The Economic and Financial Crimes Commission (EFCC) has arrested 12 operators of Bureau de Change (BDC) during a raid on their offices at Sabo area in Ibadan North local government area on Wednesday.

Similar raids have been carried out in other states of the federation.

The operators, as reliably informed, were caught unaware as they allegedly put up resistance which resulted in the arrest of the 12 of their members.

It was also learnt that one of the operators hurriedly closed their offices in order to prevent further arrest.

Confirming the raid, the Chairman of the Bureau de Change Operators at Sabo, Aminu Ibrahim Babakande, expressed his members’ readiness to cooperate with the authorities.

This is just as he highlighted some of the challenges faced by the operators due to the fluctuating exchange rates between the naira and dollar.

He emphasized that the government holds the key to stabilising the exchange rate and alleviating the economic hardships faced by Bureau de Change operators.

“I don’t know the number of operators that were arrested. We are still investigating.

“We are ready to cooperate with the government. But the government should know that we are not the ones increasing the exchange rate between naira and dollar. The government knows what to do if they want to crash the exchange rate between naira and dollar.

“If the government wants the exchange rate to crash from over N1,000 to one dollar and to N300 to one dollar, the government knows what to do. This economic hardship is also affecting us too. We still have to buy food items in the market.

“If you come to Sabo now, dollars are very scarce. People don’t bring dollars the way they used to bring it, probably because they are expecting the exchange rate to be $USD1 to N2,000 or more,” he said.

Also, a senior security operative who preferred anonymity confirmed the development.

He said the EFCC operatives acted in accordance with the directives from the head office in Abuja.

“The EFCC operatives stormed the Sabo area early in the morning on Wednesday to enforce the order.

“Twelve Bureau de change operators were arrested during the raid and they have been handed over to the police.”

However, it could not be confirmed whether they are in the custody of the police or not as the Police Public Relations Officer, SP Adewale Osifeso, could not be reached for confirmation.

Meanwhile, normalcy has returned to the Sabo area a few hours after the raid as traders continue to carry out their businesses. (Nigerian Tribune)

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