The Lagos zonal directorate of the Economic and Financial Crimes Commission (EFCC), on Wednesday, arraigned one Precious Uzondu, on a two-count charge bordering on alleged refusal to accept the Naira notes as a legal tender. According to a statement on the commission’s X account on Tuesday, Uzondu refused to accept Naira notes, Nigeria’s official currency, as a means of payment. …

The use of the United States dollars and other foreign currencies as legal tender for domestic transactions in Nigeria is under probe, according to a Tuesday order from the House of Representatives sent to the Committee on Banking Regulation. The House of Representatives also urged the Central Bank of Nigeria to address Naira’s depreciating value in relation to the dollar …