On Tuesday, members of the Economic and Financial Crimes Commission (EFCC) swarmed locations in Abuja where dealers, or operators of Bureau de Changes, deal in foreign currencies against the naira.
The raid occurred as the value of the naira versus the US dollar continued to fall, reaching a high of N850 to $1.
While confirming the raid to Channels Television, the EFCC withheld information.
As part of steps to tighten monetary policy, the Central Bank of Nigeria (CBN) announced last week that the naira would be redesigned.
The naira’s makeover, according to the measure’s opponents, would increase demand for dollars.
