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EFCC Raids Bureau de Change Operators In Ibadan, Arrests 12

Twelve operators of Bureau de Change (BDC) have been arrested by the Economic and Financial Crimes Commission (EFCC) during a raid on their offices at Sabo area of Ibadan on Wednesday.

According to report, the operators were caught unaware as they allegedly put up resistance which resulted in the arrest of the 12 of their members.

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

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

He highlighted some of the challenges faced by the operators to include fluctuating exchange rates between the naira and dollar.

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

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“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 $1 USD to N2,000 or more.”

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

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