Over fifty people have been found guilty of currency racketeering and dollarization of the Nigerian economy in 2024, according to the Economic and Financial Crimes Commission, or EFCC.

Ola Olukoyede, the Commission’s chairman, announced this in Abuja on Monday. Meanwhile, Emmanuel Udende, the chairman of the Senate Committee on Anti-Corruption and Financial Crimes, was visiting the EFCC’s corporate headquarters with other committee members for an oversight and pre-budget presentation.

Dollarization and currency racketeering, according to Olukoyede, are acts of economic sabotage.

He asserts that money racketeering, currency mutilation, and the dollarization of the national economy are all forms of economic sabotage, and that no nation in the world does not view its currency as legal tender.

“The Naira must be respected. We have brought some sanity to the administration of the national currency, and as I speak to you, our Special Task Force is everywhere.

“I know that people are still committing the crime. We have obtained more than 50 convictions on it just this year,” he stated.