Economy
Nigeria immigration officials arrests 45 illegal Chinese textile traders
Nigeria immigration officials have arrested 45 Chinese illegal textiles traders in Kano and plans to deport them, the city’s controller of immigration said. Nigerian law forbids foreigners from certain trades meant to be reserved for locals, including selling clothes.
“Our men arrested 45 Chinese, 11 of them are women. We carried out this exercise to salvage our economy,” Kano controller of immigration Emmanuel Ifeadi disclosed. We were directed to clear them from the market and this is going to be a continuous exercise … Those people arrested now will soon be deported.”
China’s textiles trade with Africa is an emotive issue in Nigeria. Many Nigerians blame cheap Chinese imports for the decline of local textiles mills in the past few decades although in reality chronic power shortages are at least as much to blame.
China is a major investor in Nigeria, making up some 25 per cent of Nigeria’s foreign direct investment, according to trade and investment ministry figures. It is also a growing buyer of Nigeria’s high quality crude oil. Chinese imports make up such a large portion of trade flows that the central bank put 10 per cent of its reserves into the Chinese yuan last year.
-
News20 hours agoCardoso formally receives Central Bank of the Year Award
-
Economy20 hours agoNigeria’s Digital Boom needs nuclear power partnerships for long-term success
-
Oil and Gas20 hours agoNNPC is house of thieves, fraud; Kyari must be arrested dead or alive to account for N210 trillion—Oshiomhole
-
Oil and Gas20 hours agoDangote Refinery seeks $1bn private placement ahead of planned listing
-
Uncategorized20 hours ago
June 12 Democracy Day declaration not enough, as citizens wallow in pain – ActionAid, FG declares Friday public holiday
-
News20 hours agoMiddle East Conflict sends global growth to lowest rate since COVID-19, WBG to Provide up to $100bn for Affected countries over 15 Months—WBG
-
News20 hours agoHigh cost of cooking gas‘ll negatively impact environment, health, CPPE warns

You must be logged in to post a comment Login