The Economic and Financial Crimes Commission has announced a 5% reward for whistleblowers who provide credible information that leads to the prosecution of those abusing the naira. This initiative aims to strengthen efforts to combat naira abuse and protect the economy.

The spokesman for the EFCC, Dele Oyewale, revealed this information during an appearance on the EFCC 97.3FM Abuja talk show. He emphasized the commission’s dedication to enforcing the law and mitigating the negative impacts of naira abuse on the economy.

“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 stated.

He added that the EFCC has already secured nearly 50 convictions nationwide since the task force on naira abuse and dollarisation was established.

Oyewale stressed that rejecting the naira as a legal tender is a criminal offense, and those found guilty would face legal consequences. “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 explained.

He also highlighted the importance of using the naira in all transactions within Nigeria, as the widespread use of foreign currencies harms the country’s economic growth. “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 said.