewale said the suspects consisting of 113 males and two females were arrested in a sting operation at Owerri Road, Ogui, Enugu State, following credible intelligence about how they were sabotaging the efforts of the apex bank.

The spokesman of the anti-graft agency disclosed that some of the arrested bureau de change operators, currency speculators and street hawkers are foreigners from the Republic of Niger operating illegal foreign exchange markets in that environment.

The teams, he said, recovered some items which include N110, 700,000.00; $8,368.00; £145.00, €2,725; 900 South African rands, 32,000.00 CFA, 100 Turkiya, and 500 Bank Mozambique currencies in different denominations.

“Preliminary investigation showed that some of the suspects are foreigners from Niger Republic. They would soon be charged to court,” Oyewale said.

 

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