Confirming the development, a source within the EFCC revealed that the commission forwarded an advisory to the Ministry of Foreign Affairs, outlining the requirement for transactions at foreign missions to be conducted exclusively in Naira. This decision, according to the EFCC, aims to bolster the strength of the Naira amid recent fluctuations in its value.
The Naira has experienced significant depreciation, plummeting from approximately N700 to N1,400 per US dollar over the past year following the collapse of foreign exchange windows under the administration of President Bola Tinubu.
In a related development, the EFCC has urged compliance officers of banks in Nigeria to refrain from disclosing the agency's investigative activities to their clients. EFCC Chairman, Ola Olukoyede, emphasized the importance of maintaining confidentiality during a stakeholders' meeting with Compliance Officers of Banks in Oyo State.
Expressing concern over the practice of divulging information about EFCC's investigative letters to clients, Olukoyede stressed that such actions undermine the integrity of investigations into financial crimes and hinder the timely prosecution of corruption cases.
The EFCC's efforts to reinforce the Naira's stability and safeguard the integrity of its investigative processes underscore the agency's commitment to combating financial misconduct and promoting transparency within Nigeria's financial sector.
0 Comments