The Economic and Financial Crimes Commission (EFCC) has reportedly convicted over 50 individuals for currency racketeering and the “dollarisation” of Nigeria’s economy this year alone. EFCC Chairman Ola Olukoyede shared this during an oversight visit by the Senate Committee on Anti-Corruption, led by Senator Emmanuel Udendeon, to the EFCC headquarters in Abuja.
Mr. Olukoyede condemned currency racketeering and dollarisation as acts of economic sabotage, emphasizing the importance of upholding the naira as Nigeria’s legal tender.
The EFCC has also summoned a Nigerien national, Ibrahim Mohammad, and his family following a viral video showing naira notes being sprayed at his wedding in Kano, raising concerns over currency abuse.
This action is part of the EFCC’s wider campaign against naira abuse, aiming to discourage the misuse of currency in public and uphold national monetary standards.
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