Investor Presentaiton

(c) ■ ■ ■ The Fourth Council Meeting Conclusion: Council observed that corruption was being tackled and there was the need to further improve on management of resources at various levels of Government; Council noted the various efforts of Government on improving the economy, privatisation and image related issues; Council noted the assurances of Government on free and fair elections in 2007; The next HIIC Council Meeting (with in-coming President participating) is slated for the 3rd-4th May, 2007 in Abuja. Tracking of Public Sector Reforms - The Commission engaged in tracking of all Public sector reforms of the National economy and their implications on the repositioning of the NIPC. This led to the study of the National economic Policy thrust document NEEDS (National Economic Empowerment Development Strategy) and its implications to the Commission among others. It also helped in identifying the unfolding investment opportunities. LEGAL DUE DILIGENCE SEARCH The Commission conducted Legal searches at the Corporate Affairs Commission (CAC) on the companies that applied for the grant of either Business Permit or Pioneer Status. The aim was to detect companies that have doubtful information. This activity only commenced in 2004 and the Commission was able to uncover some companies that were not duly incorporated. This was also a new concept to ensure due diligence in the Commission activities. Verification visits were carried out on a number of organizations as to ascertain their existence as well as their claims as they seek the commissions approvals for operation. Signing of IPPA Agreement in Germany The Commission was represented at the signing of IPPA Agreement between Nigeria and Germany, which took place in Berlin, Germany on the 24th August 116

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