Some unregistered Bureau De Change Operators were arrested by Operatives of the Department of State Security on Thursday in Lagos and Abuja.
Also raided by the DSS operatives were registered BDCs operators who were accused of selling the dollar above N400.
The development, forex dealers said, forced some of the BDC operators to seek means of selling foreign currencies in their possession, especially dollars, pounds and euros at stipulated rates.
A licensed BDC operator in Abuja, Alhaji Yusuf Rabiu, told the News Agency of Nigeria that the raid on the registered operators made some of them to reach an agreement on how much the various foreign currencies should be sold for.
On Wednesday, the DSS had raided the offices of some BDC in Lagos and Abuja, arresting operators selling above the stipulated exchange rate.
The DSS operatives posed as end-users who came to purchase dollars from the BDCs. After surveying the market for exchange rate offerings, they arrested some BDC operators who sold above the Central Bank of Nigeria’s stipulated rates.
Rabiu said, “On Monday, the EFCC called so many licensed BDC operators. The issue is that they feel we are unnecessarily hiking the rates. But it’s not our fault.
“Right now, their focus is on our business; they have been calling us one by one and we don’t want problems. That is why we have agreed to have a fixed rate for now. After the raid in Lagos, the Abuja operators met and agreed on a fixed rate.”
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