By CrossRiverWatch Admin
The Economic and Financial Crimes Commission (EFCC) has said it will go after hotels, schools, and other establishments that dare to demand payment in dollars from their local customers.
The EFCC gave the warning to schools, supermarkets, hotels, and others to stop charging in dollars or foreign currencies within the country.
The Commission’s Chairman Ola Olukoyede, the EFCC’s Chairman, stated this on Monday in the most recent issue of the commission’s monthly e-magazine “EFCC Alert”.
Olukoyede warned that legal action would be taken against individuals involved in the dollarization of the economy. Stressing that such behavior would be considered unlawful under Nigerian legislation.
He said: “Schools that charge Nigerians in dollars, supermarkets that trade in dollars, estate developers that sell their property in dollars, hotels that are invoicing in dollars, we are coming after you and we have made arrests in that area.
“Yes, if foreigners are coming in and the only means of transacting is their credit card, and dollar, why not you will get that.
“But document it properly as against selling things within the system, local economy and you will be using the dollar as the medium of exchange, it is illegal.
“Our law does not allow for that. And we have also affected some arrests,” he further warned.
Since You Are Here, Support Good JournalismCrossRiverWatch was founded on the ideals of deploying tech tools to report in an ethical manner, news, views and analysis with a narrative that ensures transparency in governance, a good society and an accountable democracy. Everyone appreciates good journalism but it costs a lot of money. Nonetheless, it cannot be sacrificed on the altar of news commercialization. Consider making a modest contribution to support CrossRiverWatch's journalism of credibility and integrity in order to ensure that all have continuous free access to our noble endeavor. CLICK HERE |
New Feature: Don't miss any of our news again.Get all our articles in your facebook chat box.Click the Facebook Messenger Icon below to subscribe now
Text Advert by CRWatch :Place Yours
Will You To Learn How To Make Millions Of Naira Making Special Creams From Your Kitchen?.Click Here
Expose Your Business And Make More Sales. Advertise On CrossRiverWatch.com Today
Leave feedback about this