A Special Task Force has been established by the Economic and Financial Crimes Commission (EFCC) in each of its zonal commands to enforce the rules that are now in place against the dollarization of the economy and currency mutilation.
The Task Force was established to guard against mistreatment, leaks, and distortions that could expose the economy to volatility and disruption. Ola Olukoyede, the Executive Chairman of the Commission, presided over the Task Force’s inception.
The Commission has already made some arrests of those who have been mutilating Naira and issuing invoices in dollars in Lagos and Port Harcourt.
Additionally, the Commission has extended invitations to owners of private universities and other higher education establishments that charge tuition in US dollars.
The Commission is dedicated to upholding all existing laws in order to stimulate and reflate the economy.