EFCC Arrests Alleged Currency Speculator

AbujaEconomic and Financial Crimes Commission (EFCC) has arrested one Mustapha Muhammed alias Muaspaha Naira for alleged currency speculation.

EFCC spokesperson, Mr Wilson Uwujaren, said this was part of the ongoing operation to sanitise the foreign exchange sector and rid it of speculators and all shades of economic saboteurs.

He was picked up by operatives of the commission last Saturday at Wuse Zone 4, the hub of parallel market operations in the Federal Capital Territory (FCT).

The suspect has reportedly made useful statements while the investigation continues.

Meanwhile, the EFCC has said the recent arrest of some Bureau De Change (BDC) operators across the country, especially in Lagos and Abuja, was incidental to the commission’s overall efforts at sanitising the foreign exchange sector.

The commission’s director of operations, Abdulkarim Chukkol, stated this while fielding questions on “Good Morning Nigeria”, a breakfast programme on the Network Service of the Nigeria Television Authority (NTA).

According to him, EFCC’s arrest of BDC operators and currency speculators in the parallel market was not indiscriminate but a product of intelligence.