EFCC To Take Action Against Schools Requesting Payment In Dollars In Nigeria

May 6, 2024 - 10:48
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EFCC To Take Action Against Schools Requesting Payment In Dollars In Nigeria

By Missang AKPET As a way to alleviate the strain on the naira, the Economic and Financial Crimes Commission (EFCC) has revealed that it is closely monitoring international schools in the country that charge tuition fees in dollars and other foreign currencies.

The commissions Head, Media & Publicity Dele Oyewale who disclosed this to newsmen in Abuja said the commission will take action against schools and organizations accepting foreign currencies.

He emphasized that it is against the law for schools, hotels and other businesses in the country to insist and accept payments in foreign currencies.

He stated that a special team of 7,000 officials across the various EFCC regional divisions have been appointed to tackle dollar fraudsters and are keeping a close watch on schools and other institutions suspected of engaging in this illegal activities.

According to him, “The task force is not just to monitor naira abuse alone but for the whole economy.

So, the EFCC is working to ensure that those breaking the rules find their way back to the right path so that the wrath of the law will not be on them.

“Yes, everyone knows that it is illegal to charge in other denominations apart from the naira be it in Chinese or American currency, any transaction that is not denominated in the naira in Nigeria, the EFCC is against it.

“So, the task force is in place to check that and Nigerians should be happy about that.

It is not just schools, hotels but other entities across the country that are doing this must come back to the naira as our legal tender.’’ 

“Naira is the symbol of our economy and everything that has to do with the economy in Nigeria must be done in naira" he hinted.