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The Economic and Financial Crimes Commission (EFCC) has raised concerns about foreign missions in Nigeria violating dollar transaction regulations.
Wilson Uwujaren, the Director of Public Affairs of the commission, highlighted this issue in an interview on Channel Television.
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According to Uwujaren, some third-party agents working for foreign missions are bypassing transaction regulations by conducting transactions in dollars.
The Economic and Financial Crimes Commission previously warned foreign missions, instructing them to use the naira instead of foreign currencies for their financial activities.
Uwujaren emphasized that the naira is the only legal tender in Nigeria, as stated in Section 20 subsection 1 of the EFCC Act. He expressed concern over instances where third-party agents invoiced in dollars and even determined the exchange rate of the naira for their transactions.
The EFCC has informed the Ministry of Foreign Affairs about these violations and stressed the importance of adhering to Nigerian laws. Uwujaren emphasized the government’s responsibility to communicate with foreign missions and ensure that their activities comply with local regulations.
