- Despite this, Wada, maintaining that market members operate with licenses, asserted that hoarding is not practiced within the market
On Wednesday in Kano state, Economic and Financial Crimes Commission (EFCC) operatives arrested not less than seven Bureau De Change operators and others during a raid at the well-known WAPA market in Fagge local government area.
Malam Sani, the market’s Chairman, confirmed the development, stating that the raid aimed to uncover hoarders of dollars.
Despite this, Wada, maintaining that market members operate with licenses, asserted that hoarding is not practiced within the market.
“It was a joint taskforce that raided the market in search of those who are hoarding dollars and causing the depreciation of in the value of Naira.
“They have arrested no fewer than seven individuals, some of them are our members and others are only passerbys. They said they are going to screen them to confirm who is who. We are yet to meet the taskforce now.
“All of them were arrested randomly and non of them was arrested carrying even a dollar on him.
“The WAPA Forex Market is licenced and there are no fewer than two hundred licenced individual outfits here in the market. All our operations are operating within the ambit of the law.
“When they struck, they hindered activities in the market as people closed down there offices, however things have since returned to normal.
“I advised the authority to implore the whistleblower tactic to track down those who have Dollars hoarded. But there is no Dollar anywhere in the market at the moment. Nobody has it. Even if you see it, it will not be more that $100 or $200 that’s all. We don’t have Dollars.
“Therefore, I think if they want to clampdown on those with Dollars the whistleblower tactic will help them better,” the Chairman, Sani however stated.