"The EFCC Has Joined This Movement" – Scott Iguma Calls for Petitions Against Companies Charging in Dollars

Nigerian entrepreneur and activist, Scott Iguma, has made a bold call to action for Nigerians to take a stand against businesses charging for goods and services in foreign currencies, particularly US dollars.

In a recent statement that has stirred significant conversation on social media, Iguma announced that the Economic and Financial Crimes Commission (EFCC) has joined his movement aimed at tackling the issue.

“The EFCC has joined this movement. Send petitions to the EFCC against any company charging in Dollars. Nigerians, let’s take back our country,” Iguma wrote, urging Nigerians to hold businesses accountable for the practice of charging in foreign currency despite operating within Nigeria.

Iguma’s statement comes amid growing concerns over the increasing number of businesses, both large and small, that have adopted the use of dollars as a preferred mode of transaction in the country. This has sparked frustration among many Nigerians who believe the practice exacerbates the already precarious state of the economy and undermines the value of the Nigerian Naira.

The activist’s call for petitions to the EFCC aims to address what he describes as a "blatant disregard for Nigeria’s sovereignty and economic health." He believes that companies that charge in foreign currencies are contributing to the depreciation of the Naira and further alienating Nigerians from accessing essential goods and services at reasonable rates.

The EFCC’s involvement in the movement has raised eyebrows, as the commission is primarily known for investigating financial crimes, including fraud, corruption, and money laundering. However, Iguma’s initiative aligns with the commission's broader mandate of promoting economic stability and combating actions that undermine Nigeria's financial system.

In response to Iguma’s call, many Nigerians have expressed their support, rallying behind the idea of challenging businesses that exploit foreign currency exchange rates for local transactions. On social media, users have shared their experiences of being charged in dollars by various businesses, including those in the hospitality, retail, and entertainment sectors.

Some industry experts, however, have argued that businesses charging in dollars are doing so to protect themselves from the volatile exchange rate of the Naira. They contend that the constant fluctuations in the Naira’s value make it difficult for businesses to price their products and services accurately in local currency.

Despite the differing opinions, Iguma’s movement is gaining traction, with many calling for government intervention and stricter regulations on foreign currency transactions. As Nigerians continue to deal with the economic impact of inflation and devaluation, this movement represents a significant push for change in how businesses conduct transactions in the country.

The EFCC has yet to publicly comment on its involvement in the movement, but with Iguma's growing influence and the support of many Nigerians, this call to action may spark further discussions about Nigeria's economic policies and the use of foreign currencies in domestic transactions.

As the movement gains momentum, the future of businesses charging in dollars in Nigeria remains uncertain, and Nigerians are eagerly waiting to see what action will be taken next.