The Economic and Financial Crimes Commission (EFCC) has taken decisive action to counter the dollarization of the economy and the mutilation of the currency across the nation by instituting a special task force in all its zones.
In an official statement released by the Head of Media and Publicity, Dele Oyewale, the anti-graft agency outlined the primary objectives of the task force. Its formation aims to safeguard the economy against potential abuses, leakages, distortions, and exposure to instability and disruptions.
The EFCC has not only taken a proactive stance but has already demonstrated its commitment by making arrests of individuals engaged in these illicit activities, particularly in the cities of Lagos and Port Harcourt.
Proprietors of institutions found to be charging students in dollars have also come under scrutiny, with the EFCC inviting them for questioning. The commission views this move as essential to curbing financial malpractices that undermine the stability and integrity of the nation’s economy.
The official statement from the EFCC reads, “Already, the Commission has made some arrests of perpetrators of the issuance of invoices in dollars and mutilation of the Naira in Lagos and Port Harcourt. 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.”
This decisive action by the EFCC reflects its dedication to upholding the laws governing economic activities and protecting the national currency from illegal practices. As the task force intensifies its efforts, it sends a strong message that such activities will not be tolerated, underscoring the agency’s commitment to maintaining a stable and thriving economic environment.
