The Economic and Financial Crimes Commission (EFCC) has confirmed the arrest of 34 suspected currency speculators in Abuja.

The commission in a statement said its operatives attached to the task force on currency mutilation, dollarization of the economy and forex malpractice, arrested the 34 suspects for alleged foreign exchange fraud.

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“They were arrested on Friday, April 26 in a sting operation following credible intelligence about illegal sales of dollars at the Wuse Zone 4 area of Abuja,” it said.

It said their arrest came on the heels of its consistent efforts to sanitise and stabilise the foreign exchange market.

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The commission said the 34 suspects will soon be arraigned in court upon the conclusion of investigations.