EFCC’s Special Task Force Tackles Dollarization of Nigerian Economy

The Economic and Financial Crimes Commission (EFCC) has recently established a Special Task Force in all its Zonal Commands to combat the dollarization of the Nigerian economy and enforce existing laws against currency mutilation.

The move comes as a response to the growing concerns over the stability and integrity of the Nigerian financial system.

According to a statement by EFCC spokesperson, Dele Oyewale, the Task Force was inaugurated by the Chairman of the Commission, Mr. Ola Olukoyede, on February 7, 2024.

The primary objective of the Task Force is to protect the economy from abuse, leakages, and distortions that may lead to instability and disruptions.

In line with this, the Commission has already made some arrests of individuals involved in the issuance of invoices in dollars and the mutilation of the Naira in Lagos and Port Harcourt.

Additionally, proprietors of private universities and other institutions of higher learning charging fees in dollars have been invited by the commission for questioning.

The EFCC remains committed to the enforcement of all laws in place for the reflation and stimulation of the economy.

This recent development highlights the agency’s dedication to safeguarding the Nigerian economy and ensuring that it remains stable and resilient in the face of global economic challenges.