EFCC to arrest businesses that accept payment in dollar.

[Coyster]

I think the reason for the request is for investigations, but the question now be say wether binance as a top and leading cryptocurrency exchange globally will hand over their clients data to the government.

Binance no go give dem that information, this matter don spread and Binance know say plenty of their customers all over the world dey watch wetin go happen, if Binance gives the government that information, so many of their customers go lose trust in them and they could lose many of them. Binance will only give them details of a customer if dem get enough evidence to prove say that customer na criminal wey dey into money laundering or terrorism financing, but they never get proof of anything.

[Obulis]

The Economic and Financial Crimes Commission has stated that hotels, schools, and other establishments that accept payments in dollars from their customers are at risk of facing arrest.

The Chairman, EFCC, Ola Olukoyede, said this in the agency’s publication called EFCC Alert on Monday, adding that action would be taken against individuals involved in the dollarisation of the economy.
According to him, the exception is if foreigners come in to transact business and the only means of transacting is their credit card and dollar but to charge local customers in dollars or other foreign currencies would no longer be allowed.
He said charging local activities and customers in dollars is against Nigeria’s constitution.

The Federal government dey serious for this fight to reduce the way people dey use dollar for we country. Them first face those mallam wey dey do Bureau de change. From there, Binance sef follow enter the wahala. All na to reduce to dollar to naira rate and e belike say the thing dey work because rate na 1100/$ for market as at today. If government fit handle this matter like this na be say them fit use this pattern follow businesses way dey accept crypto as payment. Already FG dey demand list of Nigerians way dey trade for Binance. Wetin you feel say them won use that information do?

Funny enough now them go fight weak people leave themselves (politicians) and family wey also dey spend in dollars, some wey go go events dey spray dollars.
No be bad fight Sha but make e b with integrity not political....

[iBaba]

Well I don't know what the federal government are doing but it seems whatever's strategy they arr taking it's seems to be paying off because the naira has risen against the dollar from 1900 to 1100 and if this continues it might likely appreciate more to even 800naira but my only problem is that how will they do with the cost of things that still remains the same or even tend to be more costly now because with the rate at which the naira has appreciated, we ought to see some drastic changes in the cost of things currently in the country.

I think these are some of the most important and delicate moves that the Federal Government is taking against the end in abuse of the local currency of naira we are using in the country and to also bring to an end the abuse of dollar which is an foreign currency that we are not using here domestically but internationally. And one thing that I also want EFCC to do while appreciating the efforts that they already put in is for them to also investigate seriously around the sells and purchase of crude oils from an outside the country.

It's very important that we investigate those because there are claims out there that the Oil that we are exporting out there, are being bought in Naira, whereas when we are importing, we import, buying those fuels in dollars and that has cost our naira devaluation overtime and the fall of our currency as well for us to be able to get things right, we have to maintain a well structured transaction model which must be that if we are selling our products to the international market, we are selling them in Dollar equivalents and not Naira equivalents. The currency will become stronger and gradually the naira currency can completely stand on its feet so that there's not gonna be any form of intimidation coming from any other part of the world thing.