The Economic and Financial Crimes Commission (EFCC) has put a stop to dollar transations at foreign embassies in Nigeria by issuing a directive to end all transactions in dollar.
This was as the anti-graft agency declared that the Nigerian local currency should be the only legal tender for transactions at foreign embassies in the country.
A source in the EFCC confirmed the development to Channels Television.
The source also disclosed that the commission sent an advisory to the Ministry of Foreign Affairs, stating that all transactions at foreign missions should be conducted in Naira.
The Commission explained that the directive is part of efforts to strengthen the Naira. The value of the Naira dipped from around N700/$1 to around N1,400/$1 in the last one year since the collapse of the foreign exchange windows by the President Bola Tinubu administration.