Former President of Nigeria, Chief Olusegun Obasanjo, has insisted that he is no longer involved in partisan politics.
According to him, the Peoples Democratic Party (PDP) is now his former party, as he is no longer participating in party politics.
Obasanjo made the declaration on Sunday in Osun State during the commissioning of the VIP lodge at the government house in Osogbo.
He, however, commended the state governor, Ademola Adeleke, for working towards the unity of the PDP and its members in Osun State.
According to the former President, uniting members is good for the party, the state and the country as a whole.
“What I have heard and saw since three days ago that I have been here, if there is doubt in anybody that you are working, tell the person to come and see. If you remember that at one time I phoned you, I said don’t hate dancing but as you are dancing, ensure you are working.
“If I say that I don’t know what happened before you got to government, it is a lie. But you did something last week Sunday, by calling leaders of your party, it was my party but am not participating in party politics again. I am happy that you called them for deliberation. Senator Olu Alabi is here, Alhaji Fatai Akinbade, former Governor Olagunsoye Oyinlola.
We should bring everyone on board. I have talked to two out of three of them, it is a good move which is not only good for the party but for the state and the country,” Obasanjo said.
[NaijaNews]
Members of the organised labour, on Sunday night announced that they would shut down offices of the Nigerian Electricity Regulatory Commission (NERC) and Distribution Companies nationwide.
They said the offices would be under lock and key until the Federal Government accedes to their request on total reversal of electricity tariff hike.
The Federal Government later approved a marginal slash, which labour rejected and demanded full reversal.
Both Nigeria Labour Congress (NLC) and its counterpart from the Trade Union Congress (TUC) had last week warned the commission to immediately reverse the hike on or before Sunday, May 12.
The movement also warned the commission to announce the stoppage of what it described as “discriminatory practice” of segregating electricity consumers into arbitrary bands.
Giving an update on Sunday night, the head of information at NLC headquarters, Benson Upah, in an official notification sent to journalists, said members of the movement would converge on Labour House by 7:00am.
“NLC invites you to cover the picketing of the Nigerian Electricity Regulatory Commission headquarters in Abuja,” Benson said in the official notification sent to our correspondent last night.
[DailyTrust]
…Obasanjo, Adeleke, Oyinlola commission presidential lodge in Osun
Former president of Nigeria, Olusegun Obasanjo has said despite that Nigeria is a complex country it is not too difficult to govern.
Obasanjo while commissioning presidential lodge inside Osun state Government House, Oke-Fia, Osogbo alongside Governor Ademola Adeleke and former governor, Prince Olagunsoye Oyinlola on Sunday, May 12, noted that governance is easy when leaders are honest with their conscience.
He said: “With my experience, Nigeria is a complex country but Nigeria is not a difficult country to rule, maybe one can also say the same that Osun state is a complex state but Osun State is not a difficult state to rule.
“You have to be honest with your conscience, with the people and with your God. You have to be a man of character and attributes that everybody will see that Ademola Adeleke, when he sees opportunity to dance, he would dance but is a man of integrity, honesty and hardwork, it is very important! When light comes, darkness vanishes.”
He also declared that Adeleke is his dancing partner any day because he has proven to the world that he is happy and also very hardworking governor.
He advised Adeleke that, “You are working on roads, don’t joke with it because when we make necessary provision for the people to have jobs and they will work. Many Yoruba people want to work but what is impeding that is the road to ply. When we provide wherewithal for them they would work. I will plead with you to continue with that.”
Earlier, Adeleke explained that the VIP lodge was abandoned after the administration of Rauf Aregbesola who left it at 35 percent completion.
“However, work commenced on the project three months ago and now it is completed. This lodge can accommodate 5 dignitaries with their team conveniently at a time.”
[TheNation]
A human rights lawyer Femi Falana, SAN said Governor Siminalayi Fubara can not change the sitting venue of the Rivers State House of Assembly.
Falana stated this in an interview on Channels Television’s Sunday Politics.
He said Governor Fubara does not have the power to direct the members of Rivers State assembly to meet at the Government House.
The senior lawyer said the legislature is independent of the executive arm of the government.
He said, “I would like to assume that the governor issued that executive order before the intervention of the High Court in Rivers State.
“The house is independent of the executive. So the governor cannot tell the house where to sit,” he added.
Meanwhile, the Presidency said President Bola Tinubu will not take sides between Minister of Federal Capital Territory, FCT, Nyesom Wike and Governor Siminalayi Fubara over the ongoing political crisis rocking Rivers State.
Special Adviser on Media and Publicity to President Tinubu, Ajuri Ngelale disclosed this during an interview on TVC.
Ngelale said that anyone with the belief that President Tinubu would take their side in the political crisis would be disappointed.
According to him, President Tinubu won’t allow any attempt to frustrate the Rivers government.
He said, “I believe that anyone who believes that by their actions, whether it’s from the Federal level, State level or the legislative branch in the State or the executive branch in the state;
“…if they are banking on Mr. President to take sides on this matter, they’re mistaking and they’ll be disappointed,” he added.
The President Special Adviser further stated, “Mr. President will not do that. What he will do is to ensure that everybody has what they need in order to work.
“He will also ensure that any attempt to frustrate the operation of the Rivers State Government of conducting its affairs in a way that it would benefit the Rivers people, that’s obviously not going to be allowed by this President or anybody else.
“So, I think there’s a need for all stakeholders to understand that Mr President won’t take sides.”
[Vanguard]
Taiwo Oyedele, chairman of the presidential fiscal policy and tax reforms committee, says the federal government is working on a system that will provide tax relief to 95 percent of the informal sector.
Oyedele spoke at the closing session of the committee in Abuja on Sunday.
Oyedele said the plan is to exempt businesses earning N25 million a year or less, from the various taxes hindering their progress over time.
‘’So, we think that 95 percent of the informal sector should be legally exempted from all taxes; withholding tax, company income tax, even payee on their staff,” he said.
‘’We’re using data to inform our decisions. Currently, if you earn N25 million a year or less, you don’t have to pay company income tax, you don’t have to worry about VAT.
‘’We think that the informal sector are people who are trying to earn legitimate living, we should allow them to be and support them to grow to a point where they can then have the ability to pay taxes.”
Oyedele said the new reforms being proposed would focus on the top 5 percent of that sector, the middle class, and the elite for taxes.
The tax expert said the committee is drafting the laws to effect the necessary changes in the fiscal policy and tax reform ecosystem of the country.
The new laws, he said, would ensure that reviews become sustained by all governments coming in, adding that “we don’t want this whole effort to go down the drain, after one or two years”.
‘DAYS OF BEING ABOVE THE LAW IS OVER’
On compliance, the committee chairman urged
all stakeholders to fully cooperate with the government in implementing a new fiscal and tax policy that would be used for the general good of the citizens.
“We think that the days of being above the law in paying taxes are over. The same thing we’re saying to our leaders, whether they are elected or appointed,” he said.
“We think they have to lead by example by showing that they have paid the taxes, not only on time, but correctly to the lawful authorities as contained in the various laws.”
Oyedele said some of the taxes complained about by Nigerians are those already in the constitution, which the committee has looked at and called for their review.
He said the committee report would be made to pass through the normal process of legislation in order to give it the full legal backing.
“So, our expectation is, as we progress now from ideation, proposal to implementation, you’ll see less and less of those issues and then you’ll see harmony in the direction of the fiscal system,” he said.
‘’Not only in the number of taxes we collect, you will also see an improvement in how those monies are being spent.
Oyedele added that the committee has been working with the sub-nationals and the local government councils in its task of harmonising the taxes into a single-digit system.
“So, we’re convinced, and that’s what the data tells us, that the right path we need to follow is the path where we repeal many of these taxes, harmonise whatever is left,” he said.
“We think we can keep that within single digits across local, state and federal governments combined, and then improve the efficiency of collecting those taxes.
The tax expert said he is convinced that Nigeria needs to increase the threshold of exemption for small businesses, for low income earners “because if they cannot make ends meet, the last thing you want is someone asking you to pay tax”.
[TheCable]
![[STATE HOUSE PRESS RELEASE] President Tinubu Congratulates Justice Mary Odili on Birthday](/media/k2/items/cache/92b121965d7c0f34ae038aba14f724dd_M.jpg?t=20240513_022955)
President Bola Tinubu extends his heartfelt congratulations to Justice Mary Odili, CFR, retired Supreme Court judge, on the special occasion of her birthday.
Justice Odili, an eminent jurist, was the Deputy Chairman of the National Judicial Council (NJC), serving as Deputy to the Chairman (Chief Justice of the Federation) at the nation's apex judicial commission.
She was also President of the National Association of Women Judges of Nigeria (NAWJN), and Chairperson of the Body of Benchers, where she led pioneering reforms, such as retooling the Legal Practitioners Disciplinary Committee by constituting three panels, thus expediting their processes and ensuring efficiency, and reviving the Body of Benchers' mentoring programme for all young lawyers (0-7 years post call), among others.
President Tinubu celebrates the legal savant not only for her outstanding achievements in her calling but especially for her work in uplifting the downtrodden and providing succour to the needy.
The President fondly recalls the many community development programmes and relief efforts of Mrs. Odili as the First Lady of Rivers State, some of which include, The Adolescent Project (TAP) where education, health improvement, social rehabilitation, and empowerment services to vulnerable adolescent girls were advanced, directly impacting over 500,000 citizens, and which went on to win the Global Health Council Award for Safe Motherhood in Washington D.C, in May 2001.
As Justice Odili marks this birthday, President Tinubu wishes the esteemed jurist and the Odilis many more years of service to the nation in good health.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
The Minister of Budget and Economic Planning, Atiku Bagudu, has absolved President Bola Tinubu of any blame in the scenario which played out over the failure of the National Assembly to confirm former Kaduna State Governor as a Minister.
Speaking during an interview with Premium Times, Bagudu submitted that Tinubu played his role by nominating El-Rufai for appointment, but going ahead to lobby the National Assembly after the former Governor was rejected, would be an abuse of power and lack of respect for the separation of power between the executive and the legislative arms of government.
The Minister added that President Tinubu was constitutionally handicapped and had to respect the decision of the lawmakers not to confirm El-rufai.
Naija News recalls that President Tinubu nominated El-Rufai for a ministerial appointment, but the National Assembly failed to confirm him after screening, citing a lack of security clearance.
El-Rufai later withdrew his interest in working for the Tinubu government.
“Constitutional democracy is based on separation of powers. The Senate has been given a constitutional role in the confirmation process. If they decide to deny any one of us, they are approving their confirmation power.”
“The president is handicapped by our constitution to do everything. Is it fair? But that is how the laws have been set up,” he stated.
Bagudu added that the president did everything constitutionally possible to have Mr El Rufai in his cabinet.
“I wish the National Assembly had confirmed him,” the Minister said.
When asked why President Tinubu did not intervene or lobby the National Assembly to confirm El-Rufai, Bagudu said he would not want to speculate, but for Tinubu to have nominated El-Rufai, it shows he wanted him as part of his government.
“What was done objectively is that the president nominated him. We know that his name was read at the Senate. He went to the National Assembly for screening. He answered all the questions that were asked of him. Although some were stepped down.
“So that’s an objective way to look at it. That is what happened. I can’t answer speculatively, but I believe for the president to submit your name, for you at least to be taken to the National assembly, it’s the best measure of the president’s willingness and confidence in the person,” he said.
The Federal Government is poised to receive fresh loan funding from the World Bank, with approval expected for loans totalling $2.25bn on June 13, 2024.
The funding will be received via two major development projects. The first project is the Nigeria Reforms for Economic Stabilization to Enable Transformation Development Policy Financing, which is set to receive $1.5bn.
The second project, NG Accelerating Resource Mobilization Reforms Programme-for-Results, has proposed funding of $750m.
Recall that The PUNCH had indicated that the government might reintroduce previously suspended telecom tax and other fiscal measures in pursuit of securing the $750m loan.
A copy of the plan’s document posted on the World Bank website indicated that the government might reintroduce the excises on telecom services, and EMT levy on electronic money transfers through the Nigerian Banking System among other taxes.
However, the latest information suggests that the administration may have nearly guaranteed the loan.
The Minister of Finance, Wale Edun, at the spring meetings of the International Monetary Fund and the World Bank last month, had announced that the nation had qualified for processing a loan, described as ‘virtually a grant’ of $2.25bn from the World Bank at one per cent interest rate.
The package, approved by the Board of Directors of the World Bank, offers a 40-year term with a 10-year moratorium and a nominal one per cent interest rate.
He stated, “We have qualified for the processing just this week to the Board of Directors of the World Bank of a total package of $2.25bn of what you can call ‘the closest you can get to a free lunch’- virtually a grant. It’s for about 10- 20 years moratorium and about one per cent interest.”
According to programme information documents posted on the international lender website, the two projects aim to enhance Nigeria’s economic stability and resource mobilisation capabilities.
It is expected that the funds will bolster Nigeria’s efforts in reforming economic policies and enhancing government resource mobilisation, essential for the country’s long-term financial sustainability and economic resilience.
The document stated that the primary aim of the PforR programme is to boost non-oil revenues and safeguard oil and gas revenues from 2024 to 2028 at the federal level, emphasising substantial tax, excise, and administrative reforms.
The programme includes three main result areas: implementing tax and excise reforms to increase VAT collections and excise rates on health and environmentally friendly products, strengthening tax and customs administrations to enhance VAT compliance and effectiveness of audits, and safeguarding oil and gas revenues by increasing transparency and net revenue contributions.
The PforR programme includes technical assistance, supporting the Federal Inland Revenue Service and the Nigeria Customs Service to enhance taxpayer and trader compliance.
“The principal programme development objective is to raise non-oil revenues and safeguard oil and gas revenues. This result area aims to increase the transparency of NNPCL’s financial and operational performance through audits and regular production of enhanced reports submitted to FAAC, including all relevant information; and increase net oil and gas revenues transferred to the Federation,” the report read.
Also, the proposed DPF for Nigeria consists of a standalone operation with two tranches designed to support significant reforms in alignment with the government’s economic stabilization and recovery priorities.
This operation is structured around four key results distributed across two pillars: increasing fiscal oil revenues from 1.8 per cent of Gross Domestic Product in 2022 to 2.7 per cent by 2025, boosting non-oil fiscal revenues from 5.3 per cent to 7.3 per cent over the same period, expanding social safety nets to assist 67 million vulnerable Nigerians, and raising the import value of previously banned products from $11.3m to $54.6mby 2025.
The Socio-Economic Rights and Accountability Project (SERAP), BudgIT and 136 concerned Nigerians have filed a lawsuit against the Central Bank of Nigeria (CBN).
Naija News reports that the suit was filed over the CBN’s failure to withdraw the patently unlawful ‘Circular’ directing all banks and other financial institutions to deduct from customers’ account a ‘cybersecurity levy’.
Recall that the apex bank had last week directed banks to implement a levy of 0.5% (0.005) equivalent to a half percent of all electronic transactions, and to remit the levy to the ‘national cybersecurity fund.’ The CBN relied on the Cybercrime Act 2015 [as amended]. The directive is to be implemented by Monday, May 20, 2024.
In the suit number FHC/L/CS/822/2024 filed last Friday at the Federal High Court, Lagos, the Plaintiffs are asking the court to determine whether the CBN Circular directing financial institutions to deduct from customers’ accounts a cybersecurity levy is unlawful and therefore ultra vires the CBN.
The Plaintiffs are also asking the court to determine “whether the CBN Circular dated 6th May 2024, directing financial institutions to deduct from customers’ accounts a cybersecurity levy and section 44(2)(a) of the Cybercrimes Act are not in breach of sections 14(2), 44(1) and 162(1) of the Nigerian Constitution 1999 [as amended], and therefore unconstitutional, null, and void.”
The Plaintiffs are asking the court for “a declaration that the CBN Circular dated 6th May 2024 directing all banks and other financial institutions to deduct from customers’ accounts a cybersecurity levy is contrary to the provisions of the Cybercrimes Act and ultra vires the CBN, and therefore is illegal null and void.”
The Plaintiffs are seeking “an order of interim injunction restraining the CBN, its office, agents, privies, assigns, or any other persons acting on its instructions from enforcing the Circular dated 6th May 2024, pending the hearing and determination of the motion on notice filed contemporaneously in this suit.”
The suit filed on behalf of the Plaintiffs by their lawyer Ebun-Olu Adegboruwa, SAN, read in part: “The CBN Circular is unlawful and an outright violation of the provisions of the Nigerian Constitution and the country’s international obligations.
“Unless the reliefs sought are granted, the CBN will enforce its Circular directing banks to deduct from customers’ accounts a cybersecurity levy. Millions of Nigerians with active bank accounts would suffer irreparable damage from the unlawful deduction of cybersecurity levies from their accounts.
“The provisions of the Cybercrimes Act on payment of cybersecurity levy strictly apply only to businesses listed in the Second Schedule to the Act. These provisions make no reference to bank customers, contrary to the CBN Circular to all banks and other financial institutions.
“The Nigerian government has a legal responsibility to ensure the security and welfare of the people, as provided for under section 14(2)(b) of the Nigerian Constitution and human rights treaties to which Nigeria is a state party.
“The CBN Circular is also a blatant violation of Nigerians’ human rights including the right to property guaranteed under section 44 of the Nigerian Constitution and article 14 of the African Charter on Human and Peoples’ Rights to which Nigeria is a state party.
“We urge the Honourable to grant the reliefs sought in the public interest and the interest of justice as well as to prevent arbitrariness and ensure the rule of law in the country.
“Any deduction of cybersecurity levy from Nigerians’ accounts would be contrary to the provisions of section 44(2)(a) of the Cybercrimes Act 2015 as amended by the Cybercrimes Prohibition, Prevention etc) (Amendment) Act 2024 and ultra vires the CBN, and therefore illegal, null and void.
“Section 162 (1) of the Nigerian Constitution provides that all revenues collected by or on behalf of the Government of the Federation are mandatorily required to be paid into the Federation Account save the revenue excepted by the provisions of the section.
“The National Cybersecurity Fund established by section 44(1) of the Cybercrimes Act 2015 [as amended] into which it is required to be paid the levy of 0.5% chargeable on all electronic transactions instead of the Federation Account is unconstitutional, null, and void.
“The CBN Circular is a breach and misinterpretation of Sections 44(2)(a) and 58 of the Cybercrimes Act [as amended], in that it purports to incorporate customers of the bank (neither defined by the Act nor designated by the CBN as financial institutions) as those to pay the cybersecurity levy.
“The Plaintiffs are customers of commercial banks in Nigeria with accounts domiciled with many commercial banks in Nigeria. The CBN is the statutory agency charged with the overall control and administration of the monetary and financial sector policies of the Federal Government.
“The Plaintiffs are included in the statistics of Nigerians with active bank accounts as the Plaintiffs are owners of accounts in different Banks and other financial institutions.
“As of 30 April 2024, commercial banks in Nigeria already charge exorbitant fees for electronic transactions, including Electronic Transfer Charges at N53.75 on any amount above N10,000, Stamp Duty of N50 on every transaction and Account Maintenance Charge deducted per month.”
Naija News understands that no date has been fixed for the hearing of the suit.
Paul Ibe, the spokesperson of the Peoples Democratic Party (PDP) presidential candidate in the 2023 election, Atiku Abubarkar, has accused the Minister of the Federal Capital Territory (FCT), Nyesom Wike, of orchestrating Peter Obi’s move from PDP to the Labour Party (LP).
Naija News recalls that Peter Obi was the vice presidential candidate of the PDP in the 2019 presidential election but dumped the party for the LP ahead of the 2023 presidential election.
The former Governor of Anambra State later became a reckoning force in the last general election, securing over six million votes.
Since the PDP and Labour Party lost to the All Progressives Congress (APC) in the 2023 election, the leading opposition has yet to resolve its internal crisis.
In an interview with Nigerian journalist, Seun Okinbaloye, on the Mic On podcast, Paul Ibe disclosed that Atiku was ready to zone the PDP presidential ticket to the Southeast.
However, Wike frustrated the move, insisting that it must be zoned to the Southern region in general because of his personal interest, which forced Peter Obi to leave the party.
He said: “Wike had promoted the zoning of the presidency to the south. Atiku Abubakar had said that he was prepared to get himself off the ticket if the party zoned the ticket to the Southeast.
“Wike frustrated that effort because he believed that if it was zoned to the south, not the southeast, he would be in the best position to be able to get the ticket.”
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I Made A Mistake With Fubara, Will Correct It At The Appropriate Time – Wike Opens Up On Rivers State Crisis
AFOLABI
The immediate past Governor of Rivers State, Nyesom Wike has shared some fresh details about the political crisis rocking the state.
Wike, who is the current Minister of the Federal Capital Territory (FCT), submitted that he made a mistake in supporting Governor Siminalayi Fubara to emerge as his successor.
Speaking on Saturday at the grand civic reception held at Ogu-Bolo in honour of Chief George Thompson Sekibo, Wike begged for God’s forgiveness as well as the people’s forgiveness for making an error in judgment.
Speaking further, the FCT Minister vowed to correct his mistake at the right time.
Wike said: ”I want to say this clearly, in life we have made a mistake. I have made a mistake. I own it up and I say God forgive me. I have said all of you forgive me. But we will correct it at the appropriate time. I am a human, I am bound to make a mistake. So forgive me for making a wrong judgement. So nobody should kill.”
Speaking further on the current political crisis rocking Rivers State, Wike called out the camp of Governor Fubara, saying no injunctions obtained at 2am or 4am would stop the law and due process from taking its course in the state.
“If they like they can go to anybody by 2am or 4am to get injunction. The law will take its course. We must follow due process,” Wike said.
The Minister of Works, Senator David Umahi, has said he is ready to undergo a probe over the controversy surrounding the Lagos-Calabar Coastal Highway project.
He said there was nothing to hide about the project, stating that due process was followed and the necessary approvals and documentation were obtained for the project to commence.
Recall that the House of Representatives on Thursday resolved to probe the N15 trillion project and said it would set up an ad hoc committee to investigate the project and submit a report within four weeks.
The House’s resolution followed the adoption of a motion of urgent public importance moved during plenary by Austin Achado, the member representing Gwer East/Gwer West Federal Constituency of Benue State.
In a chat with The Punch, the minister said he is ready to face the House of Representatives committee set up to probe the project. Umahi added that he planned to ensure the exercise was televised live for all Nigerians to see.
The former Governor of Ebonyi State also said that former Vice President Atiku Abubakar’s claim that the loan obtained to complete the project did not follow due process was untrue.
Umahi, however, added that the matter was before the National Assembly, noting that he would not want to comment on it.
He said, “I am ready to face the National Assembly to defend the project. I will not want to say anything now until I meet with the senators and House of Reps members. It will be live, so you will also hear it. It will be live so that Nigerians will see it.”
Naija News reports that the highway project, which is a 700-kilometre turnpike infrastructure, has attracted commendation and condemnation since the Bola Tinubu administration approved it in February.
The 10-lane coastal road was designed to connect Lagos to Cross River, passing through Ogun, Ondo, Delta, Bayelsa, Rivers, and Akwa Ibom states before culminating in Calabar, the Cross River State capital.
EFCC’s Naira Directive: Foreign Minister Writes Embassies To Charge Visa Fees In Local Currency
AFOLABI
Foreign Affairs Minister Yusuf Tuggar has written all the foreign missions in the country to comply with the directive of the Economic and Financial Crimes Commission (EFCC) to charge payment for visa and consular services in naira instead of dollar.
Tuggar has already met with a few envoys who sought more clarifications on the EFCC’s advisory.
It was learnt that the EFCC advisory against dollar-denominated service was necessitated in part after some embassies adopted N1,800-N1,900 exchange rates to a dollar.
An embassy was found to have set up an account unit where visa applicants were paying cash in dollar for services outside the conventional banking system.
Some embassies are understood to have started implementing the EFCC’s advisory on naira policy for consular services.
It was gathered that the EFCC has entered into an understanding with the Central Bank of Nigeria (CBN) for prompt remittance of the funds generated by the embassies to their home countries at official rate.
In an April 5, 2024 advisory to the Foreign Affairs Minister, the EFCC Executive Chairman, Mr. Ola Olukoyede, had asked government to stop foreign missions in Nigeria from charging visa and other consular services in foreign denominations.
He also advised all embassies to adopt Nigeria’s regulatory regime in fixing the exchange rate of the cost of their services.
He said the commission has observed the violation of Section 20(1) of the Central Bank of Nigeria Act, 2007 which makes currencies issued by the apex bank the only legal tender in Nigeria.
A top source told newwmen that the Minister of Foreign Affairs asked all foreign missions to implement the EFCC advisory.
The source said: “The Federal Government has adopted the advisory of the EFCC which is backed by the CBN Act. In line with this, the Minister, Amb. Yusuf Tuggar, has formally written all embassies to charge and accept payment for visa and consular services in naira.
“In fact, the Ambassador of one of the missions collecting dollars for consular services demanded an audience with the Minister of Foreign Affairs for clarifications on the new policy. Tuggar, who met with the affected envoy, said there is no going back on the naira policy.
“But the EFCC has also reached an understanding with the CBN for the prompt remittance of all consular fees collected at the official exchange rate to the embassies or countries. The Federal Government will not default in remitting funds.”
It was gathered that the EFCC issued the advisory following discovery that some embassies had adopted N1,800 to N1,900 exchange rates for applicants for visa and consular services.
“Some embassies went beyond official and parallel market rates in fixing exchange rate for consular services. They were charging as high as N1,800 to N1,900,” one source said.
“A foreign mission was even collecting dollars in cash from visa applicants. The practice was outside the banking system.
“From feedback, some of the embassies are already charging for consular services, including visa, in naira. We will not relent in ensuring full compliance by all missions.
“There is a desk monitoring compliance with the naira-for-visa policy. Any infraction will be reported to the Federal Government through the Ministry of Foreign Affairs.”
The advisory, signed by the EFCC Executive Chairman, Mr. Ola Olukoyede, reads in part: “…I wish to notify you about the commission’s observation, with dismay, regarding the unhealthy practice by some foreign Missions to invoice consular services to Nigerians and other foreign nationals in the country in United States Dollar ($).
“This practice is an aberration and unlawful as it conflicts ‘with extant laws and financial regulations in Nigeria. Section 20(1) of the Central Bank of Nigeria Act, 2007 makes currencies issued by the apex bank the only legal tender in Nigeria.
“It states that ‘the currency notes issued by the Bank shall be the legal tender in Nigeria on their face value for the payment of any amount’.
“This presupposes that any transaction in currencies other than the naira anywhere in Nigeria contravenes the law and is therefore illegal.”
The commission added: “The refusal by some Missions to accept the Naira for consular service in Nigeria and also comply with foreign exchange regulatory regime in fixing the exchange of the cost of their services is not only illegal but represents an affront on the country’s sovereignty symbolised by the national currency. It undermines Nigeria’s monetary policy and aspiration for sustainable economic development.
“This trend can no longer be tolerated, especially in a volatile economic environment where the country’s macroeconomic policies are constantly under attack by all manner of state and non-state actors.
“In the light of the above, you may wish to convey the commission’s displeasure to all Missions in Nigeria and restate Nigeria’s desire for their operations not to conflict with extant laws and regulations in the country.
“Please accept, as always, the assurances of my highest consideration and respect.”
Attend to enquiries on money laundering, others within 24 hours, EFCC boss tasks bankers
The EFCC boss has also urged bankers to respond to the commission’s enquiries within 24 hours to aid its investigations.
“I don’t want to be charging banks alongside suspected criminals, because doing so can wreak havoc on the economy. It will even discourage investors from coming to the country,” Olukoyede said during a roundtable with compliance officers of banks in Ilorin, the Kwara State capital.
He added: “Our intention is to use the anti-corruption fight to bolster the economy. So, we must work together to save this country.”
Represented by acting Zonal Director, Ilorin Command Harry Erin, Pastor Olukoyede said: “We need to find a common ground to work together. You have a responsibility to fight corruption.”
The EFCC chair also expressed concerns over the use of fintech (private banking) by criminals to perpetuate crimes.
The anti-graft czar charged bankers to take the issue of “Know Your Customer” (KYC) and “Know Your Customer’s Business” (KYCB) seriously, as the two requirements would help to keep fraudulent customers on the radar.
Edison Ehie, Chief of Staff to Rivers Governor Siminalayi Fubara, has explained the reason behind the political crisis in the State.
According to Ehie, the issue in Rivers State started when a small group of political leaders wanted sole authority over the State’s resources.
He said this during a thanksgiving service on Saturday for the Supreme Court victory of the governor in Ahoada East Local Government Area of the state.
“The problem we have in the state is that 11 persons said they will control the resources of Rivers State. These 11 persons now called 20 others to allocate resources to themselves,” he said.
The jubilant thanksgiving, held at Western County High School Ahoada, began with a choir performance followed by a sermon, with the preacher admonishing Governor Fubara to remain dedicated to serving the people.
Ehie, spoke on behalf of Gov Fubara, warning the Governor should not be underestimated because of his age.
He said: “We are going to teach them a lesson of political arithmetic. What that small boy will do to you you’ll know that khaki no be leather.”