Herbert Wigwe risks jail term as EFCC raises special task force against dollarization (Photos)

The Economic and Financial Crimes Commission (EFCC) has established a Special Task Force in all its Zonal Commands for the enforcement of existing laws against currency mutilation and dollarization of the economy.

Also read: TikTok user’s creative revenge on Access bank goes viral (video)

Recall that the Access Bank boss, Herbert Wigwe, recently drew criticism from Nigerians for violating Nigerian law by charging tuition fees in dollars at his newly established private university, Wigwe University, located in Isiokpo, Rivers State, Nigeria.

According to a statement by the EFCC, the new task force, inaugurated by the Executive Chairman of the Commission, Ola Olukoyede, aims to protect the economy from abuses, leakages, and distortions that expose it to instability and disruption.

Also read: Access Bank owner allegedly violates Nigerian law as privately owned university charges US dollars

Already, the commission has made some arrests of perpetrators involved in the issuance of invoices in dollars and the mutilation of the naira in Lagos and Port Harcourt.

Additionally, the proprietors of private universities and other institutions of higher learning charging fees in dollars have been summoned by the commission.

However, while the Wigwe University tried to defend its action by claiming that the choice of selective dollar tuition fees is a strategic move aligned with the institution’s vision to attract a diverse and international student body, Freelanews noticed that while other buttons are working, the Tuition and Fees button on the university’s website is no longer clickable as at the time of publishing this report.

Before now, the College of Arts students are expected to pay $12,000 annually as tuition fees, while the College of Engineering, College of Management and Social Sciences, and College of Science and Computing charge $15,000 each.

Additional charges, according to the school are in Naira.

For example, the accommodation Fee: Luxury Single Bedroom apartment plan N1,000,000 / per session; premium one En-Suite Bedroom Plan, N3,845,000 / per session; classic 1 Plan, N3,707,000 / per session and classic 2 plan, N3,500,000 / per session.

Rtn. Victor Ojelabi

Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.