EFCC Givers Stern Warning To Organization Transacting With Dollar

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A stern warning has been given by the Economic and Financial Crimes Commission, EFCC, on Monday to organizations transacting with dollar or any foreign currency that they risk being sent to jail.

The agency during its latest edition of its monthly e-magazine made this known through its chairman Ola Olukoyede, that anyone caught using the dollar as a medium of exchange for goods and services will be treated as a criminal.

This warning was majorly directed towards those who charge for services rendered in foreign currency such as schools, supermarkets, hotels, estate developers, and business operators, and others to take precautions.

Olukoyede said it became imperative to break the cycle to strengthen the naira but in situations where a foreigner comes into the country and the only means of transaction is their credit card or dollar, those would be treated as exceptions.

He further stressed that such should be adequately documented as the local economy does not trade with the dollar and it’s termed illegal.

[SA]