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Just IN : Naira – for-Visa : Foreign Affairs Minister Yusuf, Directs all Embassies to comply with EFCC’s directive
Commission says some missions use N1,900 to dollar exchange rate
Demands banks’ response to enquiries within 24 hours
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 The Nation that the Minister of Foreign Affairs asked all foreign missions to implement the EFCC advisory.
EFCC urges embassies not to charge visa, other services in dollar
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.
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Taiwan in the Crossfire of History, Law, and Power: A Feature Analysis of Competing Claims and the One-China Question
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By Michael Olukayode
The status of Taiwan remains one of the most enduring and strategically sensitive disputes in modern international relations — a question where history, law, identity, and geopolitics collide without easy resolution. It is not merely a territorial disagreement between Beijing and Taipei; it is a layered contest over legitimacy, sovereignty, and the meaning of statehood in a shifting global order.
Across recent scholarly salons and policy interventions in Africa and beyond — particularly the Abuja media salon hosted by the China General Chamber of Commerce in Nigeria — a striking convergence has emerged around the One-China Principle, even as interpretations of its implications remain sharply contested.
The Historical Fault Line: 1949 and the Birth of Two Political Realities
The modern Taiwan question originates in the Chinese Civil War, which ended in 1949 with the Communist Party of China establishing the People’s Republic of China on the mainland while the defeated Kuomintang (KMT) government retreated to Taiwan.
As Professor Sheriff Ghali Ibrahim forcefully stated at the Abuja salon:
“Taiwan is not a sovereign entity, it has no independence and it is not a member of the United Nations.”
From Beijing’s perspective, this was not the creation of two states but the continuation of one China under different administrations.
This position aligns with the broader Chinese narrative repeatedly emphasized in diplomatic discourse, including the categorical assertion that:
“Taiwan has never been a country, was never one in the past, and will never be one in the future.”
Taiwan, however, evolved in a very different direction. Over decades, it developed into a functioning democratic polity with its own political institutions, elections, military structure, and constitutional governance.
This divergence produces what scholars describe as a central paradox: a de facto state operating with constrained de jure recognition, facing a sovereign claim from a rising global power.
The Legal Architecture: UN Resolution 2758 and Competing Interpretations
A cornerstone of Beijing’s argument is United Nations General Assembly Resolution 2758, which restored China’s seat at the United Nations in 1971.
At the Abuja salon, Professor Sheriff Ghali Ibrahim insisted:
“This resolution has explicitly established… that there is only one seat for China in the United Nations, leaving no room for ‘two Chinas’ or ‘one China, one Taiwan’.”
From this perspective, Taiwan is not a separate subject of international law but part of China whose representation is subsumed under Beijing.
Taiwan and its supporters contest this interpretation, arguing that Resolution 2758 addresses representation — not sovereignty — leaving Taiwan’s political status deliberately unresolved.
This legal ambiguity has become what many scholars now describe as structured uncertainty, sustaining diplomatic flexibility while preventing formal resolution.
Beijing’s Position: Sovereignty, Reunification, and Historical Mission
China’s position is rooted in sovereignty, territorial integrity, and national rejuvenation.
As reiterated by President Xi Jinping:
“The great tide of compatriots on both sides of the strait becoming closer, more connected and coming together will not change. This is the verdict of history.”
In Chinese official discourse, reunification is not framed as a negotiable issue but as a historical inevitability tied to national revival.
This perspective was reinforced in Abuja by African analysts who align with Beijing’s framing of sovereignty as non-negotiable, with Professor Sheriff Ghali Ibrahim emphasizing that Africa’s diplomatic alignment reflects a global consensus increasingly anchored in the One-China Principle.
Taiwan’s Position: Democracy, Identity, and De Facto Sovereignty
Taiwan’s position rests on lived political reality and democratic self-governance.
While officially still called the Republic of China, Taiwan functions as an independent political system with its own elections, judiciary, military, and constitution.
Its leadership under President Lai Ching-te emphasizes Taiwan’s distinct political identity and rejects Beijing’s sovereignty claims.
From Beijing’s perspective, this is framed as separatism. From Taiwan’s perspective, it is democratic self-determination.
The result is a deeply entrenched ideological divide: territorial integrity versus political identity.
Strategic Ambiguity and Global Power Politics
A critical dimension of the Taiwan issue is the role of external powers, particularly the United States.
Washington’s policy of strategic ambiguity — recognizing the One-China framework while maintaining unofficial relations with Taiwan — is widely seen as both stabilizing and contradictory.
At the Abuja salon, Prof. Sheriff Ghali Ibrahim and other speakers framed external engagement with Taiwan as part of what they described as “separatist encouragement,” while emphasizing African alignment with Beijing’s position.
Africa’s Diplomatic Alignment and the One-China Consensus
A recurring theme in Abuja was overwhelming African diplomatic alignment with Beijing.
As multiple presenters emphasized:
“As of May 2026, 53 out of 54 African nations adhere to the One-China policy.”
The only exception remains Eswatini.
At the salon, Prof. Sheriff Ghali Ibrahim argued that this position reflects historical continuity in African diplomacy:
“African nations have consistently stood with China on issues concerning its sovereignty and territorial integrity.”
Dr. Segun Showunmi, who is an Ace Public affairs analyst and social impact expert, with experience in governance, policy and civic engagement added that this alignment is not merely political but developmental:
“That consistency created trust and in international politics, trust often translates into investment, infrastructure, and strategic cooperation.”
The Abuja Diplomatic Intervention: China’s Official Position
A defining moment of the salon came from the representative of the Chinese state — the Counsellor of the Embassy of the People’s Republic of China in Nigeria, Ms.Dong Hairong— who reiterated Beijing’s formal position in unambiguous terms:
“There is only one China in the world, and Taiwan is an inalienable part of China.”
This intervention anchored the entire discussion within the framework of Chinese sovereignty doctrine and reinforced that diplomatic relations with China are premised on acceptance of the One-China Principle.
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Prof. Sam Amadi: Strategic Ambiguity as Diplomatic Reality
Professor Sam Amadi, a policy strategist and law and governance expert, Director, Abuja School of Social and Political Thoughts,
introduced a more analytical framing, arguing that global practice is defined not by clarity but by managed contradiction.
He stated:
“The One-China principle and One-China policy are clear, but difficult to operationalise.”
He further explained:
“What we have today is strategic ambiguity… meaning they acknowledge, but at the same time, they engage.”
For Amadi, the central question for Africa is not ideological but practical:
“Should we foreclose ambiguity and advance a straight One-China principle, which will exclude all kinds of trade and engagement with Taiwan?”
His conclusion favored diplomatic exclusivity with calibrated economic engagement.
Strategic Realism: Why the Status Quo Persists
Despite rhetorical intensity, the Taiwan issue persists in its unresolved form due to structural constraints:
* China cannot accept formal separation without undermining sovereignty doctrine
* Taiwan cannot accept reunification without losing political autonomy
* The United States benefits strategically from ambiguity
* African states largely align diplomatically with Beijing while prioritizing development ties
As Professor Amadi summarized:
“We acknowledge these principles, but we go back there and also deal with Taiwan in trade… using strategic ambiguity.”
Conclusion: History as Contest, Diplomacy as Equilibrium
The Abuja salon underscored a broader truth about the Taiwan question: it is not merely a territorial dispute but a global governance dilemma.
On one side stands China’s categorical assertion, echoed in Abuja:
“There is only one China.”
On the other stands Taiwan’s democratic identity and de facto autonomy.
Between them lies a global system that simultaneously enforces principle and tolerates ambiguity.
As reflected across the Abuja interventions, including those of Prof. Sheriff Ghali Ibrahim, Dr. Segun Showunmi, Prof. Sam Amadi, and the Chinese diplomatic Counsellor, the Taiwan question endures not because it lacks answers — but because every available answer carries strategic consequences the world is unwilling to fully accept.
And so Taiwan remains what it has become in the 21st century: not only a territorial dispute, but a permanent stress test of international order itself.
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Tinubu Announces $20bn FDI Inflow, Signals Growing Investor Confidence
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……..APM Terminals pledges $600m
Speaking during a panel session at the ongoing Africa CEO Forum, President Tinubu attributed the inflow to reforms aimed at improving transparency, efficiency, and investor confidence in the country.
He said his administration’s policies were positioning Nigeria as an open and competitive destination for investment.
“In Nigeria, we’ve attracted nearly $20 billion in direct investment this year because we are efficient, transparent, and open for business,” President Tinubu said.
He said that Nigeria would no longer permit the export of raw minerals without local value addition, noting that the country possesses the capacity to manufacture products such as electric vehicle batteries from its mineral resources.
He said: “With our metals, we can produce batteries for cars. The private sector brings capital and expertise, but government must de-risk and create the enabling environment. That partnership is how Africa moves forward”.
He also canvassed for stronger economic integration across the continent, urging African countries to move beyond rhetoric and fully activate the African Continental Free Trade Area (AfCFTA).
According to him, Africa needs to put its money where its mouth is and build a new relationship with its own resources.
“We have the African Continental Free Trade Area—it must not sit on the shelf. It needs to be activated properly through collaboration and effective use of resources, not by working in silos,” President Tinubu said.
He advocated an “Africa First” approach to development, insisting that African resources should primarily benefit the continent through local processing and manufacturing.
“We don’t want scavengers and extractors. We want partners who process and manufacture locally,” President Tinubu said.
Speaking on industrialisation, President Tinubu cited the success of the Dangote Refinery as proof that Africa could undertake large-scale projects with the right support framework.
According to him, Nigeria overcame years of dependence on imported petroleum products after supporting the establishment of the refinery through policy backing, credit support, and licensing approvals.
He said: “Today Nigeria is a net exporter of PMS, aviation fuel, and other products. Dangote is supplying aviation fuel across Africa and to European airlines”.
He also called for reforms to intra-African trade and financial systems, questioning the continent’s reliance on foreign currencies for trade transactions.
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“If you produce in Nigeria, you can trade in naira. Why should African trade depend on dollars? That adds cost and instability,” President Tinubu said.
He proposed the establishment of an African commodity exchange platform that would enable direct trade among the continent’s 54 countries.
On the issue of mobilising African capital for development, President Tinubu said governments must create stable legal and policy environments capable of attracting long-term investment.
He said: “Capital is cowardly. It needs transparency, accountability, and stability”.
He also advocated the creation of an African credit rating agency, arguing that existing global rating institutions do not adequately understand African markets and risks.
“The big American agencies dominate 95 per cent of the market, but they don’t understand our risks and opportunities,” President Tinubu said.
He noted that in addressing Africa’s digital infrastructure deficit, Nigeria is laying 19,000 kilometres of fibre optic cables nationwide to expand connectivity and support the digital economy.
“That’s how we bring lessons to children, connect families, and enable traders,” President Tinubu said.
He added that Africa must invest beyond basic telecommunications and build full digital infrastructure systems, including data processing, storage, artificial intelligence, and e-commerce capabilities.
He said: “We need to fund Africa’s shift from basic telecoms to AI and e-commerce”.
He further expressed optimism that the AfCFTA would eventually boost intra-African trade, despite political and structural barriers currently slowing integration efforts.
He said: “Pan-Africanism can’t remain a slogan. It has to be lived”.
He also urged African leaders to strengthen regional alliances and economic cooperation in response to global economic shocks and geopolitical uncertainties.
“If Europe can build alliances and move forward, so can we. Africa has everything we need here. What we require is good policy and the will to act.
“We don’t want our children dying at sea trying to reach elsewhere. We have the resources. We just need to help each other and push together. That is the only way to build an inclusive and prosperous Africa,” President Tinubu said
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Obasa Saga : Desmond Elliot Nearly Ruined My Chief of Staff Appointment — Gbajabiamila Reveals
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Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, has disclosed that he almost lost his position last year due to the alleged involvement of actor-turned-politician Desmond Elliot in the political crisis that rocked the Lagos State House of Assembly during the speakership tussle involving Mudashiru Obasa.
Speaking in a video widely circulating on social media on Thursday, Gbajabiamila narrated how Tinubu summoned him to his residence in Abuja at the height of the Obasa impeachment saga.
According to the CoS, the president confronted him over intelligence reports linking Elliot, who represents Surulere Constituency I in the Lagos State House of Assembly, to efforts to destabilise the state legislature.
“I almost lost my job as Chief of Staff last year because of Desmond Elliot. Mr. President called me to his house in Abuja during the Lagos Speaker Obasa saga. He said, ‘I hear this Desmond is your boy, the one we gave you,’ and I said, ‘Yes, sir.’ He is one of the people causing problems in the Lagos House of Assembly,” Gbajabiamila stated.
Gbajabiamila further revealed that he had to defend Elliot against the allegations.
“Immediately I said to Mr. President, no, no, no. Desmond is not part of them.
“I haven’t even spoken to him. I didn’t know whether he was part of that. I said, no, he’s not part of them.”
According to him, Tinubu said, “I’m telling you from intelligence that he is part of them. Go and tell him to retrace his steps. This is what Mr. President told me. I said, yes, sir.”
He said he called the lawmaker to inform him of the development.
“I called him. That’s what I told him. Just like the President, this is what he said.
“If you are one of these people, if you are part of them, get out of there.”
He added that the Director-General of the Department of State Services also contacted him regarding his and Elliot’s alleged involvement.
“Three days later, the Director General of DSS called me and said there’s a problem. Your name is being mentioned all over the place.
“That you are the one behind, you are supporting Desmond in this event. Of course, the President will not believe that Desmond would do such a thing and I will not know what it sounds like.
“I told the DSS, I’m going to have to talk to Desmond.”
“I told him, I’m going to have to talk to Desmond. He has not done anything. I called him again.”
The Chief of Staff said he asked Elliot to issue a statement vindicating himself of the allegation, which he allegedly did not till date.
The Obasa impeachment saga erupted on January 13, 2025, when a majority of the Lagos State House of Assembly impeached the long-serving Speaker while he was vacationing in the United States.
Lawmakers accused him of gross misconduct, abuse of office, high-handedness, poor leadership, persistent lateness to sessions, and alleged financial impropriety/mismanagement of Assembly funds.
His deputy, Mojisola Meranda, was immediately elected as the new Speaker, becoming the first female to occupy the position.
Obasa rejected the impeachment as illegal and unconstitutional, insisting due process was not followed.
The crisis triggered weeks of tension, court cases, parallel claims to leadership, and interventions by APC national leaders and Tinubu.
It was eventually resolved when Meranda resigned, paving the way for Obasa’s reinstatement as Speaker.
The incident comes amid growing resistance to the lawmaker’s bid for a fourth term in the Lagos State House of Assembly.
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