Don’t transact in dollar – EFCC warns schools, hotels, others

Don’t transact in dollar – EFCC warns schools, hotels, others

The Economic and Financial Crimes Commission, EFCC, has warned schools, supermarkets, hotels and others against charging for services in the country in dollar or any other foreign currency.

EFCC Chairman Ola Olukoyede, in the latest edition of the commission’s monthly e-magazine, released on Monday, threatened to jail anyone found dollarising the economy.

The EFCC boss cautioned that anyone caught collecting dollar for services or goods would be treated as a criminal in accordance with relevant Nigerian laws.

ALSO READ  Two men in court over alleged theft, assault

He vowed that the commission would go after schools, supermarkets, hotels, estate developers and business operators that used the dollar for transaction instead of naira.

“We have also started securing convictions. 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.

ALSO READ  Ohanaeze warns against illegal amendment of constitution

“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.

ALSO READ  Boko Haram: Troops neutralise four terrorists

“Our law does not allow for that. And we have also effected some arrests,” he said.

Don’t transact in dollar – EFCC warns schools, hotels, others

Share

Leave a reply

  • Default Comments (0)
  • Facebook Comments

Your email address will not be published. Required fields are marked *