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EFCC insists on naira, bans foreign currencies at embassies
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EFCC insists on naira, bans foreign currencies at embassies
The Economic and Financial Crimes Commission (EFCC) has directed that the Naira should be the only legal tender for transactions at foreign embassies in Nigeria.
The Commission also banned the use of dollars for business transactions and payment of other services at foreign missions in the country.
This was revealed in a letter dated April 5, 2024, addressed to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and his Ministry of Foreign Affairs.
According to the EFCC, Nigerian foreign missions abroad were also directed to accept naira in their financial businesses.
The EFCC also mentioned that the directives would help in combating the dollarization of the Nigerian economy and the depreciation of the naira.
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In the letter, the Chairman of the Commission, Ola Olukoyede, further expressed sadness over the invoicing of consular services in Nigeria by foreign missions in dollars.
Olukoyede said: “I present to you the compliments of the Economic and Financial Crimes Commission (EFCC) and 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 the United States dollar.
“This practice is an aberration and unlawful as it conflicts with existing 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.”
EFCC insists on naira, bans foreign currencies at embassies
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FCT is not Rivers State where you write election results – Deji Adeyanju tells Wike
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FCT is not Rivers State where you write election results – Deji Adeyanju tells Wike
Human rights lawyer, Deji Adeyanju, on Tuesday, said that the choice of who becomes senator in 2027 in the Federal Capital Territory (FCT) should be determined solely by residents of the FCT, and not by the Minister, Nyesom Wike.
The former governor of Rivers State had dared Senator Ireti Kingibe, who represents the FCT, stating that he would ensure she did not return to the Senate in 2027.
Meanwhile, Kingibe had earlier criticised Wike’s performance, adding that FCT residents were unimpressed as the FCT lacked essential amenities such as schools, hospitals, and potable water.
Meanwhile, Kingibe had earlier criticised Wike’s performance, adding that FCT residents were unimpressed as the FCT lacked essential amenities such as schools, hospitals, and potable water.
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Adeyanju, responding to Wike on X, said that the Minister could not decide for the people because the FCT was not Rivers State, where election results were written with guns.
The human rights lawyer said, “FCT is not Rivers, where people write results and shoot guns. Even incumbent presidents get defeated in the FCT.
“I know these folks have 100% control of INEC and other rigging mechanisms, but the arrogance is truly uncalled for.
“Nigerian politicians are like power-drunk Nigerian celebrities and pastors who can boast openly about getting the police to lock you up, and they will eventually do it,” he said.
FCT is not Rivers State where you write election results – Deji Adeyanju tells Wike
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I didn’t discuss Nnamdi Kanu’s release with South-East govs – Obasanjo
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I didn’t discuss Nnamdi Kanu’s release with South-East govs – Obasanjo
Former President Olusegun Obasanjo says his talks with the south-east governors excluded the release of Nnamdi Kanu, the detained leader of the Indigenous People of Biafra (IPOB).
On Tuesday, governors under the umbrella of the south-east governors’ forum resolved to meet with President Bola Tinubu to seek the release of Nnamdi Kanu, the detained leader of the Indigenous People of Biafra (IPOB).
Hope Uzodinma, governor of Imo and chairman of the forum, announced this the resolution at the end of a meeting of the governors held in Enugu, Obasanjo also paid a solidarity visit to the southeast governors forum in the state.
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In a statement on Wednesday, Kehinde Akinyemi, Obasanjo special assistant on media affairs, said the ex-presidentand Emeka Anyaoku, former Commonwealth secretary-general, met with south-east governors to discuss regional development.
The statement said that the meeting did not include discussions about the potential release of Nnamdi Kanu by the federal government.
“The meeting with them was at my invitation and of Chief Emeka Anyaoku before their summit begins. The issue of Nnamdi Kanu was not on the agenda and was not discussed in my presence,” the statement said.
“The regional development issues include that of security and infrastructure, economic and cooperative collaboration, which was meant to complement the national economic development agenda.
I didn’t discuss Nnamdi Kanu’s release with South-East govs – Obasanjo
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Senate okays bill for foreigners in Nigeria to obtain NIN
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Senate okays bill for foreigners in Nigeria to obtain NIN
The Senate has advanced a bill to grant all residents, including foreigners, the right to obtain and use the National Identification Number (NIN) sponsored by Deputy Senate President Barau I.
Jibrin (Kano North), the bill also aims to replace criminal penalties with administrative measures to ensure compliance without severe legal consequences.
Senator Cyril Fasuyi (Ekiti North) presented the bill’s principles, emphasizing the need to repeal the current Act and establish a new regulatory framework for the National Identity Management Commission (NIMC) to enhance its oversight and regulation of Nigeria’s ID system.
“The bill’s objectives include expanding the eligible registrants under the Nigeria ID System to achieve inclusivity and universal coverage,” Senator Fasuyi explained.
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“It allows all residents in Nigeria to obtain a National Identification Number (NIN) for official identification purposes.”
Furthermore, the bill proposes streamlined sharing of personal data with robust data protection measures to safeguard privacy and foster public trust in data handling.
It also enhances administrative enforcement powers to ensure timely compliance with ID registration requirements.
Importantly, the bill advocates for replacing criminal penalties with administrative measures for non-use of NIN, aiming to encourage compliance without burdening individuals with severe legal consequences.
After debates, the Senate proceeded to pass the bill, marking a significant step toward potential reforms in Nigeria’s identity management system.
Senate okays bill for foreigners in Nigeria to obtain NIN
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