Tinubu Assures Investors Of Ease In Fund Repatriation

Posted by African Examiner Business News, Latest Headlines Friday, December 15th, 2023

(AFRICAN EXAMINER) – President Bola Tinubu has assured foreign investors of ease in the repatriation of funds as the Federal Government ramps up efforts to attract more businesses to the country.

Tinubu spoke on Friday when he received Letters of Credence from the Ambassador of Hungary, Lorand Endreffy; the High Commissioner of Rwanda, Christophe Bazivamo, and the Ambassador of Ukraine, Ivan Kholostenko, at the State House in Abuja.

The Nigerian leader told the Rwandan High Commissioner that issues around trapped funds are being tackled, promising that funds will be processed expeditiously for release.

“We are one family on the continent. We will continue to promote democracy and good governance. I will maintain an open-door policy, and the Minister of Foreign Affairs and the Chief of Staff are also available,” he said according to a statement from his spokesman Ajuri Ngelale.

“For the avoidance of doubt, we are already working on the issues of double taxation, and it will be properly streamlined to favour business growth. Nigeria is home and a haven for investors.”

READ THE FULL STATEMENT BELOW

President Tinubu Receives Ambassadors, Mandates them to Focus on New Investment And Trade Expansion

President Bola Tinubu has assured foreign investors of diligent and predictable fund repatriation, and the streamlining of the tax system, while imploring ambassadors to prioritize the exploration of new frontiers of trade relations that will be mutually beneficial as they carry out their duties in the country.

The President received Letters of Credence from the Ambassador of Hungary, Lorand Endreffy; High Commissioner of Rwanda, Christophe Bazivamo, and Ambassador of Ukraine, Ivan Kholostenko, at the State House, on Friday.

Speaking when he received the High Commissioner of Rwanda, the President said the long-standing concerns over trapped funds are receiving attention and that the funds will be processed expeditiously for release.

“For the avoidance of doubt, we are already working on the issues of double taxation, and it will be properly streamlined to favour business growth. Nigeria is home and a haven for investors,” the President affirmed.

The Rwandan High Commissioner said the government of Rwanda was prepared to enhance bi-lateral relations with Nigeria, with new visa policies and trade agreements.

At the ceremony, President Tinubu asked the Ambassador of Hungary to explore all opportunities of building partnership, especially in the areas of agriculture and food security, and how to leverage the experience of the country in technology.

“Thank you so much for taking care of our students who are in your country. We are a very big country, with huge potential to sustainably spur economic growth. We are ready to improve relations, especially in the areas of agriculture and food security,” the President said.

The Hungarian Ambassador commended the President for his bold, courageous, and strategic decisions to reposition the Nigerian economy, listing some areas of collaboration to include education, agriculture, food security, security, and medical technology.

“My Prime Minister always says that our relations are based on mutual respect,’’ he said.

President Tinubu told the Ukrainian Ambassador that Nigeria will always work for global peace and harmony.

“We are with you in prayers. We will continue to support good governance and democracy,’’ the President stated.

Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

December 15, 2023