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We have identified persons, organizations hoarding dollars – EFCC chairman, Bawa

Efcc BDC

Chairman of the  Economic and Financial Crimes Commission (EFCC) Abdulrasheed Bawa. on Friday announced that the commission has identified individuals and bodies responsible for the fall of the Naira.

The chairman made this announcement when the commission met with Bureau de Change (BDC) operators in the Federal Capital Territory, where he called a meeting to fashion out ways to collaborate with various stakeholders.

Bawa condemned the “brazen foreign exchange speculation especially at the parallel market”.

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The anti-graft chief said: It is hurting the country’s monetary policy by instigating a run on the value of the naira.

Bawa disclosed that the commission has intelligence linking persons and organizations to the hoarding of foreign currencies, especially U.S. dollars.

He identified Kano, Lagos, Port Harcourt, Enugu and Calabar as states under watch, disclosing that a major offensive against the speculators is under way.

Responding, the operators expressed optimism that the naira may eventually return to its pre-speculation value with EFCC intervention.

Similar meetings will be held with other BDC dealers, regulators, financial sector players and other stakeholders.