● Customers not exempted
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.
The activities of the parallel market operators are always heavy around the hotel (former Sheraton Hotel), although Bureau De Change offices are scattered on the right flank, a stone’s throw away from the hotel.
THE CONCLAVE reports that security operatives stormed the market on Wednesday and Thursday in a sustained raid that resulted in the arrest of about 100 operators on Wednesday and about 70 others on Thursday.
The entire area was deserted with armed policemen standing sentry.
This reporter was sternly warned not to park his car anywhere close to the spot, which was hitherto a beehive of activity
One of the forex parrallel market operators who spoke with our correspondent from hiding confirmed the raids.
He said they were accused of being responsible for the skyro keting exchange rate of dollar to naira.
Accordong to him, both our customers and our members were arrested in the raids.
As of Thursday, exhange rate was $1 to N1900 at the parallel market.
Stay ahead with the latest updates! Join The ConclaveNG on WhatsApp and Telegram for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
