News

Why Passport Booklets Are Scarce — NIS

Published

3 years ago

May 9, 2023

Editor

Nigerian Immigration Service (NIS) and Irris Smart Technology Ltd have attributed the dearth International passport booklet to unavailability of foreign exchange from the Central Bank of Nigeria (CBN) to aid production abroad.

Both bodies spoke while appearing before an ad hoc Committee of the House of Representatives investigating the proposed domestication and processing of Nigerian international passport in Abuja on Tuesday.

Speaking at the public hearing, the Comptroller-General of the service, Mr Idris Jere said the Service does not have access to the forex it generated.

He decried the absence of a producing factory in Nigeria, saying that the production of the passport booklets was done abroad.

He said: “Foreign exchange regulation policy of the government and CBN’s refusal to grant access to forex for importation of the passport booklet.

“We generate forex from sale of passport but we do not have access to buy the same booklet and that is a challenge for NIS.

“The factors responsible for scarcity of passport include the inability to setup passport producing factory in Nigeria as its production is done abroad.

“The major seven component used for producing passports are sold in international market and the assemblage and production are done in Malaysia.

“This makes the production process solely dependent on forex and the scarcity of forex due to the fall in Naira value is of major concern”.

In their own presentation, the foreign contractors handling the passport production, Irris Smart Technology Ltd while advancing the same reason however accused the Nigerian Security Printing and Minting (NSPM) and the Central Bank of Nigeria (CBN) of sabotaging their efforts at getting foreign exchange.

The managing Director of the Company, Yinka Fisher who appeared before the committee said “Today we have a system where we have a central processing centre with a strong inventory control mechanism. Last year, we delivered a record number of booklets to NIS which was about 1.9 million booklets. This year, for the first four months, we have delivered nearly 800, 000 booklets. We are on course for another record supply this year.

“Immigration gave mint the opportunity to print the first set of booklets. When they were delivered, it was sub standard in 2004. The government discarded them and decided to have an international tender for the production and embedding of chips. Five companies were invited. Three foreign companies, mint and ourselves to submit bids were analyzed, mint company were found to be incompetent and most expensive. The iris bid was found to be technically competent and competitive.

“Since mint lost that initial bid they have been trying to scuttle the project. In the past, we would ask our bankers to bid for forex on our behalf to open LCs for us. CBN and mint decided they would tell our bankers to stop selling forex to us so that we cannot open LC, so we cannot deliver booklets. We would be in breach of our agreement. They instituted that and for a while, we were at a loss because banks did not sell us forex and we could into open LCs. That was what gave rise to the first scarcity of booklets in Nigeria. It was not our inability to deliver but the sabotage by the CBN and the mint.”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

5 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

5 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

7 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.