In a bid to stop the rapid decline of the naira, operatives of the Economic and Financial Crimes Commission (EFCC) stormed the offices of black market currency dealers in Abuja on Tuesday.

It was gathered that EFCC officers were seen in Musawa House along Constantine Street of Wuse Zone and arrested some of the Bureaux de Change (BDC) operators.

Naira dropped rapidly between Monday and Tuesday to more than 840 a week after the Governor of the Central Back of Nigeria, Godwin Emefiele, announced that the bank will replace higher notes to fight counterfeiting, inflation and insecurity.

President Muhammadu Buhari who backed the move said it will help fight corruption.

Newsmen at the Wuse Zone 4 area of Abuja where currency traders conduct their unauthorised deals, said armed operatives of the EFCC stormed the Sheraton Hotel area of Abuja, arresting Bureaux de Change (BDC) operators.

The anti-graft operatives were seen dragging a BDC operator into one of the waiting vehicles, while people surged towards the officials.

BDC operators who wanted to be anonymous for fear of arrest, said the dollar sold at N860 as of 1p.m on Tuesday.

“For now, there is no dollar to sell. This morning (Tuesday), a dollar was selling for N850, while I bought a dollar at N840,” the operator said.

The Naira currency crossed the 800 mark for the first time during the weekend and the decline has shown no sign of abating.

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