It’s not a Crime to buy in Dollars the Crime is rejecting Naira

A lot of people get this wrong. Some even panic when they hear, “You paid in dollars? That’s illegal!” But let’s set the record straight.

In Nigeria, it is not a crime for you to buy something using dollars or any other foreign currency. You and the seller can agree on any medium of exchange you both like even barter (yam for phone, rice for TV). The law does not jail you simply for using dollars in a private transaction.

So where is the problem?

The real offence is when a seller refuses to accept the Naira our legal tender and insists that you must pay only in dollars. That is against Section 20 of the CBN Act, which makes the Naira the only legal tender in Nigeria.

Think of it like this

If you and the seller freely agree to transact in dollars, pounds, or even gold, that’s your choice.
But if the seller says: “I don’t want your Naira, you must pay in dollars or no deal,” then the seller has crossed into illegality.

Why is this important? Because the government must protect the sovereignty of our currency. If sellers start rejecting Naira, the economy suffers. That’s why the law steps in.

So next time you hear someone shout that paying in dollars is a crime, correct them with the law:

•  Paying in dollars = not a crime.
• Rejecting Naira and forcing dollars = offence.

Knowledge protects. Don’t let half-truths confuse you.