Federal Govt Reassures Foreign Investors Of Fund Repatriation

President Bola Tinubu has assured foreign investors of diligent and predictable fund repatriation, and the streamlining of the tax system, while imploring ambassadors to prioritise 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 yesterday.

Speaking when he received the High Commissioner of Rwanda, the president in a statement by his spokesman, Ajuri Ngelale,  said the long-standing concern over trapped funds was receiving attention and that the funds would 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 chief of staff are also available.

“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 said.

The Rwandan high commissioner said the home government 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.

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.