EFCC engages stakeholders in Lagos to curb Naira abuse

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called on stakeholders in the entertainment, financial, and legal sectors to support the Commission’s campaign against the abuse of the Naira. He made the appeal during a sensitisation programme organised by the Lagos Zonal Directorate of the EFCC.

Olukoyede described the Naira as a symbol of national pride and sovereignty, warning that its abuse—especially at social events through spraying and stamping—undermines Nigeria’s values. “How we treat the Naira mirrors how we regard our country,” he said.

He revealed that the EFCC, in collaboration with the Central Bank of Nigeria (CBN), has intensified enforcement and public education efforts, including the formation of a Task Force on Dollarization and Naira Abuse and prosecution of offenders, including celebrities.

Urging creatives to leverage their influence, Olukoyede said: “In every performance, let there be a reminder that mutilating the Naira is a crime. We must all defend the integrity of our currency.”

He further disclosed that over N100 billion in recovered assets had been committed to federal initiatives such as the National Education Loan Fund (NELFund) and the Consumer Credit Scheme (Credicorp), while some confiscated properties had been converted for public use.

Director-General of the National Orientation Agency (NOA), Lanre Issa-Onilu, also addressed the gathering, describing Naira abuse as both illegal and unethical. He called on citizens to embrace national values and take pride in the currency as a national symbol.

Issa-Onilu noted that the NOA is driving behavioural change through multilingual sensitisation, school outreach, and a civic-focused AI assistant that provides real-time information on national values and responsibilities.

Entertainers and industry figures present at the event included Alabi Pasuma, M.I, Illbliss, Osas Ighodaro, Pretty Mike, Terry Apala, Mercy Aigbe, Kazim Adeoti, Funke Bucknor-Obruthe, and Anto Lecky.