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EFCC Implements Ban On Dollar Transactions In Nigeria, Urges Embassies To Adopt Naira

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EFCC Implements Ban On Dollar Transactions In Nigeria, Urges Embassies To Adopt NairaThe Economic and Financial Crimes Commission (EFCC) has issued a stern warning to foreign missions operating in Nigeria, prohibiting them from engaging in transactions using foreign currencies and mandating the use of the Naira for their financial activities.....KINDLY READ THE FULL STORY HERE▶

Additionally, the EFCC has directed Nigerian foreign missions abroad to exclusively transact in Naira for their financial operations. This decision comes as a response to combat the dollarization of the Nigerian economy and the devaluation of the Naira.

In an advisory titled “EFCC Advisory to Foreign Missions against Invoicing in US Dollar,” sent to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, the anti-graft commission expressed its concerns and dissatisfaction with the practice of certain foreign missions invoicing consular services to Nigerians and other foreign nationals in the country using the United States dollar.

In a letter dated April 5, 2024, addressed to the Minister of Foreign Affairs, the Chairman of the EFCC, Ola Olukoyede, expressed disappointment regarding the invoicing of consular services in Nigeria in dollars by foreign missions. The EFCC cited Section 20(1) of the Central Bank of Nigeria Act, 2007, which designates the currencies issued by the central bank as the only legal tender in Nigeria.

The letter stated, “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.”

“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.”

Additionally, the EFCC has announced its intention to crack down on schools, hotels, supermarkets, and other businesses in Nigeria that charge customers in dollars and other foreign currencies. The anti-graft agency emphasized that such practices are illegal and put pressure on the Naira. As part of its efforts, the EFCC has established a task force comprising 7,000 individuals to tackle dollar fraud and other illegal foreign exchange transactions in the country. The EFCC aims to ensure compliance with the use of the Naira as the sole legal tender for transactions in Nigeria, emphasizing its importance as the symbol of the nation’s economy.

Published by Caleb Alfred

Crime

Beyond Control? Notorious Bandit Leader Bello Turji Fuels New Wave Of Fear With Advanced Weaponry.

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New intelligence suggests that the notorious bandit leader, Bello Turji, is significantly expanding his operational reach and capabilities. Bashir Altine Guyawa Isa, a leader of the Rundunar Adalchi vigilante group in Sokoto State, reported the following developments in an interview with the BBC Hausa Service:....KINDLY READ THE FULL STORY HERE▶

    • Strategic Alliances: Turji has allegedly partnered with Boko Haram to provide training and logistical support to his fighters, marking a shift toward more sophisticated criminal tactics.

    • Operational Training Base: Local security volunteers have identified a long-standing training camp near the Sokoto-Zamfara border. This facility is reportedly used for the recruitment, indoctrination, and arming of new combatants.

    • Expanding Targets: Intelligence indicates that these groups may be planning to move beyond rural attacks to target prominent individuals and high-profile government installations.

    Urgent Calls for Intervention

    The continued existence of this training camp is viewed as a major threat to regional stability, potentially undoing progress made by security forces. Isa emphasized several critical points regarding the current situation:

    • Known Risks: He claims that the relevant authorities are already aware of the facility’s existence and must act decisively to dismantle it before the situation worsens.

    • Need for Action: There is an urgent call for enhanced military intervention and intelligence-led operations to prevent further violence, kidnappings, and attacks across Sokoto, Zamfara, and neighboring states.

    • Preventive Measures: He warned that delay will only embolden these criminal networks, putting more communities at risk of terror.

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Crime

Terror Training Camp Exposed: Bello Turji’s Loyalists Stage Military-Style Drills On Sokoto-Zamfara Border.

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A recent report from the Movement for Social Justice and Good Governance, presented by its Sokoto State Coordinator, Basharu Altine, indicates that followers of notorious bandit leader Bello Turji are conducting military-style tactical training and weapons drills along the Sokoto-Zamfara border. The activities are reportedly occurring across a corridor spanning Bingabale Kudu, Bafarawa East, and Bargaja.....KINDLY READ THE FULL STORY HERE▶

  • Leadership Involvement: The exercises allegedly feature key associates of Turji, specifically identifying his younger brother, Dodo, and an individual named Illa Manawa.

  • Advanced Weaponry: Intelligence suggests the fighters are being trained on newly acquired, sophisticated arms—some of which have been used in recent clashes with security forces—and are also utilizing night-vision equipment.

  • Strategic Expansion: Altine stated that fresh recruits with advanced combat expertise have arrived to bolster the group’s capabilities.

  • Key Facilitators: Investigations have linked the procurement and transport of these weapons to bandit commanders Haru Dole and Ibrahim Chimo, who are reportedly forming a growing alliance with Turji.

  • Security Threats: Concerns have been raised regarding potential coordinated attacks on local government headquarters in eastern Sokoto before the height of the rainy season.

Altine has urged security agencies to take immediate, proactive steps to investigate these claims and protect local communities. Additionally, security analyst Zagazola Makama recently reported that two of Turji’s brothers have been actively involved in violent operations throughout the Sokoto and Zamfara regions.

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Crime

The Wait Is Over: INEC Sets 10 PM Deadline For High-Stakes Ekiti Results.

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Ekiti State’s Resident Electoral Commissioner, Bunmi Omoseyindemi, has announced that the collation of results for Saturday’s governorship election is scheduled to commence promptly at 10 pm. Speaking on Channels Television, Omoseyindemi confirmed that the Independent National Electoral Commission (INEC) is currently awaiting results from the state’s various local government areas and has finalized preparations for a seamless collation exercise.....KINDLY READ THE FULL STORY HERE▶

Regarding the ongoing process of uploading polling unit results to the INEC Result Viewing Portal, Omoseyindemi addressed public concerns about delays, citing network challenges in certain remote and mountainous regions of Ekiti as the primary cause. He reassured stakeholders that all remaining results will be uploaded as soon as officials move to locations with reliable network access.

As of 9:30 pm, INEC had successfully uploaded 2,128 out of the anticipated 2,445 results, accounting for approximately 83.07 per cent of the total. Voting concluded in most units by 3 pm, with subsequent sorting and counting taking place across all 16 local government areas.

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