The Economic and Financial Crimes Commission (EFCC) has stated that hotels, schools, and other establishments that accept payments in dollars from their customers are at risk of facing arrest.
\nThe Chairman of EFCC, Ola Olukoyede, said this in the agency\u2019s publication called EFCC Alert on Monday, adding that action would be taken against individuals involved in the dollarisation of the economy.
\nAccording to him, the exception is if foreigners come in to transact business and the only means of transacting is their credit card and dollar but to charge local customers in dollars or other foreign currencies would no longer be allowed.
\nHe said charging local activities and customers in dollars is against Nigeria\u2019s constitution.
\nThe EFCC chairman said, \u201cSchools 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.
\n\u201cYes, if foreigners are coming in and the only means of transacting is their credit card, and dollar, why not? You will get that.
\n\u201cBut 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.
\n\u201cOur law does not allow for that. And we have also affected some arrests.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Economic and Financial Crimes Commission (EFCC) has stated that hotels, schools, and other establishments that accept payments in dollars from their customers are at risk of facing arrest. The Chairman of EFCC, Ola Olukoyede, said this in the agency\u2019s publication called EFCC Alert on Monday, adding that action would be taken against individuals involved […]<\/p>\n","protected":false},"author":1,"featured_media":296034,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76],"tags":[688],"class_list":["post-330713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-front-pix"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/330713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=330713"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/330713\/revisions"}],"predecessor-version":[{"id":330723,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/330713\/revisions\/330723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/media\/296034"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=330713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=330713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=330713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}