Headlines
Reps investigate planned retirement of 1000 CBN staff

The House of Representatives has launched an investigation into the planned retirement of 1,000 staff of the Central Bank of Nigeria (CBN)
The resolution followed the adoption of a motion of urgent public importance by Rep. Kama Nkemkama (LP-Ebonyi) during plenary on Tuesday.
The motion is entitled, “Need to Investigate the Retirement of over 1,000 Staff of the Central Bank of Nigeria (CBN) and the Associated N50 Billion Payoff Scheme.”
It would be recalled that, a national media outlet announced on Dec. 2 that the CBN planned to retire over 1,000 members of staff across various levels.
The media report claimed that the retirement was part of restructuring process under the CBN Governor’s leadership with a N50 billion payoff scheme to compensate the affected staff.
Presenting the motion, Nkemkama stated that the sudden mass retirement of over 1,000 staff, including directors and senior management, raises critical questions.
These, according to him, include the criteria for selection, transparency, and adherence to due process in line with public service guidelines and labour laws.
He said that such a significant decision has socio-economic implications for the affected individuals, their dependants, and the broader economy.
This, he said, would potentially lead to increased unemployment and public dissatisfaction.
He expressed worry that the reported payoff scheme amounting to N50 billion might lack sufficient accountability and oversight mechanisms.
The lawmaker said that this would pose risks of mismanagement and abuse of public funds in a sector vital to Nigeria’s financial stability.
Adopting the motion, the House therefore, constituted a high-level ad hoc committee to investigate the planned mass retirement of over 1,000 staff of the CBN
The House stated that this was to ascertain the criteria, process, and legality of the exercise.
The House said that it would also examine the N50 billion payoff scheme to ensure transparency, accountability, and proper utilisation of funds.
The House also resolved to engage the leadership of the CBN to evaluate the potential economic and institutional impact of mass retirement on Nigeria’s financial sector.
The House urged the CBN to suspend further implementation of the retirement exercise and associated payoff scheme pending the outcome of its committee’s investigation.
The House further called on the Federal Ministry of Labour and Employment to ensure that the rights of the affected staff were protected in accordance with Nigerian labour laws.
The House requested the committee to report back to the house within four weeks for further legislative actions.
Headlines
China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

China has revamped its tax refund policy for foreign tourists, shifting from a refund-upon-departure model to a more convenient refund-upon-purchase system, according to the State Taxation Administration (STA).
The STA announced on Tuesday that under the new system, foreign visitors can now claim Value Added Tax (VAT) rebates instantly at designated tax-free stores. This change allows tourists to use their refunded amount immediately for additional shopping, enhancing their overall experience in China.
Previously, VAT rebates could only be withdrawn upon departure, but with the new policy, tourists will be able to access their refunds in real-time during their stay. The policy, which was initially tested in cities like Shanghai, Beijing, and Guangdong, has now passed all operational requirements and will be rolled out nationwide.
The STA emphasized its dedication to improving policy guidance and simplifying refund procedures to better serve international visitors.
Li Xuhong, Vice-President and Professor at the Beijing National Accounting Institute, welcomed the change, stating that the nationwide implementation would raise China’s tourism service standards. “It will foster a friendly, efficient, and convenient tourism environment,” Xuhong added.
Headlines
Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

Rep. Jaafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, has reiterated Nigeria’s firm commitment to the One-China Policy, following recent comments by Taiwan’s Trade Mission Head in Nigeria, Andy Yih-Ping Liu.
Speaking in Abuja on Tuesday, Yakubu firmly declared that Nigeria continues to recognize Taiwan as an integral part of the People’s Republic of China. He rejected Liu’s claim that Taiwan was not part of China, labelling it as “propaganda” aimed at undermining the strong diplomatic ties between Nigeria and China.
“For the record, United Nations General Assembly Resolution 2758, adopted in 1971, recognised the People’s Republic of China as the sole legitimate representative of all of China, including Taiwan,” Yakubu stated. “The One-China Policy remains the cornerstone of China-Nigeria relations.”
He emphasized that since Nigeria and China established diplomatic ties in 1971, the country has consistently upheld this principle. “Efforts by Taiwan’s trade office to challenge this stance are futile and will not succeed,” Yakubu added.
Yakubu criticized Liu’s comments as an attempt to draw Nigeria into China’s internal matters, accusing the Taiwanese official of deliberately sowing discord and provoking a diplomatic rift. “Nigeria’s relationship with China is built on mutual respect and non-interference in each other’s political matters,” he said.
In response to Liu’s claim that China acted as a bully, Yakubu pointed to the positive trajectory of Nigeria-China relations. “Contrary to these baseless assertions, Nigeria has enjoyed a mutually beneficial partnership with China, yielding tangible results for both nations. Since 1971, our ties have grown significantly.”
He highlighted the strategic nature of the partnership, referencing the elevation of the relationship to a Comprehensive Strategic Partnership during the 2024 FOCAC Summit in Beijing. “Today, Nigeria stands as China’s second-largest trading partner in Africa, with bilateral trade surpassing 20 billion dollars,” Yakubu noted.
Furthermore, Yakubu praised China’s role in Nigeria’s infrastructural development, with investments in sectors such as rail networks, roads, ports, power stations, and water treatment facilities.
Headlines
Shettima Warns Media Against Romanticising National Challenges

Vice President Kashim Shettima has cautioned Nigerian media practitioners against the growing tendency to romanticise serious national issues, describing the trend as a dangerous departure from the media’s constitutional duty of promoting truth and accountability.
Represented by his Special Adviser on Special Duties, Modibbo Umar, the Vice President issued the warning on Tuesday while delivering a speech at the 17th LEADERSHIP Conference and Awards held at the Old Banquet Hall of the State House, Abuja.
“We must resist the temptation to romanticise serious national issues or frame them in ways that distort public understanding,” Shettima said. “Doing so only weakens the fabric of our democracy and derails our collective efforts at nation-building.”
The Vice President’s remarks came as stakeholders in governance, business, and civil society gathered to reflect on the theme of the event, “Challenges and Opportunities in Nigeria’s Fiscal Federalism.” The conference provided a platform for thoughtful engagement on some of the country’s most pressing issues, with a focus on the responsibilities of leadership at all levels.
Shettima also used the occasion to commend LEADERSHIP Newspapers Group for its consistent contributions to national discourse and its commitment to celebrating excellence in leadership.
“I commend LEADERSHIP Newspaper for the vision to convene this vital discourse and for shining the light on those who have chosen to lead with courage and competence. May we never tire of striving for a better Nigeria,” he said.
The annual LEADERSHIP Conference and Awards continues to be a major event that brings together influential voices to deliberate on national progress and honour individuals and institutions making meaningful impact in society.
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