EFCC offers 5% reward to whistleblowers as crackdown on Naira abuse continues - NEWS FRONTIER DAILY


Monday, June 3, 2024

EFCC offers 5% reward to whistleblowers as crackdown on Naira abuse continues

In a bid to further strengthen its crusade against the abuse of the Naira, the Economic and Financial Crimes Commission (EFCC) has announced a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders.

Dele Oyewale, the spokesman of the EFCC, made this known in Abuja, while appearing as a guest on the EFCC 97.3FM Abuja talk show. 

Oyewale emphasized the commission's commitment to enforcing the law and protecting the economy from the negative impacts of Naira abuse.

He explained that the 5% reward is aimed at encouraging whistleblowers to come forward with information that will aid in the prosecution of offenders. 

"There's a reward if you report anyone spraying the Naira. That is whistleblowing. The whistleblowing act offers 5% reward of whatever amount that is involved to whoever offers credible information that can stand the rigour of prosecution and not derived from malice and mischief," Oyewale declared.

He added that the EFCC has already secured nearly 50 convictions across the country since the inception of the task force on Naira abuse and dollarization.

The EFCC spokesman emphasized that rejecting the Naira as a legal tender is a criminal offense, and those found guilty will face the full wrath of the law. 

He noted that the commission is working tirelessly to Nairalize the economy, as the widespread use of foreign currencies is detrimental to the country's economic growth.

Oyewale said, "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.

"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 must and every transaction in Nigeria must be done in Naira.

"Our economy must be Nairalised because Naira is our legal tender. So, anything at variance with that is an abuse. It is a crime and should not be tolerated."

Oyewale also addressed the recent cases of Bobrisky and Cubana chief priest, noting that while Bobrisky pleaded guilty and was sentenced accordingly, Cubana chief priest's case is ongoing due to his not-guilty plea. 

He emphasized that the EFCC's job is to investigate and prosecute, while the court adjudicates.

His words, "The EFCC did not imprison Bobrisky. Bobrisky was imprisoned by a court of competent jurisdiction. Our job is to investigate and prosecute, but it is the court that adjudicates.

"Spraying the Naira notes affects the economy in the sense that it reduces the importance of the Naira. It diminishes the Naira to an ordinary note. It does not confer any form of respectability or strength to the Naira.

"Currency abuse has a multiplier effect. The materialistic tendencies of other Nigerians are further enhanced when they see the way the Naira notes are being thrown around. They become more conscious of the fact that they need to get money by all means."

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