According to GIOTV, the Federal Capital Territory’s majority of bureau de change businesses are located in Wuse Zone 4, Abuja.
According to a source, the raid was a clandestine operation to chase away currency speculators who are allegedly massacring available foreign money.
The raid is thought to have been the result of weeks of surveillance in which EFCC operatives watched the actions of the majority of the Bureau de change operators in the Wuse 4 axis.The anti- graft agency is said to be working on intelligence that some forces with massive naira inflow have mobilized resources and are busy buying up available foreign currencies especially the United States dollar, to either hoard or smuggle the same out of Nigeria.
Some operatives of the Commission have also been spotted at major airports in the country, in what a source said is a coordinated nationwide operation that will be extended to all the major commercial cities such as Kano, Lagos and Port Harcourt.
There has lately been a run on the value of the Naira with the currency exchanging for over N700 to a dollar.