The Nation Newspaper

Category: Business

  • Apapa Customs earns N2.9 trillion

    Apapa Customs earns N2.9 trillion

    The Nigeria Customs Service, Apapa Area Command  generated a total  N2,930,508,827,110.32 revenue in 2025.

    The amount is an impressive increase of N573,295,266,571.10  over the N2,357,213,560,539.22  collected in 2024, representing a 24.32 per cent growth.

    The figure reinforces Apapa Command’s position as the nation’s leading revenue hub

    The Customs Area Controller, Emmanuel Oshoba, attributed the achievement to effective leadership, disciplined manpower and the strategic deployment of technology under the guidance of the Comptroller-General of Customs, Bashir Adewale Adeniyi.

     He also commended compliant stakeholders whose lawful trade practices contributed significantly to the revenue growth.

    A major contributor to the success, Oshoba said, was the deployment of the Unified Customs Management System (UCMS), also known as B’Odogwu, which enhanced transparency, efficiency and accountability in cargo clearance processes. Regular performance reviews and timely revenue recovery measures further strengthened collections.

    Read Also: Nigeria can earn $10bn yearly from cashew industry, says NCAN

     According to him, “In the area of trade facilitation, the Command intensified stakeholder sensitisation following the rollout of the Authorised Economic Operator (AEO) Programme and expanded the One-Stop Shop (OSS) initiative to ensure faster processing and release of compliant cargoes. Efforts are also at an advanced stage to deploy the FS6000 cargo scanning system, a non-intrusive technology capable of scanning up to 200 containers per hour.”

    The Command, Oshoba said,  “also recorded enforcement successes, intercepting 53 containers laden with illicit drugs and prohibited items, including cocaine, Canadian Loud, tramadol, and expired pharmaceuticals with a Duty Paid Value (DPV) of N12,632,239,303.00k. Some of the interceptions in the year 2025 were handed over to relevant agencies such as NDLEA and NAFDAC for further investigation and possible prosecution.

    Looking ahead, Comptroller Oshoba expressed optimism that the Command would achieve more greater revenue milestone in 2026, driven by deeper implementation of B’Odogwu, AEO, and OSS, stronger intelligence-led enforcement, and expanded collaboration with sister agencies.

    Oshoba assured stakeholders of enhanced engagement with terminal operators, shipping companies, licensed customs agents, freight forwarders, haulage operators and the media to promote transparency, compliance and seamless trade at the nation’s busiest port.

  • NIMC records over 123m enrolments

    NIMC records over 123m enrolments

    The National Identity Management Commission (NIMC) currently stands at over 123.9 million unique records. The highest cumulative enrolment figure of over 13 million was recorded in Lagos State. Regional figures indicated an almost equal distribution across the North and South.

    Allegations of extortion have continued to drag the initiative backwards as some unscrupulous front end partners of NIMC continued to collect N5,000 for enrolling people for the National Identity Numbers (NINs).

    While NIMC has insisted that registration for NIN is free, Nigerians continued to be brazenly extorted raising concerns as to who is telling lies.

    Even officials at the various local government councils where Nigerians could enroll are allegedly charged N5000.

    Read Also: DisCos raked in N570b in Q3, install 228,614 meters

    A widow, Mrs B Adeniran, lamented that she has not been able to retrieve her lost subscriber identity module (SIM) card because of the NIN requirement. “When I visited Igbogila, the headquarters of Ipaja/Ayobo Local Development Council Area (LCDA), I was charged N5000. I didn’t have that type of cash but because I needed it to get my telephone numbers back because they are linked to my bank accounts, I had to beg my children to help me out. I paid an unreciepted N500 before I was enrolled,” she lamented.

    A mother of four, Iya Elija, a resident of Ijagba community in Ado Odo Ota Local Government Area of Ogun State, shared similar frustration in getting NIN. “I don’t have NIN and that is why I don’t have any bank account with the fintechs. They are asking me for N5000. I don’t have that type of money,” she said. An industrious housewife who supports her husband’s earnings by doing cleaning jobs around, she said instead of her clients paying directly into her account, she uses the bank accounts of Point of Sale (PoS) agents around her to collect her money. “The charges are usually not friendly each time I go and collect my salary through them,” she added.

    The experiences of Adeniran and Iya Elijah are fairly representative of what people, especially in the rural areas go through with NIN enrolment. 

    For gender distribution of the enrolment, according to NIMC data, a total of 69,700,164 representing 56.25 per cent of males were captured while 54,206,154 representing 43.75 per cent of female were enrolled during the period under review and were given their unique NINs.

    According to figures from the Commission, enrolment figures last reported was for October 31, 2025.

    Aside Lagos that led the other states posting 3,118,103 enrolment figures, NIMC also identified nine others as the top leading states in terms of registration. The others are Kano with 11,585,366, Kaduna with 7,326,730, Ogun- 5,126,323 and Oyo with 4,720,812.

    Others are Katsina with 4,219,535; FCT Abuja- 4,063,297; Rivers -3,672,851; Delta- 3,372,654; and Bauchi -3,228,900.

    NIMC also identified another set of states it described as Bottom 10 States for NIN Enrolment as at October 31 2025. The states are Kwara with 2,098,908; Imo- 2,098,133; Yobe- 2,091,201; Enugu- 2,016,733; and Kogi- 1,950,314.

    Others are Taraba- 1,863,322; Cross River- 1,426,932; Ekiti- 1,169,710; Ebonyi- 1,038,675; and Bayelsa- 803,874.

  • ‘Hold governors accountable’

    ‘Hold governors accountable’

    Amid worsening infrastructure and growing insecurity across the country, the Nigeria Employers’ Consultative Association (NECA) has accused state governors of misappropriating funds despite increased revenue from the Federation Account Allocation Committee (FAAC).

    Speaking during an interaction with Journalists ,  NECA’s Director-general, Adewale-Smart Oyerinde, challenged Nigerians to demand accountability from their state governors over the utilisation of monthly allocations, particularly in light of deteriorating infrastructure and rising insecurity in many states.

    Oyerinde insisted that governors owe citizens a clear justification of how FAAC allocations received so far have been spent.

    According to him, poor governance has made it difficult for farmers to access their farmlands, while in some areas, they are forced to pay heavy levies before being allowed to farm.

    “State governors are not justifying the monthly allocations they collect from the Federation Account. If issues of food, transportation, accommodation and education were properly addressed, governance would be more inclusive and beneficial to everyone in the state,” he said.

    Read Also: Nigeria can earn $10bn yearly from cashew industry, says NCAN

    Oyerinde identified joblessness as a major driver of insecurity, stressing that state governments have a critical role to play in creating an enabling environment for businesses to thrive.

    “The main root of insecurity is unemployment. If state governors create an environment where businesses can grow and jobs are created, idle hands, which are the workshop of the devil, would be meaningfully engaged,” he added.

    The NECA boss also lamented the absence of credible data on the number of companies affected by the harsh economic environment, noting that this gap has hindered effective planning and development.

    “Due to security and infrastructure challenges, many jobs have been lost in recent years, yet there is no reliable data to provide accurate statistics. We want the government to act on the provision of data because data-driven economies will fast-track development,” Oyerinde said.

    He further advised governments at all levels to ensure that policies are deliberately aligned with the objective of economic growth, stressing that the private sector remains the engine room for job creation, productivity and sustainable national development.

  • NASENI unveils competition for MDAs, others

    NASENI unveils competition for MDAs, others

    The National Agency for Science and Engineering Infrastructure (NASENI) is excited to announce the launch of an Inter-Agency Innovation Competition & Awards aimed at harnessing innovation, promoting collaboration and creativity among Ministries, Departments, and Agencies (MDAs) of the Federal Government.

    NASENI has the statutory mission “to develop and maintain a dynamic infrastructure to drive Nigeria’s indigenous industrialization, job creation and national progress for the country.”  

    Read Also: DisCos raked in N570b in Q3, install 228,614 meters

    This specific initiative amongst the MDAs seeks to harness innovative ideas that can drive technological advancement and address pressing challenges facing the nation amongst public servants.

    The competition hereby invites all MDAs to propose innovative solutions in various sectors, including health, agriculture, education, and infrastructure, leveraging science and technology to enhance public service delivery and improve the quality of life for Nigerians.

    MDAs are encouraged to submit their entries through https://naseni.gov.ng/innovation/

    Join the movement in driving innovation for a better Nigeria. Together, we can unlock our nation’s potential through innovation in science and technology. Join the movement by submitting your entry. 

  • New contracts boost NAHCO’s earnings outlook

    New contracts boost NAHCO’s earnings outlook

    Nigerian Aviation Handling Company (Nahco Aviance) Plc has signed contracts with major airlines for the provision of total handling solutions in a major boost to the West Africa’s largest ground handling company’s earnings outlook.

    The contracts included renewal agreements with European giants, Air France, KLM and Virgin Atlantic. Renewal contract was also signed with African operator, Rwand Air.

    Also, NAHCO signed fresh contracts with United Nigeria-Regional, Bellagio and Malaikair.

    The contracts with Air France and KLM were for three years and would run till 2028 respectively.  The duration of the contract with Virgin Atlantic was also three years.

    The duration for Rwand Air contract was for three years effective October 1, 2025.

    Meanwhile, the new contract with United -Regional would be for a period of five years, effective from August 1, 2025. For Bellagio and Malaikair, the contracts were for three and five years respectively.

    Read Also: Nigeria can earn $10bn yearly from cashew industry, says NCAN

    Group Executive Director, Commercial & Business Development, Nigerian Aviation Handling Company (Nahco Aviance) Plc, Prince Saheed Lasisi said NAHCO’s more than 46 years of unblemished excellent service delivery stands it head and shoulder above any other service provider in the industry.

    He added that the company is ready to exceed customer’s expectations.

    “This is what we have been doing for almost half of a century. We will continue to delight our customers and make our stakeholders happy by exceeding expectations in all aspects of our service offerings. We are always willing and ready to do more,” Lasisi said.

    Group Managing Director, Nigerian Aviation Handling Company (Nahco Aviance) Plc, Mr. Olumuyiwa Olumekun, said that with the new fleet of equipment NAHCO is deploying, service delivery could only be better.

    Bellagio Air, Nigeria’s rising star in aviation, is redefining air travel with a blend of luxury, efficiency, and reliability. Headquartered in the vibrant city of Ikeja, Lagos, Bellagio Air is committed to providing world-class service across key domestic and regional routes.

    Malaikair is a regional and customer-focused airline with a mission to bring accessible, affordable, and convenient air travel to Africans, fostering connections between the African and Caribbean regions.

    The contracts further strengthened NAHCO’s earnings outlook, after the company recorded significant growth in third quarter.

    Key extracts of the interim report and accounts of NAHCO for the nine-month period ended September 30, 2025 released at the Nigerian Exchange (NGX) showed double-digit growths across key performance indicators, strengthening the earnings outlook as the group enters traditionally more months of the year.

    The report showed that NAHCO, which had increased dividend payout by 134 per cent for the 2024 business year, closed third quarter 2025 with earnings per share of N6.91, 46.7 per cent increase on N4.71 recorded in the comparable period of 2024. This underlines significant headroom for the group to sustain higher dividend payouts.

    NAHCO had distributed N11.58 billion as cash dividends for the 2024 business year, representing a dividend per share of N5.94, compared with N4.95 billion paid for the 2023 business year.

    The report showed that total revenue rose by 40.7 per cent from N33.95 billion in third quarter 2024 to N47.76 billion in third quarter 2025, driven by renewed and new business contracts and expanding business activities across the subsidiaries.

    Gross profit grew by 37.1 per cent to N28.43 billion in third quarter 2025 as against N20.74 billion in third quarter 2024, showing top-line cost efficiency despite domestic and global inflationary pressures.

    Operating profit increased by 40.8 per cent from N12.88 billion to N18.14 billion, underlining the fact that the performance of the company was driven by business operations rather than financial or structural management.

    Profit before tax improved by 46 per cent to N17.94 billion in third quarter 2025 compared with N12.29 billion in third quarter 2024. After taxes, net profit stood at N13.46 billion, representing an increase of 46.6 per cent on N9.18 billion recorded in the comparable period of 2024.

    The balance sheet of the group also remained strong with total assets rising from N46.95 billion in December 2024 to N48.64 billion by September 2025. Shareholders’ funds also increased from N20.04 billion in December 2024 to N21.92 billion in September 2025.

  • PalmPay restates commitment to nation’s growth

    PalmPay restates commitment to nation’s growth

    PalmPay has restated its commitment to innovation, customer service, and operational growth in Nigeria.

    The fintech gave the commitment when it opened its new office at 33 Old Yaba Road, Lagos, adding that it represents a continued investment in PalmPay’s people, operations, and infrastructure, supporting the company’s ability to deliver reliable financial services at scale. Designed to accommodate PalmPay’s growing team, the workspace enables closer cross-functional collaboration while strengthening service delivery nationwide.

    Located in Yaba, one of Lagos’s most established commercial and technology corridors, the office further anchors PalmPay within Nigeria’s innovation and financial ecosystem. 

    Read Also: DisCos raked in N570b in Q3, install 228,614 meters

    Speaking at the office launch, Managing Director Chika Nwosu highlighted that the new workspace reflects PalmPay’s long-term vision and dedication to excellence. “This new office represents an important step in our growth journey and our commitment to building secure, reliable, and inclusive financial solutions for our users,” he said.

    The launch event was attended by PalmPay’s leadership team, employees and customers, who toured the facility and marked the company’s continued growth and progress.

    With the opening of its office at 33 Old Yaba Road, PalmPay continues to strengthen its presence in Nigeria and reaffirm its mission to drive financial inclusion through innovative digital solutions.

    PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

    PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.

    Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users and processes up to 15 million transactions daily. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh. For more information, visit www.palmpay.com

  • Flutterwave acquires open banking startup Mono

    Flutterwave acquires open banking startup Mono

    Flutterwave, Africa’s leading payments technology company and most valuable unicorn, has acquired Mono, a Y Combinator-backed Nigerian open banking infrastructure provider, in an all-stock transaction estimated between $25 million and $40 million.

    The acquisition integrates Mono’s API-driven platform, which enables businesses to securely access financial data, verify identities, track customer financials, and initiate account-to-account payments across multiple banks and fintechs.

    Often described as the “Plaid for Africa,” Mono has powered millions of bank account linkages and processed vast amounts of financial data, serving clients including major digital lenders and platforms like Moniepoint and PalmPay.

    Under the terms of the deal, Mono will continue to operate independently, with no changes to its leadership, team, or day-to-day operations.

    This structure allows Mono to leverage Flutterwave’s extensive reach, spanning over 30 African countries, local licenses, and payment rails, while maintaining its innovation pace and contributing its open banking technology to Flutterwave’s ecosystem.

    The move signals a shift in Africa’s fintech landscape toward bank-based, authenticated payment methods over traditional card rails, enhancing capabilities like faster onboarding, reduced fraud, and seamless direct payments.

    It also marks a rare meaningful exit in the African fintech space, providing liquidity for Mono’s investors amid a challenging funding environment.

    This acquisition kicks off 2026 with significant consolidation in African payments infrastructure, positioning Flutterwave to deepen its vertical integration and support the continent’s evolving digital economy.

    Commenting on the acquisition, Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said: “This acquisition reflects how we think about the future of financial infrastructure in Africa. Payments, data, and trust cannot exist in silos.

    Read Also: Court okays interim forfeiture of N213.2b 57 assets by Malami, sons

    Open banking provides the connective tissue, and Mono has built critical infrastructure in this space. This acquisition allows us to expand what’s possible for businesses operating across African markets, while staying grounded in security, compliance, and local relevance.”

    On his part, Abdulhamid Hassan, Founder and CEO of Mono, said: “We built Mono to unlock Africa’s Open Banking potential, and since our first partnership with Flutterwave in 2021 and working together over the years,

    “We’ve seen the power of a coordinated effort towards this goal. Mono’s capabilities across financial data access, direct bank payments, and identity verification, combined with Flutterwave’s unmatched scale and global reach, create something more defensible and comprehensive.

    “This acquisition allows us to build the infrastructure layer that powers the next generation of African fintech at the speed and scale the continent deserves.”

    At a time when Africa’s digital economy is demanding infrastructure that is
    open by design and built for trust, the investment signals a deliberate move toward systems that are interoperable, data-driven, and designed to support long-term growth across the continent.

    The transaction was advised by Nichole Yembra, Founder and Managing Partner at The Chrysalis Advisors Africa, who supported the parties through strategic positioning and execution.

  • Nigeria can earn $10bn yearly from cashew industry, says NCAN

    Nigeria can earn $10bn yearly from cashew industry, says NCAN

    Nigeria stands to earn as much as $10 billion annually from the cashew industry if appropriate policies, strategic investments, and effective value-addition measures are implemented, the National Cashew Association of Nigeria (NCAN) has said.

    The National President of NCAN, Dr Ojo Joseph Ajanaku, made this known during a press briefing in Abuja ahead of the forthcoming Nigeria Cashew Day.

    He said Nigeria has the landmass, human resources, and market access required to become a major global player in cashew production and processing, but is held back by weak policy frameworks, poor data management, and inadequate local processing capacity.

    Ajanaku explained that the Nigeria Cashew Day initiative, launched in Benin in 2023, was designed to convene stakeholders across the entire value chain from farmers and processors to marketers and service providers to highlight the enormous but largely untapped potential of the sector.

    He said the event, which moved to Enugu in 2024 and Lagos in 2025, is scheduled to hold in Abuja in 2026 to allow direct engagement with the federal government at the highest level.

    “Our aim is to have a national cashew policy that is owned by Nigerians, not one imposed by external interests. We want a policy that protects the industry, promotes organic cashew, and allows us to fully own what we produce,” Ajanaku said.

    He noted that while Nigeria has about 92 million hectares of land with over 34 million hectares of arable land currently unused, it still lags behind countries like Côte d’Ivoire, which has a far smaller landmass but records higher cocoa and cashew output.

    “With proper harnessing, the Nigerian cashew industry can create jobs for over 50 million Nigerians. There is nothing lacking; we have the land, the population, and the financial capacity to be the number one cashew producer in the world,” he said.

    Ajanaku emphasised the need for Nigeria to go beyond raw production and become a major processing hub, warning that exporting unprocessed cashew nuts results in huge losses in revenue, employment, and foreign exchange.

    He expressed concern that many top cashew-producing states do not have processing plants, pointing to Kogi State as an example.

    “Kogi is one of the leading cashew-producing states in Nigeria, yet it has no single cashew factory. If factories are located in producing areas, our children will be employed, and rural economies will grow,” he said.

    The NCAN president urged state governments to provide incentives that would attract investors to establish processing facilities, while also encouraging local entrepreneurs to invest in their states of origin.

    He also decried the lack of reliable production data, noting that Nigeria currently depends on export figures to estimate its cashew output.

    “We don’t have the correct statistical structure to determine how many cashews we produce. Worse still, a large volume of cashew leaves the country without records, as exporters bypass official procedures to avoid repatriating proceeds,” he said.

    Read Also: NCAN: we’re Nigeria’s apex cashew body

    According to NCAN, officially documented exports from the last season exceeded 400,000 metric tonnes, valued at about $700 million, although the actual volume is believed to be significantly higher.

    Ajanaku said Nigeria could increase production to more than 2 million metric tonnes annually within five years, and possibly surpass 4 million tonnes in the long term.

    “At a conservative price of $1,500 per tonne, producing 2 million tonnes would generate $3 billion, excluding by-products,” he explained.

    He further highlighted the economic value of cashew by-products such as Cashew Nut Shell Liquid (CNSL) and residue cake, which are often wasted locally but sell for about 95 cents per kilogram on the international market.

    “If we process what we produce locally and fully exploit the value chain, Nigeria can earn a minimum of $10 billion annually from the cashew industry,” he said.

    He, however, noted that the upcoming Nigeria Cashew Day would be used to demonstrate to global investors that Nigeria is ready to do business and capable of taking a leading role in the international cashew market, provided the right policy choices are made.

  • Independent marketers partnering Dangote may crash pump prices below N739

    Independent marketers partnering Dangote may crash pump prices below N739

    Some of the independent marketers partnering with Dangote Refinery may vend the pump prices of the Premium Motor Spirit (PMS) below N739 per litre very soon, The Nation learnt on Wednesday.

    It was also learnt that the refinery commenced the virtual training of the affiliate retail outlets staff on Tuesday.

    Soon after the training, the refinery will commence the free direct delivery of products to the filling stations affiliated to it.

    Some of the partnering companies are MRS, Ardova Petroleum (AP), Garima, Heyden and Optimal.

    The Nation reported in December that the partners aside from MRS were yet to vend petrol at the refinery’s rate because they were yet to receive the product from the direct delivery.

    Read Also: IPMAN urges Dangote franchise stations to comply with pump price

    Speaking with The Nation on phone, the Independent Petroleum Marketers Association of Nigeria (IPMAN), National President, Alhaji Abubakar Maigandi revealed that owing to the profit margin between the N699 per litre gantry rate and the N739/l, it is possible for some of the independent partners of the refinery to sell the product below N739/ litre.

    His words: “Some of the independent marketers that are will take the free delivery from Dangote may sell it lower than N739/l.

    ” If you check the gantry rate of N699/l, there is over N25/l profit that makes the adjustment easy in a competitive market.”

    The Nation observed that the petrol market in the Federal Capital Territory (FCT) hovered around N739 to N930 per litre.

    While MRS vended the product at N739/l with relative queues, A.A. Rano sold it at N840/litre as Total maintained N920/litre and other independent marketers sold it for N930/ litre and so on.

    The product was accessible hitch-free from the other retail outlets in accordance with the market fundamentals.

  • US introduces $15,000 visa bond requirement for Nigerians, others

    US introduces $15,000 visa bond requirement for Nigerians, others

    The United States has introduced new visa restrictions that may require Nigerians applying for B1/B2 (business and tourism) visas to post a bond of up to $15,000.

    According to information published on the U.S. Department of State’s website, Travel.State.Gov, the bond is a financial guarantee and does not guarantee visa approval. The State Department also warned that any bond paid without the explicit direction of a consular officer will not be refunded.

    The updated list released by the U.S. State Department on Tuesday shows that 24 of the 38 affected countries are in Africa, including Nigeria.

    Visa bonds are required for certain foreign nationals from countries classified by the U.S. as high-risk. The bond serves as a guarantee that visa holders will comply with the terms of their stay and depart the United States before their authorised period expires.

    Implementation dates vary by country. For Nigeria, the visa bond requirement will take effect on January 21, 2026.

    The Department of State explained that nationals of the listed countries who are otherwise eligible for B1/B2 visas will be required to post bonds of $5,000, $10,000, or $15,000, with the exact amount determined during the visa interview.

    Applicants will also be required to submit the Department of Homeland Security’s Form I-352 and agree to the bond terms through the U.S. Treasury’s online payment platform, Pay.gov, regardless of where the visa application is submitted.

    Countries affected by the directive include Algeria, Angola, Antigua and Barbuda, Bangladesh, Benin, Bhutan, Botswana, Burundi, Cabo Verde, Central African Republic, Côte d’Ivoire, Cuba, Djibouti, Dominica, Fiji, Gabon, The Gambia, Guinea, Guinea-Bissau, Kyrgyzstan, Malawi, Mauritania, Namibia, Nepal, Nigeria, São Tomé and Príncipe, Senegal, Tajikistan, Tanzania, Togo, Tonga, Turkmenistan, Tuvalu, Uganda, Vanuatu, Venezuela, Zambia and Zimbabwe with implementation dates ranging between August 2025 and January 2026.

    Read Also: U.S. Embassy to put visa issuance on hold in Nigeria, 18 other countries from Jan 1

    The directive further states that visa holders who post bonds must enter the United States through designated airports, including John F. Kennedy International Airport (New York), Boston Logan International Airport, and Washington Dulles International Airport (Virginia).

    Refunds will only be issued if the Department of Homeland Security confirms that the visa holder departed the U.S. on or before the expiration of their authorised stay, if the visa expires without travel, or if the traveller is denied entry at a U.S. port of entry.

    The development comes barely a week after the U.S. imposed partial travel restrictions on Nigeria and 14 other mostly African countries. In Nigeria’s case, U.S. authorities cited the activities of extremist groups such as Boko Haram and the Islamic State, which they said pose significant screening and vetting challenges.

    The U.S. government also pointed to Nigeria’s visa overstay rates of 5.56 per cent for B1/B2 visas and 11.90 per cent for F, M and J visas as justification. As a result, the restrictions cover both immigrant visas and non-immigrant categories, including B-1, B-2, B-1/B-2, F, M and J visas.