The Economic and Financial Crimes Commission (EFCC) has convicted over 50 persons for currency racketeering and dollarisation of the Nigerian economy in 2024.

The Chairman of the Commission, Ola Olukoyede, made this known on Monday in Abuja while speaking with the Senate Committee Chairman on Anti-Corruption and Financial Crimes, Emmanuel Udende, who was on an oversight and pre-budget presentation visit with other members of the Committee to the corporate headquarters of the EFCC.

Speaking with the lawmakers, Olukoyede said currency racketeering and dollarisation were an act of economic sabotage.

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According to him, part of the economic sabotage is in the area of currency racketeering, mutilation and the dollarization of the nation’s economy, adding that there is no country in the world that does not regard its currency as a legal tender.

“We must respect the Naira. As I am talking to you now, our Special Task Force is all over the place and we have brought some sanity in the handling of the national currency.

“People are still committing the crime; I am aware of that. This year alone, we have procured over 50 convictions on it,” he said.