EFCC Begins Enforcement of Laws Against Naira Mutilation, Economy Dollarization

EFCC has vowed to commence the enforcement of laws against Naira Mutilation and Economy Dollarization.

 

NewsOnline Nigeria reports that the Economic and Financial Crimes Commission (EFCC) has set up a task force to enforce extant laws against currency mutilation and dollarization of the economy.

 

This is contained in a statement by the commission posted on its official X (formerly Twitter) account on Wednesday, February 7, 2024.

 

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According to the statement, the anti-graft agency has set up the task force in all its zonal commands as an attempt to protect the economy from abuses, leakages and distortions exposing it to instability and disruption.

 

The commission also noted that it has arrested some perpetrators of issuance of invoices in dollars and mutilation of the Naira in Lagos and Port Harcourt.

 

“The Economic and Financial Crimes Commission, EFCC, has raised a Special Task Force in all its Zonal Commands for the enforcement of extant laws against currency mutilation and dollarization of the economy.

 

“The Task Force, inaugurated by the Executive Chairman of the Commission, Ola Olukoyede, was raised to protect the economy from abuses, leakages and distortions exposing it to instability and disruption.

 

“Already, the Commission has made some arrests of perpetrators of issuance of invoices in dollars and mutilation of the Naira in Lagos and Port Harcourt,” the statement reads in part.

In addition, the anti-corruption agency also mentioned that it has extended invitations to private universities and other institutions of higher learning that charge fees in dollars.

It said,

 

“Also, proprietors of private Universities and other institutions of higher learning charging fees in dollars have been invited by the Commission.

 

“The Commission is committed to the enforcement of all laws in place for the reflation and stimulation of the economy.”