By Goodluck Ikiebe
The Economic and Financial Crimes Commission (EFCC) has directed foreign missions in Nigeria to cease transactions in foreign currencies and conduct their financial activities using the Naira.
Similarly, Nigerian foreign missions abroad are mandated to accept Naira in their financial transactions.
This measure aims to combat the dollarization of the Nigerian economy and the devaluation of the Naira.
In an advisory addressed to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, titled “EFCC Advisory to Foreign Missions against Invoicing in US Dollar,” the EFCC expressed concern and disapproval regarding the practice of invoicing consular services to Nigerians and other foreign nationals in the country in United States dollars.
