In a bid to further strengthen its crusade against the abuse of the naira, the Economic and Financial Crimes Commission, EFCC, has announced a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders.

Dele Oyewale, spokesman of the EFCC, disclosed this as guest on the EFCC 97.3FM Abuja talk show yesterday.

Oyewale emphasized the commission's commitment to enforcing the law and protecting the economy from the negative impacts of naira abuse.

He explained that the 5% reward was aimed at encouraging whistleblowers to come forward with information that would aid in the prosecution of offenders.

"There's a reward if you report anyone spraying the Naira. That is whistleblowing. The whistleblowing act offers 5% reward of whatever amount that is involved to whoever offers credible information that can stand the rigour of prosecution and not derived from malice and mischief," Oyewale declared.

He added that the EFCC had already secured nearly 50 convictions across the country since the inception of the task force on naira abuse and dollarisation.

The EFCC spokesman emphasized that rejecting the naira as a legal tender was a criminal offence, adding that those found guilty would face the full wrath of the law.

While noting that the commission was working tirelessly to nairalise the economy, as the widespread use of foreign currencies was detrimental to the country's economic growth,

Oyewale said: "It is a crime to reject the naira. If there's nothing wrong with the naira, maybe it's dirty and not mint, and you reject it; it is a crime.

"The naira is the symbol of our economy. We are a sovereign nation, with our own territorial integrity, so, whatever is within the ambit of our economy and every transaction in Nigeria must be done in naira."