Establishments including hotels, supermarkets, and schools have received a strong warning from the Economic and Financial Crimes Commission (EFCC) not to charge for services in dollars or any other foreign currency while operating within the nation.
The agency’s Chairman, Ola Olukoyede, on Monday, made the announcement in the latest edition of the commission’s monthly e-magazine, EFCC Alert.
Olukoyede vowed to bring legal action against anyone discovered participating in the dollarization of the economy. He underlined that under Nigerian law, such acts would be considered crimes.
“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 effected some arrests,” he said.