With the value of the naira dropping, the EFCC decided to form a Special Task Force across its commands. Their main aim was to crack down on individuals who were mutilating the Naira and contributing to the dollarization of the Nigerian economy. It’s a serious issue that needed immediate attention.
The EFCC spokesperson, Dele Oyewale, released a statement on February 7, 2024, explaining the purpose of this Special Task Force. They wanted to enforce the existing laws against currency mutilation and prevent further dollarization of the economy. The task force was established under the guidance of the Executive Chairman of the commission, Ola Olukoyede. Their primary goal was to protect the economy from any kind of abuses, leakages, or distortions that could potentially lead to instability and disruption.
One of the Bureau de Change operators, Dayyabu Mistila, confirmed the raid and subsequent arrests to the media. He mentioned that the operatives specifically cited the rising exchange rate of the dollar and other currencies against the naira as the reason behind the raid. It’s clear that the EFCC is determined to address this issue and ensure the stability of the Nigerian economy.
