EFCC Forms Special Task Force to Fight Dollarization, Currency Mutilation

Confidence UbaniFebruary 7, 20241 Mins read1.2k

The Economic and Financial Crimes Commission (EFCC) has raised a dedicated task force across its zones to fight the dollarization of the economy and the mutilation of the national currency.

This move is reported to be aimed at safeguarding the economy from potential abuses, leakages, distortions, and exposure to instability.

According to Dele Oyewale, the Head of Media and Publicity for the EFCC, the newly formed task force is committed to addressing these issues and ensuring the economy remains resilient.

Recent arrests of individuals engaging in illicit acts have already taken place in Lagos and Port Harcourt. The EFCC has extended its scrutiny to proprietors of private universities and other higher learning institutions that charge fees in dollars.

“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.

“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,” Oyewale stated.