EFCC LAUNCHES SPECIAL TASK FORCE TO COMBAT CURRENCY MULTILATION AND DOLLARIZATION
In a bid to safeguard the Nigerian economy from the detrimental effects of currency mutilation and dollarization, the Economic and Financial Crimes Commission (EFCC) has taken decisive action. Under the leadership of Executive Chairman Ola Olukoyede, the EFCC has inaugurated a Special Task Force across all its Zonal Commands dedicated to enforcing existing laws pertaining to these issues.
The primary aim of the Task Force is to stem the tide of currency abuse, leakage, and distortion that threatens the stability and integrity of the economy. Notably, the EFCC has already initiated arrests of individuals involved in activities such as invoicing in dollars and the mutilation of the Naira. These arrests took place in key economic hubs such as Lagos and Port Harcourt.
Furthermore, the EFCC has extended its scrutiny to proprietors of private universities and other higher education institutions that charge fees in dollars. Invitations have been issued to these entities as part of the Commission's efforts to address practices contributing to currency destabilization.
The EFCC reaffirms its dedication to upholding all relevant laws aimed at revitalizing and fortifying the Nigerian economy. With the establishment of this Special Task Force, the Commission sends a clear message that it remains vigilant and resolute in its mission to combat financial crimes and safeguard the nation's economic interests.