The Economic and Financial Crimes Commission (EFCC) has intensified its campaign against the abuse of the naira by announcing a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders. This announcement was made by Dele Oyewale, the EFCC spokesman, during an appearance on the EFCC 97.3FM Abuja talk show yesterday.
Oyewale highlighted the commission’s dedication to enforcing laws that protect the economy from the detrimental effects of naira abuse. He explained that the 5% reward is intended to motivate individuals to report any instances of naira misuse that could lead to successful prosecutions.
“There’s a reward if you report anyone spraying the naira. That is whistleblowing. The whistleblowing act offers a 5% reward of whatever amount is involved to whoever provides credible information that can withstand the rigour of prosecution and is not derived from malice or mischief,” Oyewale stated.
He also noted that the EFCC has already secured nearly 50 convictions nationwide since the inception of the task force on naira abuse and dollarisation. Rejecting the naira as legal tender, he emphasized, is a criminal offence, and offenders will face severe penalties.
Oyewale reiterated the commission’s efforts to promote the use of the naira, warning that the prevalent use of foreign currencies undermines Nigeria’s economic growth. “It is a crime to reject the naira. If there’s nothing wrong with the naira—maybe it’s dirty and not mint—and you reject it; it is a crime,” he said.
“The naira is the symbol of our economy. We are a sovereign nation, with our own territorial integrity, so whatever is within the ambit of our economy and every transaction in Nigeria must be done in naira,” Oyewale concluded.
