EFCC Clamps Down On Firms Issuing Invoices In Dollar

EFCC Clamps Down On Firms For Issuing Invoices In Dollar

Amid efforts to curb the continued depreciation of the naira against the dollar, the Economic and Financial Crimes Commission (EFCC) revealed the arrest of numerous currency racketeers in Lagos, Port Harcourt, and Kaduna.

Additionally, it has summoned proprietors of privately operated universities and higher institutions who impose fees in dollars for questioning.

Naija News reports that EFCC announced on Wednesday that it has established a Special Task Force within its Zonal Commands in order to address the issues of currency mutilation and dollarization of the economy.

This development coincided with a request from the Association of Bureaux De Change Operators of Nigeria (ABCON) for the Central Bank of Nigeria (CBN) to permit its members to recommence dollar sales.

The naira traded at N1,490/$ at the parallel market and N1,418/$ in banks yesterday.

In a statement by its Head of Media and Publicity, Dele Oyewale, the EFCC said the task forces will ensure “the enforcement of extant laws against currency mutilation and dollarisation of the economy.

“The task force, inaugurated by the Executive Chairman of the Commission, Ola Olukoyede, was raised to protect the economy from abuses, leakages and distortions exposing it to instability and disruption.

In a separate statement, the EFCC reported that its operatives from the Kaduna Zonal Command apprehended three individuals linked to suspected currency racketeering.

Identified as Musa Gideon, Abdul Seidu Adamu, and Justine Musa, the suspects were apprehended yesterday on Yakubu Gowon Way, Kaduna, as they attempted to “sell new naira notes to an EFCC undercover operative.

The post EFCC Clamps Down On Firms Issuing Invoices In Dollar appeared first on Naija News.

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