Nigeria’s Economic and Financial Crimes Commission (EFCC) has recently declared a 5% incentive for individuals who come forward as whistleblowers with reliable information that leads to the successful prosecution of those involved in the misuse of the naira. Dele Oyewale, the spokesperson for the EFCC, stressed the significance of upholding the law and safeguarding the economy from adverse consequences. The commission has already achieved close to 50 convictions throughout the country in cases related to the abuse of the naira and the preference for foreign currencies. It is crucial to note that rejecting the naira as a valid form of currency is deemed a criminal offense. Therefore, the EFCC’s primary objective is to encourage the utilization of the national currency for all transactions conducted within Nigeria.
