Nigeria, Russia, Explore Banking, Financial Cooperation

Economic Diplomacy World

 

Nigeria will prioritize its national interests and will not succumb to external pressure from the West regarding cooperation with Russia, Nigeria’s Foreign Minister, Yusuf Tuggar, said.

Tuggar said this in an interview with Sputnik in the course of his three-day working visit to Russia from March 5-7.

“You have to understand one thing. Nigeria is not the sort of country that succumbs to pressure.

“We have been single-minded since inception.

 “We joined the non-aligned movement since we became independent in 1960.

 “We do what we feel is right for us as a country; we are not dictated to by anyone,” Tuggar said.

 The minister stated that Nigeria welcomes alternatives to the SWIFT payment system, including a Russian analogue, the Financial Messaging System of the Bank of Russia (SPFS).

 He gave an assurance that Nigeria could consider using them if they satisfied its national interests.

 “This (SPFS) is a very interesting system. It is welcome. You know, the more, the merrier, as they say.

 “It doesn’t mean that SWIFT is not a good system, but if there are other alternatives, Nigeria would consider (them) … It’s something that we will look at.

 “And if it’s in our interest to engage in it, we will for sure,” the minister said when asked to comment on the creation of SPFS and the possibility of Nigeria joining it. (Sputnik/NAN)