FG Sets Up Taskforce To Curb Dollarisation Of Economy As EFCC Summons School Proprietors Charging Fees In Dollars

Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC) has set up a Special Task Force in all its Zonal Commands to tackle the menace of the dollarisation of the economy.

SaharaReporters reported that the free fall of naira, the Nigeria’s currency at the foreign exchange market coupled with cost of Petrol had triggered galloping inflation which has raised costs of living to unbearable level.

There have been protests in some parts of the country recently over the high cost of living, as Nigerians accused the political leaders of living large and showing no concerns.

However, the anti-graft agency in statement on Wednesday, said that it had also invited proprietors of private universities and other institutions of higher learning in Nigeria charging fees in dollars.

In the statement signed by EFCC’s Head Media and Publicity, Dele Oyewale, explained that the task force would ensure the enforcement of extant laws against currency mutilation and dollarisation of the economy.

Quoting the chairman of the commission, Ola Olukoyede, who inaugurated the task force in Abuja, the spokesperson said the taskforce was aimed at protecting the economy from abuses, leakages and distortions.

According to the statement, the EFCC had already arrested some persons, although no figure was mentioned, whom it said were engaging in issuing invoices in dollars and in mutilation of the Naira in Lagos and Port Harcourt.

“Already 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,” it partly read.