EFCC vows to arrest hotels, schools transacting payment in dollars

Kunle Sanni

The Economic and Financial Crimes Commission (EFCC) said it will arrests hotels, schools, and other establishments that dare to demand payment in dollars from their local customers.

The EFCC warns schools, supermarkets, hotels, and others to stop charging in dollars or foreign currencies within the country.

The EFCC’s Chairman, Ola Olukoyede  stated this on Monday in the EFCC’s monthly e-magazine, Alert.

Olukoyede issued a warning, threatening legal action against anybody complicit in the dollarization of the economy.

He emphasised that in Nigeria, actions of similar nature would be illegal.

“Schools that charge Nigerians in dollar, supermarkets that trade in dollar, estate developers that sell their property in dollar, hotels that are invoicing in dollar, we are coming after you and we have made arrests in that area.

“Yes, if foreigners are coming in and the only means of transacting is their credit card, and dollar, why not, you will get that.

“But document it properly as against selling things within the system, local economy and you will be using dollar as the medium of exchange, it is illegal.

“Our law does not allow for that. And we have also affected some arrests,”