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EFCC threatens to arrest foreign currency hoarders

Adesola Sulaimon

Chairman of the Economic and Financial Crimes Commission (EFCC) ,Abdulrasheeed Bawa has warned Nigerians against hoarding foreign currencies, especially Dollars.

Bala issued the warning in a statement on Friday after a meeting with representatives of the Bureau De Change operators in the Federal Capital Territory, Abuja.

The meeting with the BDC operators was part of efforts by the agency to look into reasons behind the rising foreign exchange rate which has caused drastic devaluation of the naira.


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The EFCC chairman further gave strict warnings to individuals involved to desist from the act or risk being arrested by the agency.

He said “The commission has intelligence linking some persons and organisations to the hoarding of foreign currencies especially the United States dollars in key commercial cities of Kano, Port Harcourt, Enugu and Calabar.”

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