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EFCC Stops Dollar Transactions, Asks Embassies To Charge In Naira

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The Economic and Financial Crimes Commission has read the Riot Act to foreign missions based in Nigeria, banning them from transacting in foreign currencies, and mandating the use of Naira in their financial businesses.

The EFCC has also mandated Nigerian foreign missions domiciled abroad to accept Naira in their financial businesses.

The move, the EFCC noted, is to tackle the dollarisation of the Nigerian economy and the degradation of the naira

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The anti-graft commission, in an advisory to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, titled: “EFCC Advisory to Foreign Missions against Invoicing in US Dollar,” expressed reservations and displeasure “regarding the unhealthy practice by some foreign missions to invoice consular services to Nigerians and other foreign nationals in the country in United States dollar(s).”

In a letter dated April 5, 2024, which was addressed to the Minister of Foreign Affairs, Ministry of Foreign Affairs, the EFCC Chairman, Ola Olukoyede expressed dismay over the invoicing of consular services in Nigeria by foreign missions in dollars.

READ ALSO: Cleric Arrested For Defiling Three Minors In Kwara

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The EFCC cited Section 20(1) of the Central Bank of Nigeria Act, 2007, which makes currencies issued by the apex bank the only legal tender in Nigeria.

The letter read, “I present to you the compliments of the Economic and Financial Crimes Commission, and wish to notify you about the commission’s observation, with dismay, regarding the unhealthy practice by some foreign missions to invoice consular services to Nigerians and other foreign nationals in the country in United States dollar ($).

“This practice is an aberration and unlawful as it conflicts with extant laws and financial regulations in Nigeria. Section 20(1) of the Central Bank of Nigeria Act, 2007 makes currencies issued by the apex bank the only legal tender in Nigeria.

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“It states that ‘the currency notes issued by the Bank shall be the legal tender in Nigeria on their face value for the payment of any amount’.

READ ALSO: BREAKING: Reps To Probe Lagos-Calabar Coastal Highway Procurement Process

“This presupposes that any transaction in currencies other than the naira anywhere in Nigeria contravenes the law and is, therefore, illegal.”

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The commission added that the refusal by some missions to accept the naira for consular service in Nigeria and also comply with the foreign exchange regulatory regime in fixing the exchange of the cost of their services is not only illegal but represents an affront to the country’s sovereignty symbolised by the national currency.

Such a situation, EFCC added, undermines Nigeria’s monetary policy and aspiration for sustainable economic development.

The letter continued, “This trend can no longer be tolerated, especially in a volatile economic environment where the country’s macroeconomic policies are constantly under attack by all manner of state and non-state actors.

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“In light of the above, you may wish to convey the commission’s displeasure to all missions in Nigeria and restate Nigeria’s desire for their operations not to conflict with extant laws and regulations in the country.”

READ ALSO: Why We Took Over Rivers Assembly Quarters – Police

When contacted for comments, the spokesperson for the EFCC, Dele Oyewale declined comments.

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Meanwhile, the EFCC had resumed raiding in a bid to stabilise the naira.

Operatives of the EFCC had on Tuesday arrested some Bureau De Change operators at the popular Wuse Zone 4 market in the Federal Capital Territory, Abuja.

However, traders also said some BDC operators resisted the arrest during a sting operation.

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The operatives had embarked on routine raids to sanitise the market of street traders and eliminate arbitrary trading.

But this move was resisted on Tuesday, leading to gunshots and damage to the operatives’ vehicles.

Penultimate week, the commission arrested over 35 suspected currency speculators for alleged foreign exchange fraud.

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Last week, it also paraded over 20 BDC operators arrested in the capital city.
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AGILE Leads 200 Girls On Road Walk To Create Awareness In Bauchi

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The Adolescent Girls Initiative for Learning and Empowerment (AGILE), has commemorated the 2025 International Day of the Girl Child by leading 200 girls on a walk to the Bauchi State Government House.

The International Day of the Girl Child is an international observance day declared by the United Nations. The day is also called the Day of Girls and the International Day of the Girl.

The observation of the day supports more opportunities for girls and increases awareness of gender inequality faced by girls worldwide based upon their gender.

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Speaking shortly before leading the girls on the road walk, Hajiya Ladi Muhammad, the AGILE Project Coordinator in the state, said that since the inception of the project, more girls had been enrolled in schools.

READ ALSO: Bauchi Begins Production Of Exercise Books, Chalks For Schools

According to her, through AGILE, this year’s celebration could be emphasised by showcasing how education equips girls not only to navigate crises but to lead recovery and transformation within their communities.

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She explained that the celebration in Bauchi State has the objective of showcasing AGILE’s role in empowering girls through education, life skills, and inclusion programmes.

She added that it was also meant to promote inclusive education for all girls, including those out of school and girls with disabilities as well as demonstrate learning-to-lead pathways through digital literacy, life skills, and climate action initiatives.

“The celebration was further to strengthen engagement between girls, leaders, and policymakers through interactive dialogue.

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“Most importantly, it was to raise awareness of AGILE systems, Conditional Cash Transfer and Life Skills that sustain access to quality education and build resilience among girls and their communities.

READ ALSO:AGILE: Bauchi Govt. To Recruit 3,000 Teachers

“The celebration aligns that when girls are educated and empowered, they not only recognise their worth but also become active agents of change, leading responses, driving recovery and building resilience within their communities and beyond,” she said.

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Also speaking, Dr Mohammed Lawal the state’s Commissioner for Education, reiterated the state government’s commitment to girl child education and welfare.

He explained that the AGILE project has improved the enrolment of more girls into the schools across the state especially , through the conditional cash transfer system which he said, has mobilised more girls to access education.

Mohammed assured that the government would not fail in creating a conducive atmosphere for the girls to acquire education and attain their potential.

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Japan In Political Crisis As Coalition Collapses

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Japan’s ruling coalition collapsed Friday as junior partner Komeito quit the alliance, putting in peril Sanae Takaichi’s bid to become the country’s first woman prime minister.

Takaichi became head of the Liberal Democratic Party less than a week ago and had been expected to be approved by parliament as premier this month.

But Komeito’s decision to end the alliance that has governed Japan almost uninterrupted for 25 years plunged Japan into a new political crisis.

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The yen dropped against the dollar following the announcement, while the Nikkei closed down 1.0 per cent.

READ ALSO:Two Japanese Boxers Die From Brain Injuries At Same Event

“We want the LDP-Komeito coalition to go back to the drawing board for now and bring an end to our relationship,” Komeito party chief Tetsuo Saito told reporters after talks with the LDP.

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Given that we have not received clear and concrete cooperation from the LDP regarding our demands, and if these reforms prove impossible to achieve, I said (in the meeting) that it would be utterly impossible for us to write Sanae Takaichi’s name in the nomination,” he said.

In particular, Saito told Takaichi that her answers on the LDP’s recent slush fund scandal were unsatisfactory, media reports said.

Saito said, however, that Komeito would still support budget plans and other legislation that the two parties have prepared.

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READ ALSO:Two Japanese Boxers Die From Brain Injuries At Same Event

Takaichi was due to replace Shigeru Ishiba, who took the reins last year, but whose coalition lost its majority in both houses of parliament, in part because of voter anger at inflation and the LDP slush fund scandal.

Komeito was reportedly also unhappy about Takaichi’s more conservative politics.

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This includes her previous regular visits to the Yasukuni shrine honouring Japan’s war dead, including war criminals.

READ ALSO:Japan Plane Turns Back After Man Bites Cabin Attendant

The last visit to Yasukuni by a serving prime minister in 2013, by the late Shinzo Abe — Takaichi’s mentor — prompted fury from China and South Korea and disquiet from Washington.

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Media reports this week said that Takaichi might skip going to the shrine during the upcoming autumn festival, which will be held from October 17 to 19.

Takaichi, 64, whose hero is Margaret Thatcher, had hailed a “new era” Saturday after becoming head of the LDP.

She had won a runoff leadership contest against the telegenic and more socially progressive Shinjiro Koizumi.

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READ ALSO:Over 400 Earthquakes Rattle Japanese Island Chain

Koizumi, 44, would have been Japan’s youngest prime minister in the modern era and represented a generational change for the LDP.

The LDP has been haemorrhaging support as backing grows for smaller parties, including the anti-immigration Sanseito.

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If Takaichi becomes premier, she faces a host of complex issues, including an ageing population, geopolitical upheaval, a faltering economy and growing unease about immigration.

One of Takaichi’s first official duties as premier will be receiving US President Donald Trump, who is reportedly set to make a stopover in Japan in late October.

AFP

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BRC Sympathises With Edo NSCDC, Family, On Painful Death Of Commandant 

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Benin Recreation Club 1933 (BRC) has sympathised with Nigeria Security and Civil Defence Corps (NSCDC), Edo State Command, over the painful demise of the state commandant, Agun Gbenga Joseph.

In a statement issued by the club’s Public Relations Officer, Mr. Edoko Wilson Edoko, president of the club, Mr. Osayi Courage Osamuyi, described the death of commandant Gbenga as shocking and a painful loss to the security community and the state at large.

“The late Commandant’s death is indeed shocking and a painful loss. He was jovial, very accommodating, and an initiative-driven individual,” Mr. Osayi stated.

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READ ALSO:JUST IN: NSCDC Commandant, Slumps, Dies In Edo

I recall our Club’s visit to his office, where I led members of my Executive Committee to meet with him. We discussed areas of collaboration between Benin Recreation Club and the NSCDC, Edo State Command”, he said.

Osayi further urged the bereaved family and the NSCDC to draw strength from the late Commandant’s legacy of service, professionalism, and dedication to duty.

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He prayed that God grants them the fortitude to bear the irreplaceable loss.

Recall that the Commandant reportedly slumped and died on Thursday, 2nd October 2025, while delivering a goodwill message at an event organised by the International Association of World Peace Advocates held at the Bishop Kelly Pastoral Centre in Benin City.

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