Connect with us

Headlines

U.S commends Nigeria over Galactica funds repatriation efforts

Published

on

The U.S. Deputy-Secretary of State, Kurt Campbell, has extolled Nigeria’s partnership in the successful repatriation of funds linked to forfeited luxury real estate and Galactica Star Superyacht.

The Galactica assets worth $52.88 million were forfeited and linked to former Petroleum Resources Minister Diezani Alison-Madueke and her associates.

Campbell, in a statement by Alkasim Abdulkadir, Special Assistant on Media and Communication Strategy to Amb. Yusuf Tuggar, Minister of Foreign Affairs, made the commendation on Thursday in Abuja.

The commendation is against backdrop of the valedictory telephone conversation between Campbell and Tuggar.

Campbell commended Nigeria’s commitment to fighting corruption, as well as cooperation in the recovery and repatriation of stolen assets, while thanking Tuggar and his team

The repatriation of the Galactica funds marked significant milestone in the fight against corruption and testament to the strong partnership between Nigeria and the U.S.

“The deputy-Secretary of state said the repatriation negotiations between both officials had made him believe more in Nigeria, while pledging support and cooperation of the incoming deputy-secretary of state.

For his part, Tuggar thanked Campbell for his dedication to the process and steadfast determination to bring the repatriation to fruition.

Tuggar said. “Nigeria is an energy producer; robust gas energy transition plans like the African Atlantic gas pipeline traverse 15 African countries, which can provide requisite energy supply for crypto players and data miners.

“This has great potential and we are counting on our allies like the U.S. and Morocco.

“Truly, Nigeria and the U.S. are going back to basics, back to strong values and this is something we can build upon.

The repatriated funds will expand the Distributed Access through Renewable Energy Scale-Up project and the Rural Electrification Agency (REA).

The programme seeks to increase access to electricity services in the country.

The telephone-conversation by the officials tackled bilateral issues about leveraging technology to turn digital assets, like Binance into mutually beneficial opportunities for Nigeria to become hub of data mining, data storage and artificial intelligence between both countries.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

Published

on

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.

Continue Reading

Headlines

Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

Published

on

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.

Continue Reading

Headlines

Shettima Warns Media Against Romanticising National Challenges

Published

on

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.

Continue Reading

You May Like

Copyright © 2024 Acces News Magazine All Right Reserved.

Verified by MonsterInsights