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Lagos Residents Spend Over ₦50bn on US Visa Applications Amid Tighter Entry Rules

US visa approvals for Nigerians drop 23% in 2024 as stricter policies target multiple-entry permits and social media disclosure

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US visa approvals for Nigerians drop 23% in 2024 as stricter policies target multiple-entry permits and social media disclosure

Residents of Lagos State and other parts of Nigeria spent more than ₦50 billion on United States visa applications between 2023 and 2024, even as the US government introduced tougher entry requirements that led to a sharp decline in visa approvals. Data from the US Department of State analysed by Intelpoint revealed that Nigerians paid an estimated $37.2 million—about ₦50.7 billion at an average exchange rate of ₦1,360 to the dollar—for non-immigrant visa applications during the period.

The report showed that the number of non-immigrant visas issued to Nigerians dropped by about 23 percent, falling from 113,900 in 2023 to 87,300 in 2024. This represents a reduction of over 26,000 visas within a single year. Business and tourism travel continued to dominate approvals, with B1/B2 categories accounting for around 83 percent of all visas issued in 2024. Student visas (F1) made up roughly seven percent, while exchange visitor and other temporary categories comprised the remainder.

Experts say the fall in visa issuances is linked to new US immigration policies introduced after Donald Trump’s return to the White House in January 2025. In July last year, the US State Department announced that most non-immigrant and non-diplomatic visas for Nigerian citizens would be limited to single-entry permits valid for only three months—existing visas were not affected by this change. The following month, applicants were required to provide all social media usernames used over the previous five years on their DS-160 forms, with consular officials warning that omissions could lead to denial or future ineligibility.

Despite economic challenges and the high cost of application fees—which stand at $185 per person—Nigerians remain among Africa’s most mobile populations. Susan Akporiaye, former President of the National Association of Nigeria Travel Agencies, said travel demand cuts across all income levels. “People would say it’s because of the economy, but I share a different view. Nigerians are generally migrants; they love travelling… We are like the Chinese of Africa,” Akporiaye stated in an interview.

She further noted that most Nigerians who travel eventually return home, with only a small fraction remaining abroad permanently. “The ones who travel and return are far more than those who stay back. It’s not up to ten percent that don’t return,” she added. The report also found that Nigeria accounted for about 0.8 percent of global US non-immigrant visa issuances in 2024.

With tighter restrictions now in place—including social media scrutiny and shorter validity periods for visas—travel industry stakeholders expect demand for US travel to remain robust but warn that applicants should prepare for longer processing times and increased documentation requirements.

Source: https://punchng.com/nigerians-spend-n50bn-on-us-visa-applications/

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Nigeria News (Standard)

Federal Government Arraigns Five in Abuja Over Alleged Arms Smuggling to Boko Haram

Suspects charged with terrorism and attempted illegal arms supply as authorities intensify clampdown on insurgency financing

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Suspects charged with terrorism and attempted illegal arms supply as authorities intensify clampdown on insurgency financing

The federal government on Thursday arraigned five men before a court in Abuja, accusing them of terrorism and attempting to supply smuggled weapons to Boko Haram. The arraignment marks a significant step in ongoing efforts by Nigerian authorities to disrupt the logistics and funding networks supporting armed insurgent groups operating mainly in the North-East.

According to the charges, the suspects were accused of conspiring to provide arms unlawfully, with the intent of aiding Boko Haram’s violent campaign against the state. The prosecution presented details of alleged attempts by the accused persons to facilitate illegal shipments, which were intercepted following joint operations by security agencies.

The case underscores Nigeria’s continued struggle with insecurity linked to terrorist groups like Boko Haram, which has carried out attacks across Borno, Yobe, and Adamawa states for more than a decade. Security analysts say that disrupting arms supply chains is critical to reducing the operational capacity of such groups and safeguarding communities in affected regions.

A government representative at the court proceedings stated that authorities remain committed to pursuing all those involved in terrorism financing and logistics. “These charges demonstrate our resolve to ensure that anyone who aids or abets terrorist activities faces the full weight of the law,” he said. There was no immediate response from defence counsel representing the accused men at Thursday’s hearing.

The arraignment comes as security agencies have ramped up investigations into suspected collaborators across various states. The case has been adjourned for further hearing, with officials indicating that more arrests could follow as part of broader counter-insurgency operations.

Source: https://www.premiumtimesng.com/news/top-news/887044-fg-arraigns-five-men-for-terrorism-attempted-supply-of-smuggled-arms-to-boko-haram.html

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Nigeria News (Standard)

Mexico Defeats Nine-Man South Africa 1–0 as Jiménez Scores in FIFA World Cup Clash

South Africa reduced to nine players after two red cards; Mexico secures narrow win to advance in group stage

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South Africa reduced to nine players after two red cards; Mexico secures narrow win to advance in group stage

Mexico claimed a hard-fought 1–0 victory against South Africa in a dramatic FIFA World Cup match on Thursday, with striker Raúl Jiménez netting the decisive goal. The encounter, played at an international venue, saw the South African side finish with only nine players after two were sent off during the tense contest.

The match began with both teams searching for early opportunities, but momentum shifted after South Africa received their first red card midway through the first half. Despite being a man down, South Africa held firm until a second dismissal further weakened their defence. Mexico capitalised on their numerical advantage when Jiménez found the back of the net, putting his team ahead and ultimately sealing all three points.

This result has significant implications for both sides in the group standings. For Mexico, the win strengthens their bid to progress to the next round of the tournament, while South Africa now faces an uphill task to qualify after suffering defeat and losing key players to suspension. Nigerian football fans will be watching closely as these developments could shape potential opponents for the Super Eagles if they advance from their own group.

No official comments had been issued by either team’s coach as at press time. Football analysts have noted that discipline and player management will be crucial for teams hoping to go far in this year’s competition. Meanwhile, organisers are expected to review disciplinary actions following incidents of indiscipline on the pitch.

Both teams will return to action in their subsequent fixtures, with South Africa needing a win to revive their hopes and Mexico seeking another positive result to confirm qualification.

Source: https://www.premiumtimesng.com/news/top-news/887032-world-cup-nine-man-south-africa-crumble-as-jimenez-seals-mexico-victory.html

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Nigeria News (Standard)

CBN to Revise Guidelines for Financial Holding Companies in Abuja

Central Bank moves to update regulatory framework, aiming to strengthen oversight of Nigeria’s financial conglomerates

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Central Bank moves to update regulatory framework, aiming to strengthen oversight of Nigeria’s financial conglomerates

The Central Bank of Nigeria (CBN) has announced plans to review the rules governing financial holding companies, signalling a fresh move to strengthen oversight of the country’s financial sector. The development was made public in Abuja on Thursday, 11 June 2026, as part of ongoing efforts by the apex bank to align regulations with evolving industry realities.

According to the CBN, the review will focus on updating existing guidelines that oversee how financial holding companies operate within Nigeria’s banking ecosystem. These companies typically control multiple subsidiaries across banking, insurance, asset management and other financial services. The new rules are expected to address operational risks and ensure that holding structures do not undermine the stability of individual subsidiaries or the wider financial system.

The move comes amid growing concerns over compliance gaps and risk management practices among some holding companies. In recent years, stakeholders have called for clearer boundaries and stricter supervisory mechanisms to prevent abuses such as regulatory arbitrage or concentration of risk. The CBN’s planned revision is seen as an attempt to address these issues before they escalate.

While specific details of the proposed changes have not yet been disclosed, industry experts expect tighter reporting requirements and improved corporate governance standards. The apex bank said it will engage with relevant stakeholders—including commercial banks and non-bank subsidiaries—before finalising the revised framework.

The CBN is expected to release a draft guideline for public input in the coming weeks. Observers say the updated rules could have significant implications for conglomerates operating under holding structures, as well as for investors seeking clarity on sector stability.

Source: https://www.premiumtimesng.com/business/business-news/887029-cbn-to-revise-rules-governing-financial-holding-companies.html

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