The Economic and Financial Crimes Commission, EFCC, on Tuesday, raided some black market forex offices in Abuja.
This action is coming at a time when the Central Bank of Nigeria said it will replace some currencies with higher notes to fight counterfeiting, inflation and insecurity.
The Naira plunged rapidly between Monday and Tuesday to more than 840 to the United States dollar in Abuja as result of the CBN decision.
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Operatives of the EFCC raided the offices of black market currency dealers in an effort to slow down the rapid fall of the naira.
Some traders who spoke to PREMIUM TIMES, at the Wuse Zone 4, Abuja, said they were buying a dollar for as high as 840, implying they would sell more.
According to the report, EFCC officials stormed the Sheraton Hotel area of Abuja, arresting bureaux de change (BDC) operators.
Two white buses were reportedly parked in front of the Musawa House along Constantine Street of Wuse Zone 4.
The anti-graft operatives were reportedly seen dragging a BDC operator into one of the waiting vehicles while people surged towards the officials.
Other EFCC officials stood at an intersection between Sheraton Hotel and Constantine Street adjacent to Abacha Estate in Wuse, causing gridlock for oncoming vehicles.
It was also reported that a BDC operator who did not want to be named for fear of arrest, said the dollar is sold at N860 as of 1p.m on Tuesday.
“For now, there is no dollar to sell. This morning (Tuesday), a dollar was selling for N850, while I bought a dollar at N840,” the operator said.
“As of 1.53p.m, the USD was selling between N870 and N900 depending on sellers and buyers bargaining power,” another BDC operator told PREMIUM TIMES.