Recently, the Economic and Financial Crimes Commission (EFCC) arrested 34 individuals suspected of engaging in foreign exchange fraud, specifically currency speculation. These arrests were made by EFCC personnel who are part of the Taskforce on Currency Mutilation, Dollarization of the Economy, and Forex Malpractice.
The operation took place on Friday following credible intelligence regarding the illegal trading of dollars in the Wuse Zone 4 area of the Federal Capital Territory Abuja, as confirmed by EFCC spokesperson, Dele Oyewale.
The suspects, including individuals such as Usman Mohammed, Abdullahi Nasir, Abubakar Saleh, and others, are currently in custody. They will soon face legal proceedings as investigations into their activities continue.
These arrests reflect EFCC’s ongoing efforts to cleanse and stabilize the foreign exchange market, ensuring transparency and combating financial crimes effectively.