The Nigerian Immigration Service (NIS) has pinpointed the Central Bank of Nigeria‘s (CBN) foreign exchange policies as a significant factor contributing to the ongoing scarcity of passport booklets within the country.
Comptroller-General Idris Jere elucidated this pressing issue while addressing an ad hoc committee of the House of Representatives, which has been tasked with investigating the production and distribution of passport booklets across Nigeria. Jere emphasised that the primary components required for the production of these booklets must be obtained from international sources, thus necessitating access to foreign exchange (forex) facilitated by the CBN. He informed committee members that the unavailability of forex has severely hampered the production process, leading to a dearth of passport booklets.
Jere lamented, “The government’s foreign exchange regulation policy, coupled with the CBN’s reluctance to grant access to forex for the importation of passport booklets, has created a significant challenge for the NIS.” He continued, “While we generate forex through passport sales, we are unable to access the necessary funds to procure the very booklets we are selling.”
The Comptroller-General further expressed his concerns regarding the absence of a domestic passport production facility in Nigeria, stating that the existing production operations take place overseas.
During the proceedings, Yinka Fisher, CEO of Irris Smart Technology Ltd, concurred with Jere’s assertions, claiming that forex limitations serve as the primary impediment to the efficient production of passport booklets. Fisher also accused the Nigeria Security Printing and Minting PLC (NSPM) of sabotaging his company’s efforts in the production process. According to Fisher, the CBN, purportedly under the influence of NSPM, has denied Irris Smart Tech Ltd access to the required forex.
Fisher warned that replacing his company with NSPM could have far-reaching consequences, potentially resulting in the loss of investors’ confidence and jeopardising the global trust that Nigeria currently enjoys.
Image Credit: Photo by Omotayo Tajudeen on Unsplash
