Nigerian security operatives, including police and Economic and Financial Crimes Commission (EFCC) personnel, today February 21 raided some Bureau De Change (BDC) outlets in the Sabo area in Ibadan, Oyo state.

Sabo, a prominent district in Ibadan, the capital of Oyo State, serves as a central hub for currency exchange activities in the region.

Videos circulated on social media showed the dramatic scene as armed security personnel and their convoy moved around the bustling Sabo road.

The raid comes amidst growing concerns over the depreciation of the Nigerian naira, which hit record lows against major foreign currencies, including the dollar.