EFCC Form Special Task Force To Fight Dollarization Of Economy, Mutilation Of Naira

The Economic and Financial Crimes Commission (EFCC), announced on Wednesday that it has established a Special Task Force within its Zonal Commands in order to address the issues of currency mutilation and dollarization of the economy.

Naija News reports that the anti-graft agency passed the message in an official statement released via its official X handle.

The EFCC explained that the main goal of this endeavour is to guarantee the implementation of regulations and avert any possible economic turmoil.

The Task Force, led by the Executive Chairman of the Commission, Ola Olukoyede, aims to safeguard the economy from abuses, leakages, and distortions that can lead to instability and disruption.

According to the statement, significant progress has already been made, with the Commission successfully apprehending individuals involved in issuing invoices in dollars and mutilating the Naira in Lagos and Port Harcourt.

The statement reads: “The Economic and Financial Crimes Commission, EFCC, has raised a Special Task Force in all its Zonal Commands for the enforcement of extant laws against currency mutilation and dollarization of the economy.

“The Task Force, inaugurated by the Executive Chairman of the Commission, Ola Olukoyede, was raised to protect the economy from abuses, leakages and distortions exposing it to instability and disruption.

“Already, the Commission has made some arrests of perpetrators of issuance of invoices in dollars and mutilation of the Naira in Lagos and Port Harcourt.

“Also, proprietors of private Universities and other institutions of higher learning charging fees in dollars have been invited by the Commission.

“The Commission is committed to the enforcement of all laws in place for the reflation and stimulation of the economy.”