In a shocking turn of events, the Economic and Financial Crimes Commission (EFCC) launched a raid at Abuja's Zone 4 market, targeting Bureau De Change (BDC) operators as the Nigerian Naira faces a rapid decline to N1,700 against the dollar.
Clad in their red vests, EFCC operatives used firearms to disperse BDC operators, reflecting the government's urgency to rescue the sinking currency. President Bola Tinubu's strategy to float the naira has worsened its value, leading to soaring product prices and nationwide protests.
While the raid's impact on the naira remains uncertain, EFCC agents believe it could influence the currency's value. This event echoes a past incident where the central bank falsely accused a platform of manipulating the naira's value.
As the crisis deepens, questions arise about the effectiveness of such interventions in stabilizing the Nigerian economy.
