EFCC Enforces Naira-Only Policy at Foreign Embassies: Will This Strengthen Nigeria's Currency?

EFCC Enforces Naira-Only Policy at Foreign Embassies: Will This Strengthen Nigeria's Currency?

in a bold move aimed at stabilizing the Nigerian Naira, the Economic and Financial Crimes Commission (EFCC) has mandated that all transactions at foreign embassies within Nigeria be conducted exclusively in the local currency. This directive comes as the Naira has experienced a significant devaluation, plunging from around N700/$1 to N1,400/$1…

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