The Economic and Financial Crimes Commission (EFCC) has issued a stern warning to establishments such as schools, supermarkets, hotels, and others, cautioning against the practice of charging for services in dollars or any foreign currency within the country.
Ola Olukoyede, EFCC’s Chairman made the announcement on Monday, in the latest edition of the commission’s monthly e-magazine, EFCC Alert.
Olukoyede threatened to prosecute anyone found engaging in dollarization of the economy. He emphasized that such actions would be treated as criminal offenses in accordance with Nigerian laws.
He emphasized the EFCC’s commitment to eradicating illegal forex trading and ensuring that currency traders operate within the bounds of the law, complementing the efforts of the Central Bank of Nigeria in this regard.
Furthermore, Olukoyede condemned the celebration of criminals by some Nigerians, emphasizing the detrimental impact of corruption on society. He urged Nigerians to support the EFCC’s anti-corruption efforts and emphasized the need for collective action in combating corruption.
He reiterated his call for the establishment of special courts to expedite corruption cases, urging the National Assembly to facilitate this process. He emphasized that addressing corruption through extraordinary measures like special courts was crucial for Nigeria’s development and called for legislative support in this endeavor.
The lack of liquidity in the foreign exchange market has eroded confidence in the Naira, leading many Nigerians and companies to conduct their transactions in dollars.
TheWitness previously reported that EFCC had established a task force to enforce existing laws against currency mutilation and the dollarization of the economy as announced on February 7, 2024.
The task force has since been deployed to all EFCC zonal commands with the aim of safeguarding the economy against abuses, leakages, and distortions that could lead to instability and disruption.
The commission further disclosed that it apprehended several individuals involved in issuing invoices in dollars and mutilating the Naira in Lagos and Port Harcourt.
