In a move to reduce the pressure on the naira, the Economic and Financial Crimes Commission has raised a 7,000-man special task force across its 14 zonal commands to clamp down on dollar racketeers. Cardoso argued that the foreign exchange market was facing increased demand pressures, causing a continuous decline in the value of the naira. Meanwhile, The PUNCH findings show the EFCC special task force is operating in all its 14 commands with over 7,000 operatives or about 500 operatives in each command. He stated, “The Special Task Force is operating in all our 14 commands, and we have about 500 operatives in each command’s task force; that equals over 7,000 operatives overall. “It is illegal to ask for payment of whatever sort in foreign currency here in Nigeria.

Source: Punch February 08, 2024 13:56 UTC