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EFCC Stops Dollar Transactions, Asks Embassies To Charge In Naira

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
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.
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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.
“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’.
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“This presupposes that any transaction in currencies other than the naira anywhere in Nigeria contravenes the law and is, therefore, illegal.”
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.
“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.”
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When contacted for comments, the spokesperson for the EFCC, Dele Oyewale declined comments.
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.
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.
Last week, it also paraded over 20 BDC operators arrested in the capital city.
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Jonathan To Meet Tinubu Over Nnamdi Kanu’s Detention — Sowore
Human rights activist and former presidential candidate, Omoyele Sowore, said former President Goodluck Jonathan has agreed to engage President Bola Tinubu on the continued detention of the leader of the Indigenous People of Biafra, Nnamdi Kanu.
Sowore disclosed this on Friday via his X handle after meeting with Jonathan in Abuja.
According to him, their discussion centred on the “urgent and compelling need” to address Kanu’s case “decisively and justly.”
Sowore said, “Earlier today in Abuja, I met with former President @GEJonathan (Goodluck Jonathan) to discuss the continued incarceration of Mazi @NnamdiKanu
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“President Jonathan agreed that there is an urgent and compelling need to address this matter decisively and justly. I thank him sincerely for recognising the importance of resolving Kanu’s case in the interest of peace, fairness, and national healing.
“Particularly assuring was that he promised to meet @officialabat (President Bola Tinubu) to discuss this issue as soon as possible.”
He noted that with this development, Jonathan joins a growing list of Nigerians who have called for justice in Nnamdi Kanu’s case.
“A list that already includes ex-Vice President @atiku, Femi Falana SAN, Senator @ShehuSani, and many others across political and regional divides,” Sowore said.
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The activist reiterated his call for Kanu’s release, saying the IPOB leader “remains in detention today because he took up the just cause of confronting the long-standing issue of marginalisation in Nigeria.”
He also urged political, cultural, and religious leaders, including Peter Obi, Chukwuma Soludo, Alex Otti, Francis Nwifuru, Peter Mbah, Hope Uzodinma, Oby Ezekwesili, and Ohanaeze Ndigbo’s John Mbata, to join the campaign for Kanu’s release.
Kanu has been in detention since 2021 after being re-arrested abroad and returned to Nigeria to face trial on charges bordering on terrorism and treasonable felony.
Several court orders granting him bail or ordering his release have yet to be implemented.
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Yiaga Africa, Kukah Centre, Others Demand Live Broadcast Of INEC Chair Screening
Civil society organisations (CSOs) in Nigeria have appealed to the Senate to ensure that the screening of Professor Joash Amupitan (SAN) for the position of Chairman of the Independent National Electoral Commission (INEC) is broadcast live to the public.
According to the groups, a live broadcast of the screening would promote transparency, accountability, and public confidence in the process of appointing the head of the nation’s electoral body.
In a statement made available to The Guardian on Friday, they emphasised that, given the crucial role INEC plays in safeguarding Nigeria’s democracy, citizens have a right to witness and assess the integrity, competence, and independence of the nominee being considered for such a sensitive position.
The CSOs include Yiaga Africa, Women Rights Advancement Protection Alternative (WRAPA), International Press Centre, The Kukah Centre, Centre for Media and Society, TAF Africa, African Centre for Leadership, Strategy & Development (Centre LSD), Nigeria Women Trust Fund, Accountability Lab Nigeria, and YERP Naija Campaign.
According to the organisations, live coverage would help dispel any suspicion of bias or backroom dealings, while allowing Nigerians to engage more meaningfully in discussions about electoral reforms and leadership within the electoral body.
“We call on the Senate to ensure that its confirmation hearings are transparent, televised, and inclusive of citizen and civil society input through memoranda, petitions, and participation in the confirmation hearings.
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“The Senate should undertake a rigorous examination of his competence, public records, vision for electoral reform, INEC’s institutional strengthening, as well as his capacity to resist political interference and uphold electoral integrity.
“The Senate should also interrogate the nominee’s plans to address systemic challenges, including voter registration, result transmission, and enforcement of INEC’s regulations and guidelines.
“Nigerians expect the Senate confirmation process to be open to citizens’ participation in line with the Framework for Citizens’ Engagement in the INEC Appointment Process previously submitted to the Senate by the undersigned civil society organisations. This includes full disclosure of the nominee’s credentials, public service history, and capacity to manage elections without political interference,” the statement reads.
While acknowledging Professor Amupitan’s academic and professional accomplishments, they declared that they have no objection to his nomination, even as they tasked him to “demonstrate moral courage and resistance to political interference,” if confirmed by the Senate.
(GUARDIAN)
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Recruitment: NCS sets Date For Final Exam
The Nigeria Customs Service (NCS) has announced that the final computer-based examination for all successful Superintendent Cadre applicants will hold on Tuesday, 14 October, across the six geopolitical zones of the country.
According to a statement posted on the NCS recruitment update portal, the examination will be conducted simultaneously in designated states and centres based on candidates’ states of origin.
The service advised shortlisted applicants to log in with their National Identification Number (NIN) at https://updates.customs.gov.ng](https://updates.customs.gov.ng) to access their examination details, including assigned centres. Candidates are required to print their coloured examination slips for presentation at the venue.
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The designated centres for the examination include Lagos and Osun (South West), Enugu and Abia (South East), Rivers and Edo (South South), Abuja and Kwara (North Central), Bauchi and Adamawa (North East), and Kaduna and Sokoto (North West).
NCS warned that failure to report at assigned centres could result in disqualification. Further details and specific instructions will be communicated through the recruitment update portal.
The agency stressed that the stage is strictly for successful applicants under the Superintendent Cadre category.
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