The Economic and Financial Crimes Commission (EFCC) has urged the Nigerian government to prohibit foreign missions in the country from charging visa and other consular services in foreign currencies.
The EFCC has further advised all embassies to align with Nigeria’s regulatory framework by pegging the cost of their services to the local currency exchange rate.
It contends that offering consular services in foreign currencies undermines Nigeria’s monetary policies and its pursuit of sustainable economic development.
ALSO READ: EFCC nets 132 suspected fraudsters in Osun, Kwara, Cross River
This advisory was communicated in a letter addressed to the Minister of Foreign Affairs, Amb. Yusuf Tuggar, with instructions for dissemination to all foreign missions operating in Nigeria.
However, there is confusion among diplomatic circles regarding whether the EFCC’s directive reflects the official stance of the Federal Government.
In its correspondence, the EFCC cited Section 20(1) of the Central Bank of Nigeria Act, 2007, as the legal basis for its advisory.
The section prohibits transactions in foreign currencies within Nigeria, thereby highlighting the inconsistency of paying for consular services in dollars with the country’s laws and financial regulations.
CONTINUING efforts to fulfil its mandate through strategic collaborations, the National Troupe of Nigeria (NTN)…
A few days ago, the Federal Inland Revenue Service (FIRS) ordered all banks in the…
A group christened 'Lawyers for the Cause of Bauchi (LAWBA)' has decried the "selective, partial…
A group known as 'Forum of Ayatutu Professors' in Benue State on Saturday called for…
"Government and journalists are partners in progress particularly in a democratic dispensation. We understand that…
"Your work aligns clearly with our policy, and it also reflects leadership and foresight. You…
This website uses cookies.