By Ademola Adeleye
This is not the best time for Abuja residents who wish to change their dollars into naira as the currency traders also known as Bureau De Change (BDC) on Thursday suspended their services all over the federal capital.
Our correspondent who went around Wuse zone 4 and Sheraton Hotel area in Abuja said fierce looking officials of the Economic and Financial Crimes Commission (EFCC) have taken over the various spots previously used by the money changers.
It should be noted that this “ no sales policy” came barely 24 hours after the Central Bank of Nigeria (CBN) gave a marching order for banks to sell excess foreign exchange in their possession.
However, some of the traders who spoke to our correspondent said they suspended service because of the free fall of the naira against the dollar which fell to N1,530 on Tuesday.
InfactNG learnt the decision to suspend trading was given by Abdulahi Dauran, the chairman of the Association of Bureau De Change Abuja chapter, following the unfavourable exchange rate.
“There is no point selling when the exchange rate is unfavourable, we are trying to bring down the rate by this,” a trader said.