Kelvin Bowoto
A security operation led by the Economic and Financial Crimes Commission (EFCC) in Kano raided the popular foreign exchange market at WAPA, Fagge, Kano.
At least seven people were arrested during the lengthy operation that took place on Wednesday afternoon.
While verifying the operation, Sani Wada, chairman of the forex market, maintained that they do not stockpile dollars in the market and that over two hundred people working there are licensed by the government.
“It was a joint taskforce that scoured the market in search of people hoarding dollars, causing the naira’s value to fall.
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“They have detained no fewer than seven people; some of them are outlaws and others are simply passersby. They stated they would filter them to make sure who was who. We have yet to meet the task force.
“All of them were arrested randomly, and none of them was arrested carrying even a dollar on him.” The WAPA Forex Market is licensed, and there are over 200 licensed individual firms operating in the market. All of our operations comply with the law.
“When they struck, they hindered activities in the market as people closed down their offices; however, things have since returned to normal.”
Techrectory with Agency Report.
