The Economic and Financial Crimes Commission (EFCC) has disclosed that it is planning to clamp down on schools, hotels, supermarkets, and other business outfits in Nigeria that charge customers in dollars and other foreign currencies.
The EFCC said such action is unacceptable as it puts pressure on the Naira.
The EFCC Head of Media and Publicity, Dele Oyewale, emphasized that it is against the law for business outfits and organizations to charge and accept foreign currencies including dollars, pound, yen and others for such local transactions
According to him, the anti-graft agency has set up a task force of 7,000 individuals to tackle dollar fraudsters and other illegal foreign exchange transactions in the country.
“The task force is not just to monitor naira abuse alone but for the whole economy. So, the EFCC is working to ensure that those breaking the rules find their way back to the right path so that the wrath of the law will not be on them.
Yes, everyone knows that it is illegal to charge in other denominations apart from the naira. Whether in Chinese or American currency, any transaction that is not denominated in naira in Nigeria, the EFCC is against it.
So, the task force is in place to check that and Nigerians should be happy about that. It is not just schools, hotels but other entities across the country that are doing this must come back to the naira as our legal tender.’’
“Naira is the symbol of our economy and everything that has to do with the economy in Nigeria must be done in naira,” Oyewale told Punch on Thursday.
