Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has once again warned Nigerians against abusing the Naira, emphasizing that the national currency is a “symbol of sovereignty.”
Speaking at a stakeholders’ sensitization program in Lagos on Friday, Olukoyede stated that spraying, stamping, and mutilating the Naira are criminal offenses and are not part of Nigerian culture.
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He expressed concern over the persistent abuse of the currency at social events, asserting, “Nobody who works hard to earn money will go out and start throwing their hard-earned salary in the air.”
To combat this, Olukoyede announced that the EFCC, in partnership with the Central Bank of Nigeria (CBN), has established a Task Force on Dollarization and Naira Abuse to enforce laws against unlicensed foreign exchange dealers and currency abusers.
He dismissed arguments that the EFCC should focus solely on high-profile financial crimes, stating, “An offense is an offense. Ignorance of the law is never an excuse,” and noted that several celebrities currently facing prosecution can attest to the consequences.
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