Tag: USA

US remittance tax threatens Nigeria’s FX inflows

Aminu Imam
FX inflows

Nigeria’s foreign exchange earnings face a new threat as the US Congress considers a 5% tax on diaspora remittances. The proposed bill, introduced by House Republicans, targets money transfers abroad and could reduce funds sent to countries like Nigeria. The tax, payable by senders and collected quarterly by the US Treasury, exempts verified US citizens and remittances sent through authorized channels. A final House vote is expected before May 26. The US remains the world’s top source of remittances, with $79 billion sent abroad in 2022. Nigeria received $20.1 billion,…

Read More

U.S. Court orders release of seized $6m arms funds to Nigeria

Aminu Imam
U.S. Court orders

Nigeria has successfully reclaimed over $6 million from the United States  (US) government, following a prolonged legal battle spanning nearly a decade. The funds were originally seized in 2014 after an arms broker, Dolarian Capital Inc. (DCI), attempted to supply military equipment to Nigeria without the necessary U.S. government license. The U.S. authorities cited a violation of the Arms Export Control Act, leading to the seizure. On December 23, 2024, the U.S. District Court for Eastern California ruled in favour of Nigeria, issuing a permanent order of forfeiture and confirming…

Read More

ExxonMobil proposes $10bn investment in Nigeria’s Deepwater oil

Aminu Imam
ExxonMobil proposes

U.S. oil supermajor, ExxonMobil, has proposed an investment of $10 billion in Nigeria’s deepwater oil resource development. According to the spokesman and senior special assistant to the Vice-President, Stanley Nkwocha, in a statement issued yesterday, Vice-President, Kashim Shettima “welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil operations, describing it as a clear testament to the administration’s economic reforms and investment-friendly policies,” said the statement. Recall that Shettima, on Wednesday, held a high-level meeting with ExxonMobil executives on the sidelines of the on-going 79th Session of the United Nations…

Read More

US Elections: New York Times asks Biden to leave presidential race

Aminu Imam
NY Times on Biden

America’s most influential newspaper, The New York Times, called in an editorial on Friday for President Joe Biden to step aside and allow another Democrat to challenge Donald Trump for the White House in November. Describing Biden as “the shadow of a great public servant,” the newspaper’s editorial board — which is separate from its newsroom — said Thursday’s debate between the president and Trump proved the 81-year-old “failed his own test”. His determination to run again is a “reckless gamble,” it said, adding: “the greatest public service Mr. Biden…

Read More

US military eyes West Africa as ‘Plan-B’ after ouster from Niger

Aminu Imam
Flintlock 2018 Training in Agadez, Niger

A top U.S. general is making a rare trip to Africa to discuss ways to preserve some of the U.S. presence in West Africa after the Republic of Niger decided to kick-out the U.S. military in favour of partnering with Russia in a major setback for Washington. Chairman of the US Joint Chiefs of Staff, Air Force General C.Q. Brown, told reporters before landing in Botswana on Monday for a gathering of African Chiefs of Defense, that he was going to speak with several partners in the region. “I do…

Read More

US Congress members visit Binance employee detained in Nigeria, seek his release

Aminu Imam
Binance employee

Two United States (US) members of Congress, Representative French Hill and Representative Chrissy Houlahan, visited detained American citizen and Binance employee, Tigran Gambaryan, at the Kuje Detention facility on June 19th 2024 and have posted a video on social media calling for his release, according to a statement. Announcing the visit on his X account, Representative Hill  (Republican), said, “Yesterday, @RepHoulahan and I visited with US citizen, Tigran Gambaryan, in Kuje Prison in Nigeria. We found him suffering from the conditions there, as he has malaria and double pneumonia, and…

Read More

Five US researchers foresee Nigeria becoming a failed State in 2030

Aminu Imam
US Researchers

A group of five United States of America (US) academics have authored a research work on: “Failed State 2023, Nigeria – A Case Study”, and revealed that Nigeria, as an independent country, can fail for number of reasons. The academics, Col Christopher J. Kinnan, Daniel B. Gordon, Col Mark D. Delong, Douglas W. Jaquish and Col Reuben S. McAllum, who are both Staff of Center for strategy and technology (CSAT), Air University Maxwell Air Force Base , Alabama 36112, USA, came up with the occasional paper series established by the…

Read More

Crude oil: ??angote Refinery to source 24m barrels from US??

Aminu Imam
Dangote Refinery

?angote Refinery is set to purchase at least 24 million barrels of United States’ (US) crude oil over the next one year amid Nigeria’s crude oil production shortfalls. Bloomberg revealed the plan in a report, stating that refinery issued a term tender to buy two million barrels per month of West Texas Intermediate Midland crude for a year starting in July. This amounts to 24 million barrels of US crude in one year that the $20 billion refinery established by Africa’s richest man, Aliko ?angote?, will purchase over the period.…

Read More

Tuggar to represent Tinubu in US-Africa Business Summit

Aminu Imam
Tuggar

Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, will represent President Bola Tinubu at the 2024 US-Africa Business Summit in Dallas, Texas, the Presidency has said. The spokesperson to the Vice-President, Kashim Shettima Stanley Nkwocha, in a statement yesterday, said the Vice President who was originally scheduled to represent the President was unable to make the trip following a technical fault with his aircraft, forcing him to make a detour on the advice of the Presidential Air Fleet. The Vice-President will carry on with other national duties. The high-profile summit,…

Read More

U.S govt report indicts FG, Judiciary, Military on corruption, human rights, killings

Aminu Imam
US indicts FG

Corruption is still endemic in institutions of government in Nigeria, the United States of America has claimed. The claim, among several others, was part of its focus report on Nigeria in 2023. The report, packaged by the United States Department of State, was titled: ‘2023 Country Reports on Human Rights Practices: Nigeria’. Other African countries were also captured, as well as other countries of the world. Speaking on respect for the integrity of the person, the report claimed that: “There were reports the government or its agents committed arbitrary or…

Read More