The Office of the National Security Adviser (ONSA) and the Central Bank of Nigeria (CBN) have initiated a joint beat to tackle the illicit activities of foreign and local currency speculators.

The scheme, which will employ the services of some other security and law enforcement agencies like the Nigeria Police Force, the Economic and Financial Crimes Commission, and the Nigeria Financial Intelligence Unit, is aimed at identifying and punishing saboteurs of the nation’s foreign exchange market.

Disclosing the new joint move in a statement, the head of strategic Communication at the ONSA, ZAKARI MIJINYAWA, said the collaborative move will significantly, among other targets, enhance sustainable economic growth.

The statement noted that the new effort is inevitable as previous efforts by the EFCC, which had earlier put a 7,000-man special task force together, had not deterred the criminal activities of currency speculators and other saboteurs of the economy.

MIJINYAWA said that the news efforts will make progress in ensuring a stable and transparent foreign exchange market, fostering investor confidence, and advancing the nation’s economic well-being.