Akinwande Soji-Ojo
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested 34 suspected currency speculators for foreign exchange (FX) fraud.
In a statement posted on its website, EFCC said the arrest was carried out by its operatives attached to its task force on currency mutilation, dollarisation of the economy and FX malpractice.
The anti-graft agency said the suspects were arrested in Wuse Zone 4, Abuja, on April 26, in a sting operation following credible intelligence about illegal sales of dollars.
“Operatives of the Economic and Financial Crimes Commission, EFCC, attached to the Taskforce on Currency mutilation, Dollarization of the Economy and Forex Malpractice, have arrested 34 suspected currency speculators for alleged foreign exchange fraud.
“The suspects are: Usman Mohammed, Abdullahi Nasir, Abubakar Saleh, Mohammed Kabir Ibrahim, Abubakar Ghadafi, Muktar Usman, Umar Abubakar Abba, Yakubu Sani, Aminu Abubakar, Muhammed Suleman Abara, Yusuf Tahir, Usman Lawal, Usman Lawal,” it said.
The anti-graft agency also arrested Usman Umar, Amina Garba Rola, Muhammed Aliyu, Murtala Haruna, Sani Mohammed, Umar Farouk, Muhammed Sagiuru, Aminu Salisu, Lawal Bello, and Munzali Hashim.
Others are Jamilu Suleiman, Mustapha Umar, Mubarak Tanimu, Adamu Garba, Mohammed Usman, Bello Musa, Saleh Mohammed Naseer, Zaharadeen Yau, Musa Umaru Adamu, Usman Machido, and Abdulaziz Abubakar Abba.
The EFCC said the arrest occurred following its ongoing efforts to clean up and stabilise the FX market, adding that the suspects would be arraigned in court upon conclusion of investigations.
The Central Bank of Nigeria (CBN) and the Office of the National Security Adviser (ONSA) had on February 24, announced a partnership to investigate and penalise those involved in illicit activities within the foreign exchange market.
The decision was on the backdrop of the unending depreciation of the naira and its accompanying negative impact on inflation and economic instability.
Following the partnership, which also involved the EFCC, the commission froze over 300 accounts linked to illicit FX trading.
The EFCC also launched a probe on 52 companies over forex infractions.