Sunday, April 21, 2024

EFCC ignores politicians’ taste for luxury foreign goods, blames ordinary Nigerians for naria collapse

In a tweet on Tuesday, EFCC said Nigerians devalue the naira whenever they do transactions in dollars.

• March 26, 2024
Sanwo-Olu, EFCC
Sanwo-Olu, EFCC

The Economic Financial Crimes Commission (EFCC) has blamed the declining value of the naira on Nigerians buying goods in dollars, ignoring politicians spending fortunes in foreign currencies on luxury goods. 

In a tweet on Tuesday, the anti-graft agency said Nigerians devalue the naira whenever they do transactions in dollars.

“This message is for you in particular. Any time you buy goods in dollars, you devalue the naira,” EFCC tweeted.

“On a regular, patronise the naira and make it popular. Let’s make our currency spectacular,” the anti-graft agency added.

Before this campaign, the anti-graft agency had conducted nationwide raids on Bureau De Change operators to save the declining Nigerian naira.

Some Nigerians on X berated the EFCC’s campaign, which targeted ordinary Nigerians when it should have addressed Nigerian politicians spending a fortune in hard currencies on luxury goods and services.

“Let’s start with politicians having all their money in naira before the ordinary citizens will do so,” an X user, @Treovie, said.

Another X user, @Oluwakaystone28, said, “This message should be directed to the politicians sharing dollars on election day; many Nigerians can’t afford three-square meals. Shey na dem go buy goods with dollars or those rich people. I hear say Dangote, we dey sell fuel collecting dollars?”

The EFCC’s campaign for naira comes as Nigerians grapple with economic hardships while politicians spend heavily on luxury goods and trips abroad.

President Bola Tinubu was widely criticised for wasting taxpayers’ money on a trip to Qatar with his two sons, who have no official designation or function. 

Last year, despite public outcry, each Nigerian senator splashed N160 million on the purchase of a 2023 model of the Toyota Landcruiser.

Between January 15 and 25, 2024, Mr Sanwo-Olu was spotted at a lavish birthday event in Grenada.

Aisha Achimugu, an Abuja socialite, was said to have thrown the party, with the governor reportedly spending obscene amounts on private jets, hotels and women. 

Mr Sanwo-Olu, who had previously flaunted a luxury Patek Philippe wristwatch worth £136,189, did not outright deny attending a party on the Caribbean island. Instead, his office issued a statement confined to a meeting the governor held with the prime minister of Grenada, Dickon Mitchell.

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