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EFCC operatives open fire at Abuja dollar market

The Economic and Financial Crimes Commission (EFCC) conducted a raid on the prominent Abuja Zone 4 market on Monday, resorting to gunfire to deter Bureau De Change operators and address the rapid decline of the naira, currently at N1,700 to the dollar.

Clad in red vests, EFCC operatives besieged the Zone 4 complex, using firearms to disperse BDC operators, highlighting the urgency of the President Bola Tinubu administration to employ all available measures to salvage the depreciating value of the naira.

Mr Tinubu’s strategy to float the naira has backfired and further depreciated its value on the global market, causing the prices of products to soar to more than 200 per cent.

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Nigerians, who can no longer bear the hardship, staged protests across several states, including Oyo, where residents labelled Mr Tinubu “a thief” with no clue how to run his administration and lift the people out of poverty.

It is unclear how exactly the raid on BDC operators would affect the naira’s value but the EFCC agents appear convinced they had the capacity to influence the currency’s worth.

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