Forex trader is detained by the EFCC in Abuja

Mustapha Muhammed, commonly known as Mustapha Naira, was detained by the Economic and Financial Crimes Commission (EFCC) in Abuja. He is accused of engaging in currency speculation.

The statement was issued by the EFCC on Wednesday along with the publication of a photograph of the suspect.

According to the commission, the arrest was made as part of its aim to clean up the foreign currency market.

The Federal Capital Territory of Abuja’s Wuseneighborhood is where the arrest was reportedly made on Saturday.

“The EFCC has arrested one Mustapha Muhammed alias Mustapha Naira,” it tweeted, as part of its continuing campaign to purge the foreign exchange industry of speculators and all other types of economic saboteurs.

On Saturday, November 12, 2022, “he was hauled up by agents of the commission in Wuse Zone 4, the center of parallel market operations in the Federal Capital Territory.”

The suspect has provided helpful information while the inquiry is ongoing.