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Nigerian security operatives including officials of the Economic and Financial Crimes Commission (EFCC) on Wednesday raided some Bureau De Change outlets in the Federal Capital Territory, Abuja, arresting over 100 operators as the country’s currency slipped further. Nigeria's naira on Wednesday dropped to a record low against the dollar on the official market. SaharaReporters learnt that the naira now exchanged for N1980 to $1 on the parallel market and N1780 on the official market as the swift decline continued amid the government’s clampdown on currency speculators.

For the second time this week, the Naira appreciated significantly against the US Dollar on Wednesday at the foreign exchange market. Data from FMDQ

Some Nigerian security operatives on Wednesday went after the Bureau De Change operators in the Sabo area of Ibadan. Sabo in Ibadan, the Oyo State capital in Southwest Nigeria, is the hub of bureaux de change in the state.   The operatives include officials of police and Economic and Financial Crimes Commission personnel.  A video posted by Oyo Affairs on its X handle, on Wednesday, shows tens of armed security personnel and their convoy of vehicles slowly moving on the popular Sabo Road in Ibadan.

Here is New Telegraph’s news roundup of the top 15 latest Nigerian news making headlines today Tuesday, February 20 2024.

The EFCC raided some BDC operators’ outlets in Abuja on Monday, arresting currency traders suspected to be speculating against the naira.