EFCC Announces 5% Reward For Naira Abuse Whistleblowers

EFCC Announces 5% Reward For Naira Abuse Whistleblowers

To further strengthen its campaign against the abuse of the naira, the Economic and Financial Crimes Commission (EFCC) has announced a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders………..CONTINUE READING

Dele Oyewale, the EFCC spokesperson, revealed this during an appearance on the EFCC 97.3FM Abuja talk show yesterday.

Oyewale emphasized the commission’s commitment to enforcing laws and protecting the economy from the adverse effects of naira abuse. He explained that the 5% reward aims to encourage whistleblowers to come forward with valuable information that could lead to successful prosecutions.

“There is a reward if you report anyone abusing the naira. The whistleblowing act offers a 5% reward of the amount involved to those who provide credible information that can withstand the rigors of prosecution and is not motivated by malice or mischief,” Oyewale stated.

He added that the EFCC had secured nearly 50 convictions across the country since the establishment of the task force on naira abuse and dollarization.

Oyewale stressed that rejecting the naira as legal tender is a criminal offense, and those found guilty would face severe legal consequences. He highlighted the commission’s efforts to promote the use of the naira, noting that the widespread use of foreign currencies harms the country’s economic growth.

“It is a crime to reject the naira. If there’s nothing wrong with the naira, even if it’s dirty and not mint, rejecting it is a crime. The naira symbolizes our economy. We are a sovereign nation with our own territorial integrity, so every transaction within Nigeria must be conducted in naira,” Oyewale said.

He reaffirmed the EFCC’s dedication to ensuring the naira’s dominance in the economy and warned against practices that undermine its value

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