News
UK Rescinds Controversial £3,000 Bond for Nigerians Seeking UK Visas
The United Kingdom has rescinded her controversial plans for a £3,000 bond on Nigerians seeking entry to the country after a massive outrage greeted the proposed scheme.
Appalled by the move, Nigeria’s ministry of Foreign Affairs assured Nigerians of government’s readiness to defend and protect them all over the world.
Also the House of Representatives Foreign Affairs Committee described the proposed UK entry bond as discriminatory and unacceptable.
The plan is now being hastily rewritten after Nick Clegg, Liberal Democrat leader in the UK declined to sign off the details of a pilot scheme due to start in November.
It would be recalled that Theresa Mary May, British Home secretary had put forward a £3,000 cash bond to deter “high risk” Asian and African short-term visitors from overstaying in Britain.
The scheme was floated at the weekend by the home secretary and provoked uproar in India and Nigeria, which were among the six countries named as possible targets, with threats that reciprocal action should be taken against British visitors.
The other countries were Pakistan, Bangladesh, Sri Lanka and Ghana.
“The policy has not yet been signed off,” said a Liberal Democrat source in the UK was quoted as saying.
“We are in favour of the principle but the exact details of how it is to be piloted, including the size of the bond, is still being discussed in government.”
Clegg has said he favours the introduction of a £1,000 cash bond to deter overstayers.
Home Office sources confirmed that the level at which the bond is to be set was among the details yet to be decided, and said the pilot scheme was still in the planning stage.
They stressed that the requirement to post a bond would not apply to all visitors from the designated countries but only to individuals regarded as high risk.
The scheme might apply to hundreds of visitor visa applicants initially, before being expanded to cover many thousands later.
The Home Office wants to pilot the scheme for six-month visitor visas and will extend it to student and work visas if it proves successful. Those who overstay their visa and fail to return home will forfeit the money.
The Financial Times reported on Tuesday that the announcement of a £3,000 bond scheme at the weekend was in danger of provoking a diplomatic backlash in India, months after David Cameron had tried to combat the perception that Britain was closing its doors to students from the subcontinent.
It reported that the Confederation of British Industry had attacked the scheme as “highly discriminatory and very unfortunate”.
In Nigeria senior government officials and politicians described the scheme as discriminatory and unacceptable.
Mr Ode Ogbole, spokesman for the Foreign Affairs Ministry in Abuja told Daily Trust: “It’s been rescinded”.
Elsewhere, Nnenna Elendu-Ukeje (PDP Abia), committee chairman on foreign affairs said in a statement that “This is totally discriminatory and unacceptable. It is targeted to non-white Commonwealth. We would take a critical look at the policy as it affects Nigerians and come up with a way forward”
“We agreed totally with the UK Foreign Minister that the policy is totally unworkable and impractical. It is contrary to the commitment made to our President by David Cameron during their last meeting. We believe it is for political reason ahead of general election. We seek that our long historical relationship should take precedence over political expediency,” Ukeje said.
In the UK, Keith Vaz, chair of the Commons home affairs committee, said the move flew in the face of Cameron’s intention to attract the brightest and best to Britain. “The plans could potentially alienate already settled communities in the UK,” he said.
“There are a number of holes in the home secretary’s pilot. If this is to be workable she must conduct a proper consultation. She has said she wants to deter overstayers, yet with the mess that is E-Borders there is currently no way to monitor if people actually leave the country.
The bond level of £3,000 is completely unrealistic. If somebody was determined to work here illegally this could be earned back in a matter of months,” Vaz said.
But May said the move was the next step in making sure the immigration system was more selective, and bringing down net migration from the hundreds of thousands to the tens of thousands while still welcoming the brightest and the best to Britain.
“In the long run we’re interested in a system of bonds that deters overstaying and recovers costs if a foreign national has used our public services,” she said. “We’re planning a pilot that focuses on overstayers and examines a couple of different ways of applying bonds. The pilot will apply to visitor visas, but if the scheme is successful we’d like to be able to apply it on an intelligence-led basis on any visa route and any country.”
New data from CFA Society Nigeria is reshaping how the country’s financial sector thinks about talent development, with Access emerging as the single largest source of CFA candidates in Nigeria, distinction industry watchers say signals a deeper shift in how leading institutions are building investment expertise from within.
In its Where Nigeria’s Finance Professionals Work series, published in a national daily, CFA Society Nigeria placed Access first among employers of CFA candidates nationwide, with 82 candidates enrolled in the programme, more than double the 38 recorded at the next-placed institution and well ahead of every other bank or financial services firm on the list.
Access also ranked second among employers of CFA charterholders, with 11 professionals who have completed all three levels of the Programme and met its experience and ethics requirements.
For an industry that has long measured itself by balance sheet size and branch count, the rankings point to a different kind of competition: one over who is building the deepest bench of certified, globally credentialed talent.
CFA Society Nigeria compiled the data from its Salesforce Membership Database as at June 2026, and described the exercise as a way of recognising employers whose people “bring rigour, integrity and global best practices into the workplace every day.”
Analysts following the sector say the outcome is notable less for the ranking itself than for what it suggests about talent strategy across Africa’s financial services industry. A single institution developing more aspiring charterholders than the rest of the market combined raises the floor for professional standards nationally, not just within one balance sheet.
Every candidate who advances through the CFA Programme adds to a shared pool of ethics-trained, analytically rigorous professionals that Nigeria’s capital markets, pension funds and asset managers all eventually draw from.
Access Holdings Group Chief Executive Officer Innocent C. Ike, commenting on the rankings, framed the achievement in terms of institution-building rather than recruitment: “Every candidate on that list represents our commitment to building institutions and professionals that endure.”
The remark echoes a broader thesis increasingly voiced by market observers, that talent depth, not scale alone, is what will determine which African financial institutions earn lasting global credibility.
That distinction sits at the centre of Access’s stated ambition to become the World’s Most Respected African Financial Services Group. If the CFA numbers are any indication, the Group’s route to that goal runs less through square metres of branch network and more through the calibre of the people sitting inside it, a bet that Nigeria’s finance professionals, and the institutions that will one day hire them, are already placing alongside Access.
Nigeria Civil Aviation Authority (NCAA) has announced plans to introduce Radio Frequency Identification (RFID) baggage tracking technology across domestic and international airport terminals to tackle the growing problem of delayed, misrouted and missing luggages
Michael Achimugu, director, Public Affairs and Consumer Protection, NCAA, disclosed this at a stakeholder engagement forum in Lagos.
Achimugu said the RFID-enabled system would replace the traditional barcode-based baggage tracking framework and provide airlines and passengers with real-time visibility of checked luggage from check-in to final collection.
According to him, the technology would improve baggage traceability, reduce mishandling and strengthen accountability across the baggage-handling chain.
Unlike conventional barcode systems, RFID technology allows baggage to be automatically scanned at multiple points without requiring direct line of sight, enabling real-time tracking of luggage throughout its journey.
Achimugu said issues involving short-landed, missing, lost or damaged baggage had remained among the major complaints from air travellers, alongside flight delays.
He said the introduction of RFID technology was therefore aimed at improving baggage-handling standards and restoring passenger confidence in the aviation sector.
The NCAA said the initiative also aligns with IATA Resolution 753, which requires airlines to track baggage at key points during the passenger journey.
The authority expects the technology to provide more accurate information on the location of luggage, facilitate quicker resolution of baggage-related complaints and improve the overall passenger experience.
The NCAA said the initiative would also strengthen accountability among airlines and other stakeholders involved in baggage handling at Nigerian airports.
eTranzact International Plc has called for increased adoption of digital payment solutions among micro, small and medium enterprises (MSMEs), saying access to technology is critical to improving business efficiency, financial inclusion and growth.
The company also said it was deepening its partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to expand digital access and financial literacy among small businesses across the country.
In a statement, the Divisional Head, Merchant Services, eTranzact, Mrs. Abimbola Reis, stated this at the SMEDAN/eTranzact Town Hall Engagement in Lagos recently, themed, “Financial Literacy and Inclusion for MSMEs Leveraging on Fintech Innovation.”
Reis described MSMEs as the backbone of Nigeria’s economy, noting that the sector comprises almost 40 million businesses and contributes significantly to economic growth and job creation.
However, she said many businesses continue to face challenges including limited access to finance, inefficient payment systems, weak financial reporting, cash-flow constraints and inadequate access to digital platforms.
She added that trust concerns also affect businesses’ ability to access finance, while heavy reliance on cash increases exposure to theft and makes payment reconciliation more difficult.
Representing the Director-General of SMEDAN, Prof. Yinka Fisher said the town hall was aimed at generating practical ideas and solutions that would support the growth and expansion of MSMEs.
“The essence of this engagement is to share ideas and concepts that will help MSMEs thrive and expand. Our partnership with eTranzact is about expanding the frontiers of MSMEs and ensuring they continue to grow,” he said.
Also speaking, representative of the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. Praise Adedigba said businesses could no longer depend solely on hard work to remain competitive.
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