EFCC convicts 50 for currency racketeering and dollarisation

The chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says the commission has convicted over 50 persons for currency racketeering and dollarisation of the Nigerian economy in 2024 alone.

Olukoyede revealed this in Abuja on Monday, November 11, while the Senate Committee Chairman on Anti-Corruption and Financial Crimes, Senator Emmanuel Udendeon was on an oversight and pre-budget presentation visit with other members of the Committee to the corporate headquarters of the EFCC. The EFCC boss described currency racketeering and dollarisation as an act of economic sabotage.

“I would also like you to know that part of the economic sabotage is in the area of currency racketeering and mutilation and the dollarization of our economy. There is no country in the world that doesn’t regard its currency as a legal tender.

We must respect the Naira. As I am talking to you now, our Special Task Force is all over the place and we have brought some sanity in the handling of the national currency. People are still committing the crime, I am aware of that. This year alone, we have procured over 50 convictions on it.”