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Jigawa, NEPZA agree to revitalise state’s free trade

Published

10 months ago

August 2, 2023

Jigawa State Government and the Nigeria Export Processing Zones Authority (NEPZA) have agreed to revitalise the state’s Maigatari Export Processing Zone.

The duo agreed when the Jigawa State Governor, Umar Namadi, visited the Managing Director of NEPZA, Prof. Adesoji Adesugba on Wednesday in Abuja.
According to the Namadi, the Free Trade Zone(FTZ) has numerous potentials and benefits to the people and the country at large and needs to be made operational.

The governor said:“We felt that we have a free zone that has been lying fallow for some years and we need to bring it into operation.

“And the best place we should start this process is NEPZA, so we made contacts and the managing director agreed to see us in such short notice.

“We came here to solicit for their expert advice on how we can bring our free zone into operation and to solicit for the MD’s support in terms of licences and registration fees.

“We know that we are owing the authority and we feel that he (Adesugba) should be able to allow us some leverage so we can stagger the payment and resume operations.”

According to Namadi, the free zone has a lot of potentials and it is going to contribute to the economic development of this country.

“In addition to giving lots of opportunities to our youths to get employed among other things.

“So because of that, it is necessary that we put it into operation, and you cannot do that without consulting experts and I think NEPZA is the best place to come.

“And that is why we are here. We are happy with the discussions we had with the MD and the fact that he is so committed to make the free zone work. So we think the visit is fruitful,” Namadi said.

On time frame, the governor expressed optimism that before the end of 2023 the FTZ should come into operation as everything necessary to make it work was available.

On security, Namadi said:“Jigawa is so far the safest state in Nigeria but we are also security conscious and making sure that investors and the state is well secured.

Responding, the NEPZA boss expressed the committment of the Authority to support the state and all other states willing to drive trade and develop the country’s economy.

Adesugba said:“We have been trying to work with the state to activate that free zone because we see it as a critical infrastructure that could do a lot for that part of the country.

“So we cannot say more than we are happy and we are going to work straight away on our first meeting to determine and structure the way forward.

“The governor has given us ultimatum that before the end of this year we should make it work but you know of course that we have a track record.

“We have done it for Kano, Calabar free zone and we are confident that with the kind of Governor we have, working with NEPZA we will definitely deliver this reactivation programme within the shortest period of time. “

Some of the issues which the duo planned on discussing includes revitalisation of the zone’s infrastructure facilities and hibiscus sorting, grading and packaging.

Other areas are bulk breaking centres and warehousing facilities, payment of outstanding operational licence fees from 2017 to date and formation of steering committee to bring up recommendations within five weeks.

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EFCC bars dollar transactions, orders embassies to charge in naira

Published

4 days ago

May 11, 2024

Desmond Ukafor

The Economic and Financial Crimes Commission has barred foreign missions based in Nigeria from transacting in foreign currencies and mandated them to use Naira in their financial businesses.

The EFCC has also mandated Nigerian foreign missions domiciled abroad to accept Naira in their financial businesses.

The anti-graft agency said the move is to tackle the dollarisation of the Nigerian economy and the degradation of the naira

The Commission, therefore, asked the government to stop foreign missions in Nigeria from charging visa and other consular services in foreign denominations.

The EFCC gave the advisory in a letter to the Minister of Foreign Affairs, Amb. Yusuf Tuggar, for onward transmission to all foreign missions in the country.

In the letter, the EFCC said it issued the advisory because the practice of paying for consular services in dollars was in conflict with extant laws and financial regulations in Nigeria.

In a letter dated April 5, 2024, which was addressed to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, titled: “EFCC Advisory to Foreign Missions against Invoicing in US Dollar,” the EFCC Chairman, Ola Olukoyede expressed dismay over the invoicing of consular services in Nigeria by foreign missions in dollars.

The EFCC cited 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.

The letter read, “I present to you the compliments of the Economic and Financial Crimes Commission, 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 United States dollar ($).

“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 further stated that the rejection of the naira for consular services in Nigeria by certain missions, along with non-compliance with foreign exchange regulations in determining service costs, is not just unlawful but also undermines the nation’s sovereignty embodied in its official currency.

The letter continues: “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 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.”

Diplomatic sources said yesterday, May 10, that some embassies were wondering whether the EFCC’s advisory represented the position of the Federal Government.

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Prince Harry visits sick Nigerian soldiers in Kaduna

Published

4 days ago

May 11, 2024

Alero Danjuma

Prince Harry and his team visited the 44 Nigerian Army Reference Hospital in Kaduna to interact with wounded soldiers who are receiving treatment.

The Duke of Sussex is in Nigeria with his wife to champion the Invictus Games, which Harry founded to aid the rehabilitation of wounded and sick servicemembers and veterans.

Nigeria joined the Invictus Community of Nations in 2022 becoming the first African country to join.

Prince Harry’s visit to Kaduna came 68 years after his late grandmother Queen Elizabeth II visited the state during the time of the late Premier of Northern Region Sir Ahmadu Bello.