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Investor Presentaiton

The Country and its institutions 3.1 Legislation Business Organisation and Regulation Labour and Social Security Regulations The Nigerian Financial Tax System Services Industry Foreign Exchange Transactions Investment in Nigeria Accounting and Auditing Requirements Importation of Goods Exportation of Goods COVID-19 Economic and Fiscal Measures 3.2 Labour Unions Labour matters are overseen by the Ministry of Labour and Employment. Labour relations are regulated by the following pieces of Federal legislation: . Employee's Compensation Act, 201026; • The Factories Act, Cap F1, LFN, 2004; • Industrial Training Fund (ITF) Act, Cap 19, LFN, 2004 [as amended by the ITF (Amendment) Act, 2011]; Labour Act, Cap L1, LFN, 2004; • National Health Insurance Scheme (NHIS) Act, Cap N42, LFN, 2004; • National Salaries, Incomes and Wages Commission Act Cap N72, LFN, 2004; • Pension Reform Act, 2014; . Trade Disputes Act, Cap T8, LFN, 2004; Trade Disputes (Essential Services) Act, Cap T9, LFN, 2004; • Trade Unions Act, Cap T14, LFN, 2004; • Trade Unions (International Affiliation) Act, Cap T15, LFN, 2004; and Immigration Act, 201527. 3.3 3.4 The Trade Unions Act (TUA) Cap T14, LFN, 2004, requires a trade union to be registered before it commences operation. The minimum number of members of a trade union of workers is 50, except as authorised by the Minister of Labour and Employment. The Act prohibits any staff within the management structure of any organisation from being a member of, or holding office in, a trade union. Under the TUA, membership of trade unions is strictly voluntary. Consequently, an employee is entitled to refrain from joining a trade union and is guaranteed protection from victimisation for refusing to join the union. The Nigerian Labour Congress (NLC) was founded in 1975, as an umbrella organisation for trade unions, to add impetus to trade unionism in Nigeria. It was the sole central trade union organisation in Nigeria until the 1990s when the Trade Union Congress (TUC) was registered. The Trade Unions (International Affiliation) Act, Cap T15, LFN, 2004 regulates the capacity of the Nigeria Labour Congress and other trade unions to affiliate with related bodies outside Nigeria. Employers' Organisations The Nigeria Employers' Consultative Association (NECA) serves the interest of its members (employers of labour) in labour and industrial matters. It represents the members' interests in dealings with Government agencies and advises members on industrial matters affecting them. Apart from the NECA, there are other sector- based employer organisations, such as Association of Food, Beverages and Tobacco Employers. Trade Disputes The Trade Disputes Act (TDA), Cap T8, LFN, 2004, requires trade disputes to be settled first, at the company level, then by the Ministry, after which resolution of disputes lies with the Industrial Arbitration Panel and, lastly, the National Industrial Court (NIC), whose decision is final. The TDA confers exclusive jurisdiction over intra-and inter-union disputes on the NIC and limits appeals from its decisions to the Court of Appeal to only matters affecting fundamental human rights. The Trade Disputes (Essential Services) Act, Cap T9, LFN, 2004, makes it an offence for anyone to engage in acts calculated to disrupt the economy or obstruct the smooth running of any essential services, or for anyone to wilfully fail to comply with the procedure laid down in the Trade Disputes Act which, among other things, prohibits strike actions or lockouts whilst trade disputes are being resolved. 26 The Employee's Compensation Act repealed the Workmen's Compensation Act, Cap W6, LFN, 2004 27 Immigration Regulations 2017 was released to provide a legal framework for the effective implementa- tion of the Immigration Act, 2015 and consolidate existing Immigration Regulations in Nigeria. KPMG Investment in Nigeria Guide - 8th Edition 32
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