EFCC stops dollar transactions, asks embassies to charge in naira

EFCC stops dollar transactions, asks embassies to charge in naira.

The EFCC has asked the federal government to ban embassies from transacting in foreign currencies within Nigeria, saying it is illegal and “unhealthy”.

In a letter addressed to Foreign Affairs Yusuf Tuggar, EFCC chairman Ola Olukoyede registered his displeasure that the embassies charge visa fees and consular services in dollars and other foreign denominations. EFCC urged the ministry to convey its displeasure to the embassies and warn them against disregarding Nigeria’s rules and regulations.

The agency maintained that charging in foreign currencies for services within Nigeria contravened section 20(1) of the Central Bank of Nigeria Act, 2007.