BDC operators were arrested as Nigerian naira sold for $1,416/$.

In addition, traders reported that during a sting operation, some BDC operators resisted being arrested.

In order to rid the market of arbitrary trading and sanitize it of street vendors, the operatives had started conducting routine raids.

However, on Tuesday, the operation faced resistance, which resulted in gunfire and damage to their cars, as confirmed by two currency merchants who saw the events 

One of the traders, who wished to remain anonymous for fear of reprisals, claimed that the traders had only acted to extract money from them and were frustrated by how frequently they were being arrested.

He said, “EFCC guys came to raid and make an arrest on Monday and they came today (Tuesday) but today’s operation was too strong.

“This is the issue we are facing. Yesterday (Monday) they arrested traders but they were attacked back today and gunshots were fired because our people tried to resist the arrest. They were provoked and frustrated. They even broke the glasses of the EFCC vehicles today and that means people are getting tired and desperate.”

An further trader who attested to the incident cautioned that more raids by the anti-corruption organization could result in fatalities.

The trader, who also requested to remain anonymous, stated, "If this goes on like this, they would kill people because the next time they tried to arrest someone, no one would consent and someone else would assemble so that nobody would be arrested.

"That occurred today. People are now turning because, following an arrest, their only activity is to demand money from us. Nothing more is carried out.  They make things difficult for us.

With the goal of stabilizing the naira, the EFCC has started raiding again.
For alleged foreign exchange fraud, the commission detained around 35 suspected currency speculators in the penultimate week.
It also paraded more than 20 BDC operators who had been detained in the capital city last week.
Notwithstanding these initiatives, the naira's free decline has persisted.
According to the rates, the operators made a profit margin of N25 since they bought the dollar at N1,400 and sold it for N1,425 each.

A N5 decrease from the N1,430 it sold on Monday was also highlighted.

Malam Yahu, a trader, expressed dissatisfaction with the market's volatility and added that it was now challenging to predict the rates at which they would trade.