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HURIWA lauds EFCC over foreign currency seizures at airports

By Joseph Onyekwere (Lagos) and Ernest Nzor (Abuja)
17 November 2022   |   4:53 am
Human Rights Writers Association of Nigeria (HURIWA) has commended the Economic and Financial Crimes Commission (EFCC) for clipping the wings of economic saboteurs destroying the value of the naira through currency speculation.

EFCC. Photo/TWITTER/OFFICIALEFCC

Human Rights Writers Association of Nigeria (HURIWA) has commended the Economic and Financial Crimes Commission (EFCC) for clipping the wings of economic saboteurs destroying the value of the naira through currency speculation. 

  
In a statement by its National Coordinator, Comrade Emmanuel Onwubiko, the group also encouraged the anti-graft agency to hasten the investigation of the Niger Delta Development Commission (NDDC), just as it warned against capitulation to blackmail of some powerful forces within the National Assembly, who want to undermine the financial reforms of the “ethically decadent NDDC, which is why the oil-producing communities are criminally underdeveloped due to political theft of the funds appropriated and released for strategic infrastructural projects in these communities.” 
  
Director of Operations of EFCC, Abdulkarim Chukkol, who made the revelation on the Good Morning Nigeria programme of the Nigerian Television Authority (NTA), affirmed that money laundering was the reason some Bureau De Change (BDC) operators were recently arrested in Lagos and Abuja.

He said: “Many arrests of cash smugglers have been made and humongous sums in foreign currencies recovered. Some were arrested with an excess of $6 million, others with $2 million. We know these huge sums were not meant to be used in buying goods but stolen money being laundered. The EFCC secured the forfeiture of the money to the Federal Government and prosecuted the culprits.”
 
When contacted, the Head, Media and Publicity of the EFCC, Wilson Uwujaren, said the recent arrests were to sanitise the foreign exchange sector.
  
According to him, the agency’s arrest of BDC operators and currency speculators in the parallel market was not indiscriminate, but a product of intelligence.

Corroborating Chukkol, Uwujaren stressed that the Commission considered foreign exchange malpractice as an economic crime against the Nigerian state.

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