Yesterday, operatives from the Economic and Financial Crimes Commission (EFCC) sent shockwaves through the Ibadan foreign exchange scene. In a surprise raid targeting the Sabo area, known for its concentration of Bureau de Change (BDC) operators, at least 12 individuals were apprehended.
While the exact reason for the raid remains unclear, sources report the arrests took place between 10:00 AM and 11:00 AM. The detained individuals operated BDCs within the Sabo community, predominantly populated by Northerners.
Alhaji Aminu Ibrahim Babankande, Chairman of the Bureau de Change operators in Oyo State, confirmed the incident but couldn’t provide a specific number of arrests. “We are still investigating,” he stated, emphasizing their “readiness to cooperate with the government.”
This raid has sparked a flurry of questions and concerns. What prompted the EFCC’s intervention? Were there any specific allegations against the apprehended individuals or BDCs? Will this action affect the broader foreign exchange market in Ibadan?
The EFCC has yet to issue an official statement regarding the raid’s purpose or the specific charges against those arrested. However, their actions highlight the ongoing scrutiny of the BDC sector, particularly in light of recent fluctuations in the Naira’s value.
This news is likely to resonate with Nigerians across the country, particularly those involved in foreign exchange transactions. As the investigation unfolds, stay tuned for further updates on the developments surrounding this raid and its potential implications for the BDC industry.
