Rédaction Africa Links 24 with News Desk
Published on 2024-03-07 13:45:06
Nigeria’s Foreign Minister Yusuf Tuggar recently emphasized that Nigeria will prioritize its national interests and not succumb to external pressure from the West regarding cooperation with Russia. Mr. Tuggar made these statements during an interview with Sputnik as part of his three-day working visit to Russia from March 5-7.
In his remarks, Mr. Tuggar highlighted Nigeria’s commitment to making independent decisions based on what the country deems best for itself. He stated that Nigeria has been single-minded since its inception and has been a member of the non-aligned movement since gaining independence in 1960. This stance reflects Nigeria’s determination to carve its path and not be dictated to by external forces.
During the interview, Mr. Tuggar also discussed Nigeria’s openness to exploring alternatives to the SWIFT payment system, including the Russian analogue, the Financial Messaging System of the Bank of Russia, known as SPFS. He assured that Nigeria would consider using such alternatives if they align with the country’s national interests.
The emergence of alternative payment systems like SPFS came about in response to the growing need for options beyond SWIFT, especially in the face of geopolitical tensions and sanctions. The creation of SPFS by the Bank of Russia and the launch of the Cross-Border Interbank Payment System by China are examples of countries seeking to ensure uninterrupted financial messaging capabilities within and outside their borders.
Mr. Tuggar acknowledged the significance of systems like SPFS, noting that diversity and options in the financial sector can be beneficial. While recognizing the value of SWIFT, he emphasized that Nigeria would evaluate other alternatives and engage with them if it serves the country’s interests.
The minister’s stance underscores Nigeria’s commitment to safeguarding its sovereignty and pursuing paths that align with its national priorities. By maintaining autonomy in decision-making and considering a range of options in the financial realm, Nigeria demonstrates its willingness to adapt to evolving global dynamics while safeguarding its interests.
Overall, Mr. Tuggar’s remarks reflect Nigeria’s firm stance on upholding its sovereignty and independence in decision-making, particularly in the realm of international cooperation and financial systems. Nigeria’s commitment to evaluating alternatives like SPFS showcases its openness to exploring diverse options that could enhance its financial infrastructure and serve its national interests. As the country navigates complex geopolitical landscapes, it remains steadfast in its pursuit of strategies that prioritize its own well-being and autonomy.
Read the original article on DailyNigerian.com
