EFCC warns schools, hotels, others against charging in dollar

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has warned schools, supermarkets, hotels and others against charging for services in the country in dollars or any other foreign currency.
Olukoyede, in the latest edition of the commission’s monthly e-magazine, called EFCC Alert released on Monday, threatened to jail anyone found dollarising the economy.
The EFCC boss warned that anyone caught collecting the dollar for services or goods would be treated as a criminal under relevant Nigerian laws.
He vowed that the commission would go after schools, supermarkets, hotels, estate developers and business operators that used the dollar for transaction instead of naira.
“We have also started securing convictions.
“Schools that charge Nigerians in dollar, supermarkets that trade in dollar, estate developers that sell their property in dollar, hotels that are invoicing in dollar, 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 dollar as the medium of exchange, it is illegal.
“Our law does not allow for that. And we have also effected some arrests,” he said.
According to him, this is making impact as the rate at which some people advertise goods and services in dollar has really gone down.
“We are not going to relent. We are going to continue until we eradicate mutilation of currency, and illegal dealing in forex. Another area is in the area of illegal forex trading.
“Coupled with the activities of the CBN, we are trying to ensure that those involved in currency trading are properly licensed, regulated, and do their documentation properly,” he stated.