EFCC arrests 34 for forex fraud in Abuja

The operatives of the Economic and Financial Crimes Commission (EFCC) have arrested 34 suspected currency speculators for alleged foreign exchange fraud.

The suspected currency speculators were arrested by the EFCC operatives attached to the taskforce on currency mutilation, dollarisation of the economy and forex malpractice on Friday, April 26, 2024.

The EFCC noted that the suspects were arrested in a sting operation following credible intelligence about illegal sales of dollars at the Wuse Zone 4 area of Abuja.

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The suspects are Usman Mohammed, Abdullahi Nasir, Abubakar Saleh, Mohammed Kabir Ibrahim, Abubakar Ghadafi, Muktar Usman, Umar Abubakar Abba, Yakubu Sani, Aminu Abubakar, Muhammed Suleman Abara, Yusuf Tahir, Usman Lawal, Usman Lawal, Usman Umar, and Amina Garba Rola.

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Others include Muhammed Aliyu, Murtala Haruna, Sani Mohammed, Umar Farouk, Muhammed Sagiuru, Aminu Salisu, Lawal Bello, Munzali Hashim, Jamilu Suleiman, Mustapha Umar, Mubarak Tanimu, Adamu Garba, Mohammed Usman, Bello Musa, Saleh Mohammed Naseer, Zaharadeen Yau, Musa Umaru Adamu, Usman Machido, and Abdulaziz Abubakar Abba.

Their arrest came on the heels of the EFCC’s efforts to sanitise and stabilise the foreign exchange market.

The anti-graft agency added that the suspected currency speculators will be arraigned in court upon the conclusion of investigations.

The Star