Operatives of the Economic and Financial Crimes Commission, EFCC, and the Nigeria Police Force stormed the foreign exchange black market around the Abuja Continental Hotel in Wuse Zone 4, to effect a comprehensive raid of forex speculators.
Parallel market operators are always active around the hotel , former Sheraton Hotel, though Bureau De Change offices can be found on the right flank, just a stone’s throw away.
Credible News reports that security personnel stormed the market on Wednesday and Thursday in a sustained raid that resulted in the arrest of approximately 100 operators on Wednesday and 70 others on Thursday.
The entire area was deserted, with armed police officers standing sentry.
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One of the forex parallel market operators who spoke with news men while hiding confirmed the raids.
He stated that they were accused of being responsible for the skyrocketing dollar-to-naira exchange rate.
Both our customers and members were arrested during the raids, according to him.
On Thursday, the exchange rate at the parallel market was $1 to N1900.
Credible news.ng
