In a bold move to safeguard Nigeria’s economic integrity, the Economic and Financial Crimes Commission (EFCC) has declared war on establishments demanding payment in dollars from local customers.
Ola Olukoyede, EFCC’s Chairman, delivered this warning in the latest issue of EFCC Alert, the commission’s monthly e-magazine.
He minced no words, cautioning schools, supermarkets, hotels, and others to cease their dollarization practices or face the consequences.
Olukoyede emphasized that such actions are illegal under Nigerian law and vowed to take legal action against offenders.
“Schools that charge Nigerians in dollars, supermarkets that trade in dollars, estate developers that sell their property in dollars, hotels that invoice in dollars—we are coming after you,” he declared.
Highlighting recent arrests in this area, Olukoyede stressed the importance of proper documentation for transactions involving foreigners and their credit cards.
However, using dollars as the medium of exchange within the local economy is deemed unlawful and will not be tolerated.
The EFCC’s message is clear: the era of dollar demands within Nigeria’s borders is over, and those who continue this practice will face the full force of the law.
About The Author
