The Economic and Finacial Crimes Commission (EFCC) has cautioned that hotels, schools, and other establishments that charge dollars from their local customers risk arrest.
The EFCC Chairman, Ola Olukoyede, who made this known on Monday, said action would be taken against individuals involved in the dollarization of the economy.
According to him, the exception is if foreigners come in to transact business and the only means of transacting is their credit card, and dollar but to charge local customers in dollars or other foreign currencies would no longer be allowed.
Speaking via the commission’s monthly e-magazine, EFCC Alert, Olukoyede said charging local activities and customers in dollars is against Nigeria’s constitution.
“Schools that charge Nigerians in dollar, supermarkets that trade in dollar, estate developers that sell their property in dollar, hotels that are invoicing in dollar, we are coming after you and we have made arrests in that area.
Yes, if foreigners are coming in and the only means of transacting is their credit card, and dollar, why not, you will get that.
But document it properly as against selling things within the system, local economy and you will be using dollar as the medium of exchange, it is illegal.
Our law does not allow for that. And we have also affected some arrests,” he said.
