EFCC to Arrest Schools, Hotels, Others Demanding Payments in Dollars


By Innocent Orok

The Economic and Financial Crimes Commission (EFCC) is set to apprehend hotels, schools, and other establishments that dare to demand payment in dollars from their local customers.

The EFCC warns schools, supermarkets, hotels, and others to stop charging in dollars or foreign currencies within the country.

Ola Olukoyede, the EFCC’s Chairman, shared the news on Monday in the most recent issue of the commission’s monthly e-magazine, EFCC Alert.

Olukoyede warned that legal action would be taken against individuals involved in the dollarization of the economy. He stressed that such behavior would be considered unlawful under Nigerian legislation.

“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.

“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.

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


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