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EFCC Accuses Foreign Mission Agents of Currency Violations

The Economic and Financial Crimes Commission (EFCC) has raised allegations against third-party agents associated with foreign missions, accusing them of bypassing transaction regulations by invoicing in dollars.

Wilson Uwujaren, Director of Public Affairs at the EFCC, made these assertions during an interview on Channel TV’s Politics Today.

In a stern move on Saturday, the EFCC issued a warning to foreign missions operating in Nigeria, prohibiting them from conducting transactions in foreign currencies and mandating the use of the naira for their financial activities.

Speaking further during the interview on Monday, Uwujaren reiterated that the naira remains the sole legal tender in Nigeria. He emphasized that the EFCC had communicated this development to the Ministry of Foreign Affairs, underlining the commission’s commitment to upholding currency regulations within the country.

He said, “Section 20 sub section 1 of the EFCC Act says that naira is the only legal tender in Nigeria; meaning that is the only currency that is acceptable for transactions anywhere across the country.

“We found situations that third-party working for missions circumvent that regulation by invoicing in dollars. A number of them go to the extreme of determining the exchange value of naira in their transactions.

“This is worrisome to us. So we have to bring this to the Foreign Affairs Ministry. The government has the responsibility to rule the protocol and channel of communication to bring this observation to the attention of the foreign mission to advise them to ensure that their activities do not go against our laws.”

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