Economy
Nigeria High Commission in UK suspends e-Passport biometric capture
The Nigeria High Commission in London has suspended biometric capturing for persons interested in applying for the e-passport. This, however, was contained in a statement the commission issued saying the biometrics capture was suspended after a meeting to deliberate on issues surrounding assault of staff members. In its statement, the commission said that suspension is effective from March 28, 2022. The statement reads in part: “Nigerians in the United Kingdom would recall the deplorable situation of passport issuance and renewals after the lockdown and suspension of operations between December 2019 and April 2021. In order to address the issues responsible for the then anomalous situation, adequate steps were taken to address the issues of Nigerians in need of passports for urgent reasons. These critical needs sometimes build up tension and frustration which, hitherto, were responsible for multiple ugly incidents recorded in the Mission, thus exposing the entire staff to danger. Breaking of vehicle screens, knife attacks on vehicles’ tyres, assaults on staff, and general insecurity in the Mission’s premises and its surroundings, were the order of the day.
“On 28th May 2021, in conjunction with the Nigerian Community in the United Kingdom, measures were put in place to restore order. Nigerians were very cooperative and appreciative of the reforms acknowledged to be in line with best practices in the United Kingdom. The smooth operations widely acclaimed by Nigerians existed till 22nd November 2021. At the launch of Enhanced E-passport operations in London on 23rd November 2021, Nigerians in the United Kingdom were quite optimistic of improvements in service by the Immigration Section, on the issuance of Passports. However, the issuance, renewal, and operations since the introduction of the new Enhanced E-passport have been fraught with many challenges, particularly on the issuance of National Identification Number (NIN) and the appointments for biometrics capture. The Mission feels and shares in the pains of teeming Nigerians since the launching of the new Enhanced E-passport scheme in the United Kingdom by the Minister of Interior, Ogbeni Rauf Aregbesola. The staff of the High Commission are currently being assaulted on regular basis on account of attendant frustrations, particularly by Nigerians who travel long distances from Scotland, Northern Ireland, Manchester, Cardiff, Birmingham, etc to the Mission in London without positive resolution of their respective consular issues. Nigerians with dual citizenship desirable of renewing their British Passports and those seeking the issuance of British Resident Permit (BRP) are also usually on edge because of the inability of the Mission to resolve their legitimate needs and requirements.
“In view of the present precarious situation similar to the situation of the past, particularly the continuous physical and verbal assaults of the staff of the Mission, a meeting of the Nigerian Community was convened to find a solution to the challenges associated with passport issuance before it deteriorates into avoidable calamities. The meeting which took place on Tuesday, 22nd March 2022, at the Conference room of the Nigeria High Commission, London, deliberated extensively on the present challenges highlighted above. Present at the meeting were members of the Nigerian Council of Elders in the UK, comprising Pa Adebayo Oladimeji, Arc Otunba Mobolaji Falase, Dr. Boma Douglas, Chief Fred Ajiduah, in concert with the Chairman of Central Association of Nigerians in the United Kingdom (CANUK) – Mr. Ayo Akinfe, leading the Executive members of the Association. Nigeria High Commission was led to the meeting by the High Commissioner, other members included the Deputy High Commissioner, Head of Immigration, Head of Chancery, Immigration Attachés, staff of the Consular, Education and Welfare Section. While reports on telephone calls received by the Mission consistently put average call logs of 84% on the frustration associated with the Enhanced E-passport, the CANUK Chairman reported that 70% of the challenges of Nigerians from December 2021 till date centred on the frustrations now associated with the new Enhanced E-Passport.
“The meeting deliberated extensively on the current challenges associated with the issuance of passports as enumerated above and agreed that drastic actions must be taken to bring succour to Nigerians in the UK. A stitch in time saves nine. The leadership of the Nigeria High Commission remains responsive to the needs and welfare of Nigerians in the United Kingdom.
“Consequently, the biometrics capture on the new Enhanced EPassport at the Nigeria High Commission in London is hereby suspended with effect from Monday, 28th March 2022, until these challenges are resolved, in the interest of the Nigerian Community in the United Kingdom. Whilst we regret the inconveniences the suspension may cause, the Emergency Travel Certificate window and visas for British- Nigerians are available as a stop-gap measure.”
The Arab Africa Trade Bridges (AATB) Program and the Federal Republic of Nigeria formalized a partnership with the signing of the AATB Membership Agreement, officially welcoming Nigeria as the Program’s newest member country. The signing ceremony took place in Abuja on the sidelines of the 5th AATB Board of Governors Meeting, hosted by the Federal Government of Nigeria.
The Membership Agreement was signed by Eng. Adeeb Y. Al Aama, the CEO of the International Islamic Trade Finance Corporation (ITFC) and AATB Program Secretary General, and H.E. Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, Federal Republic of Nigeria. The Agreement will provide a strategic and operational framework to support Nigeria’s efforts in trade competitiveness, promote export diversification, strengthen priority value chains, and advance capacity-building efforts in line with national development priorities. Areas of collaboration will include trade promotion, agribusiness modernization, SME development, businessmen missions, trade facilitation, logistics efficiency, and digital trade readiness.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, called for deeper trade collaboration between African and Arab nations, stressing the importance of value-added Agribusiness and industrial partnerships for regional growth. Speaking in Abuja at the Agribusiness Matchmaking Forum ahead of the AATB Board of Governors Meeting, the Minister said the shifting global economy makes it essential for African and Arab nations to rely more on regional cooperation, investment and shared markets.
He highlighted projections showing Arab-Africa trade could grow by more than US$37 billion in the next three years and urged partners to prioritize value addition rather than raw commodity exports. He noted that Nigeria’s growing industrial base and upcoming National Single Window reforms will support efficiency, investment and private-sector expansion.
“This is a moment to turn opportunity into action”, he said. “By working together, we can build stronger value chains, create jobs and support prosperity across our regions”, Edun emphasized. “As African and Arab nations embark on this journey of deeper trade collaboration, the potential for growth and development is vast. With a shared vision and commitment to value-added partnerships, we can unlock new opportunities, drive economic growth, and create a brighter future for our people.”
Speaking during the event, Eng. Adeeb Y. Al Aama, Chief Executive Officer of ITFC and Secretary General of the AATB Program, stated: “We are pleased to welcome Nigeria to be part of the AATB Program. Nigeria stands as one of Africa’s most dynamic and resilient economies in Africa, with a rapidly expanding private sector and strong potential across agribusiness, energy, manufacturing, and digital industries. Through this Membership Agreement, we look forward to collaborating closely with Nigerian institutions to strengthen value chains, expand regional market access, enhance trade finance and investment opportunities, and support the country’s development priorities.”
The signing of this Agreement underscores AATB’s continued engagement with African countries and its evolving portfolio of programs supporting trade and investment. In recent years, AATB has worked on initiatives across agribusiness, textiles, logistics, digital trade, export readiness under the AfCFTA framework, and other regional initiatives such as the Common African Agro-Parks (CAAPs) Programme.
With Nigeria’s accession, the AATB Program extends it’s presence in the region and adds a key partner working toward advancing trade-led development and fostering inclusive economic growth.
Federal Executive Council (FEC) has approved the 2026–2028 Medium-Term Expenditure Framework (MTEF), a key fiscal document that outlines Nigeria’s revenue expectations, macroeconomic assumptions, and spending priorities for the next three years. The approval followed Wednesday’s FEC meeting presided over by President Bola Tinubu at the State House, Abuja. The Minister of Budget and Economic Planning, Senator Atiku Bagudu made this known after the meeting.
The Minister said the Federal Government is projecting a total revenue inflow of N34.33 trillion in 2026, including N4.98 trillion expected from government-owned enterprises. Bagudu said that the projected revenue is N6.55 trillion lower than earlier estimates, adding that federal allocations are expected to drop by about N9.4 trillion, representing a 16% decline compared to the 2025 budget.
He said that statutory transfers are expected to amount to about N3 trillion within the same fiscal year. On macroeconomic assumptions, FEC adopted an oil production benchmark of 2.6 million barrels per day (mbpd) for 2026, although a more conservative 1.8 mbpd will be used for budgeting purposes. An oil price benchmark of $64 per barrel and an exchange rate of N1,512 per dollar were also approved.
Bagudu said the exchange rate assumption reflects projections tied to economic and political developments ahead of the 2027 general elections. He said the exchange rate assumption took into account the fiscal outlook ahead of the 2027 general elections.
The minister said that all the parameters were based on macroeconomic analysis by the Budget Office and other relevant agencies. Bagudu said FEC also reviewed comments from cabinet members before approving the Medium-Term Fiscal Expenditure Ceiling (MFTEC), which sets expenditure limits. Earlier, the Senate approved the external borrowing plan of $21.5 billion presented by President Tinubu for consideration The loans, according to the Senate, were part of the MTEF and Fiscal Strategy Paper (FSP) for the 2025 budget.
The spot rate on Nigerian Treasury bills has been increased by 146 basis points by the Central Bank of Nigeria (CBN) following tight subscription levels at the main auction on Wednesday. The spot rate on Treasury bills with one-year maturity has now surpassed Nigeria’s 16.05% inflation by 145 basis points following a recent decision to keep the policy rate at 27%.
The Apex Bank came to the primary market with N700 billion Treasury bills offer size across standard tenors, including 91-day, 182-day and 364 day maturities. Details from the auction results showed that demand settled slightly above the total offers as investors began to seek higher returns on naira assets despite disinflation.
Total subscription came in at about N775 billion versus N700 billion offers floated at the main auction. The results showed rising appetite for duration as investors parked about 90% of their bids on Nigerian Treasury bills with 364 days maturity. The CBN opened N100 billion worth of 91 days bills for subscription, but the offer received underwhelming bids totalling N44.17 billion.
The CBN allotted N42.80 billion for the short-term instrument at the spot rate of 15.30%, the same as the previous auction. Total demand for 182 days Nigerian Treasury bills settled at N33.38 billion as against N150 billion that the authority pushed out for subscription. The CBN raised N30.36 billion from 182 days bills allotted to investors at the spot rate of 15.50%, the same as the previous auction.
Investors staked N697.29 billion on N450 billion in 364-day Treasury bills that was offered for subscription. The CBN raised N636.46 billion from the longest tenor at the spot rate of 17.50%, up from 16.04% at the previous auction.
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