The Economic and Financial Crimes Commission has been frightened to arrest Nigerians storing dollars and other foreign currency.
Chairman of the anti-graft agency, Abdulrasheed Bawa, made this known on Friday while meeting representatives of Bureau De Change operators in the Federal Capital Territory, Abuja.
Bawa instructed those involved to desist or risk arrest as a major offensive against the speculators was underway, adding that the EFCC had intelligence linking some persons and organizations to the hoarding of foreign currencies especially the United States dollars in commercial cities across the country.
He said, “The commission has intelligence linking some persons and organizations to the hoarding of foreign currencies especially the United States dollars in key commercial cities of Kano, Lagos, Port Harcourt, Enugu, and Calabar.
“We, however, warn those involved to desist or risk arrest as a major offensive against the speculators is underway.”
The EFCC had intervened by invading some Forex markets in Abuja, which saw the currency return to its pre-speculated value.
Bawa noted that the meeting was called to fashion out a collaborative stakeholders’ response to brazen foreign exchange speculation, especially at the parallel market which was harming the country’s monetary policy by provoking a decline in the value of the naira.
The anti-graft agency noted that similar meetings are planned for other Bureau de Change operators in other major commercial cities across the country including key players, regulators, and operators within the Nigerian financial sector.