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DSS Raids FOREX Markets in Onitsha and Awka

NAN

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DSS Attack - Bella NaijaThe Department of State Service (DSS) in Anambra on Friday raided some markets in Awka and Onitsha in search of illegal foreign currency hawkers.

A trade at the Eke Market in Awka, who spoke under the condition of anonymity told the News Agency of Nigeria (NAN) , that some hawkers of foreign currencies were arrested.

He said that the DSS operatives also carted away huge sums of foreign currencies seized from the hawkers.

“We scampered for our lives when we saw them inside the market in the early hours of the day because no one knew their mission initially. They took over the market until later when we were able to find out their mission,’’ he said.

A senior official of the DSS, who confirmed the raid to NAN under condition of anonymity, said that they acted on directive.

He said that the exercise also took place in Onitsha, while other major markets in the state would also be raided.

“We are worried that some commercial banks’ officials were conniving with the hawkers in the markets to destabilise the government’s efforts to make the sale of foreign currencies cheaper. The economy is seriously affected by the actions of the illegal hawkers of foreign currencies. Our objective is to bring sanity in the system and let Nigerians procure the foreign currencies at government regulation,’’ he said.

He urged them to go and secure licence to legalise their business operations.

NAN

The News Agency of Nigeria (NAN) was established by the Federal Government of Nigeria in May 1976 to gather and distribute news on Nigeria and cover events of interest to Nigeria at the international level for the benefit of the Nigerian Media and the Public.

8 Comments

  1. I no send

    November 18, 2016 at 8:38 pm

    Those DSS are thieves,using style to rob people.

  2. Iris

    November 18, 2016 at 9:13 pm

    Want to bet they kept a chunk of it?

  3. Mr. Egghead

    November 18, 2016 at 9:55 pm

    Classic Buhari

    Always force, never sense

  4. The Real Oma

    November 18, 2016 at 10:25 pm

    The fact is there is an unprecedented scarcity of forex in the county. What Buhari’s government has to do is come up with policies to deal with it, not use force. These guys are in business because of the gaps left by the current ineffective and inadequate policies. FREE THE NAIRA, stop trying to save it, let its true value be determined by market forces, only then can investors return and only then can we begin to recover. If this government had listened and done this early last year, we would have been on the road to full recovery by now.
    As long as this government continues to ‘defend’ the naira, continues to determine what it should be exchanging at, we will keep having black market 1, 2, and 3… and these raids will solve nothing as people will find away around it – its all tied to demand and supply, shikena

    • AfroSimz

      November 18, 2016 at 11:25 pm

      You’re wrong. Maybe you were right in January 2016. Right now the naira is the 3rd UNDERvalued currency in the world, according to economists. Devaluing will make things worse, if you can imagine that. Inflation will be even higher, banks will just collapse and pass on what they can to customers, and trade will be even more crippled than it is now, if such a thing was imaginable.

      At this point, the solution is to FREE THE COUNTRY. Foreign investors are not blind — they read the history books that you Nigerians crying for CHANGE refused to read. They know that Buhari is a suppressor, full of bad surprises. And that until 2019, when hopefully Nigerians have bought themselves some sense, Nigeria is a no-go zone for their dollar. So we all need to just park well. I wish I could say we have already seen the worst. It is to be praying and fasting now, unfortunately.

    • tunmi

      November 19, 2016 at 1:10 am

      Thank you!!! I don’t think these guys understand the concept of a free market. You can’t force it. Let the naira do what it will do.

  5. tunmi

    November 19, 2016 at 5:28 am

    But wait oh, who does the DSS answer to? Are they like the FBI who are independent of the presidential control in the US? I’m asking because I truly do not know.

  6. nnenne

    November 19, 2016 at 11:35 am

    Again that’s Buhari system of governance!
    He uses force to try to bring down market prices Go back in history, he has done it before!
    Rustic and backward!
    Whatever happened to policies systems and practices!!!!

    BTW, where are all the Nigerians that were complaining around this time in 2014?
    So things are super okay in Nigeria now??

    May God punish TRIBALISM!

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