The Economic and Financial Crimes Commission (EFCC) has issued a stern warning to foreign missions in Nigeria, prohibiting them from conducting transactions in foreign currencies and requiring them to utilize the Naira for their financial activities.
Additionally, the EFCC has instructed Nigerian foreign missions stationed abroad to incorporate the Naira into their financial operations.
This measure, according to the EFCC, aims to address the trend of dollarization within the Nigerian economy and prevent the devaluation of the Naira.
The anti-graft commission, in an advisory to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, titled: “EFCC Advisory to Foreign Missions against Invoicing in US Dollar,” expressed reservations and displeasure “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(s).”