Politics
EFCC Targets Businesses, Schools, And Hotels Over Dollar Transactions
EFCC Targets Businesses, Schools, And Hotels Over Dollar Transactions
The Economic and Financial Crimes Commission (EFCC) has announced its intention to crack down on businesses such as schools, hotels, supermarkets, and other establishments in Nigeria that charge customers in foreign currencies, including dollars. The EFCC emphasized that such practices put undue pressure on the Naira, which is unacceptable.
Dele Oyewale, the Head of Media and Publicity for the EFCC, underscored that it is illegal for businesses and organizations to conduct transactions in foreign currencies for local operations. He revealed that the anti-graft agency has formed a task force comprising 7,000 individuals to combat fraudulent activities involving dollars and other illegal foreign exchange dealings within the country.
Oyewale clarified that the task force’s mandate extends beyond monitoring Naira-related infractions; it encompasses safeguarding the entirety of the economy. He stressed the EFCC’s commitment to guiding offenders back to compliance to avoid legal repercussions.
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Source: Bushradiogist
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