EFCC sets up task force to combat dollarization of economy, mutilation of naira

The Economic and Financial Crimes Commission (EFCC) has announced the setting up of a special task force in zonal commands to address currency mutilation and dollarization of the economy.

The anti-graft agency disclosed this in a statement released via its official X handle on Wednesday.

The Task Force, under the chairmanship of the Commission’s Executive Chairman, Mr. Ola Olukoyede, seeks to protect the economy from abuses, leaks, and distortions that might cause 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 the 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.”

Persecondnews recalls that a Federal High Court in Lagos recently sentenced an actress, Miss Oluwadarasimi Omoseyin, to six months imprisonment for abusing new naira notes at a social event.

The EFCC had arraigned her on February 13, 2023, after she was arrested by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on February 1, 2023.

Omoseyin, who pleaded guilty to two counts of tampering with the currency issued by the Central Bank of Nigeria (CBN), was given the option of paying a fine of N300,000.

According to the EFCC, Omoseyin sprayed and stepped on the new naira notes worth N100,000 while dancing at a friend’s wedding at Monarch Event Centre, Lekki, Lagos, on January 28, 2023.

The anti-graft agency said the offence contravened Section 21(1) of the CBN Act, 2007, which prohibits the abuse of naira notes and coins.