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… Advises foreign missions to adopt Nigeria’s regulatory regime in fixing rates
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The Economic and Financial Crimes Commission (EFCC) has asked the government to stop foreign missions in Nigeria from charging visa and other consular services in foreign denominations.
It has also advised all embassies to adopt Nigeria’s regulatory regime in fixing the exchange rate of the cost of their services.
It said offering consular services in foreign denominations undermines Nigeria’s monetary policy and aspiration for sustainable economic development.
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.
EFCC and the brigandage that won’t stop
Diplomatic sources said yesterday that some embassies were wondering whether the EFCC’s advisory represented the position of the Federal Government.
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. Section 20(1) of the Central Bank of Nigeria Act, 2007.
