Investor Presentaiton
The Country and its
institutions
Business Organisation Labour and Social
and Regulation
Security Regulations
The Nigerian Financial
Services Industry
Tax System
Foreign Exchange
Transactions
Investment in Nigeria
Accounting and
Auditing Requirements
Importation of Goods
Exportation of Goods
COVID-19 Economic
and Fiscal Measures
1.4.10 Federal Ministry of Labour and Employment (FMLE)
The FMLE is responsible for industrial relations in general, including
conciliation in labour disputes, technical training (through the Industrial
Training Fund), manpower development, safety and welfare in the
workplace and supervision of trade union activities. It also oversees the
activities of the Nigeria Social Insurance Trust Fund.
1.4.11 Federal Ministry of Interior (FMI)
The FMI is generally responsible for maintenance of law and order. It has
oversight of the prisons, fire service, civil defence, public safety, citizenship,
immigration, emigration, the control and registration of aliens, including the
issuance of visitors' visas and residence permits.
Specifically, the Business and Citizenship Section of the Ministry is charged
with the responsibility of processing and granting applications for business
permit and expatriate quota, which allow foreigners to establish business
and take up employment in Nigeria.
1.4.12 Federal Ministry of Justice (FMJ)
The FMJ is the legal arm of the Federal Government of Nigeria. The
Ministry is primarily responsible for bringing cases before the courts on
behalf of the Federal Government. The Ministry is headed by the Minister
of Justice who is also the Attorney General of the Federation.
1.4.13 Federal Ministry of Communications and Digital Economy (FMCDE)
The FMCDE was established in 2011 as Federal Ministry of Communication
Technology. The main objective of the Ministry are as follows:
i.
To develop policies that will enhance the build-up of an accessible,
reliable and cost-effective telecommunications infrastructure across the
country;
ii. To drive, support and encourage the utilisation of the
telecommunications infrastructure through widespread ownership of
Information Communications Technology (ICT) devices; and
iii. To leverage ICT in driving the effectiveness and efficiency of the public
service.
The Ministry through one of its agencies, the Nigerian Communications
Commission, regulates the telecommunications sector in Nigeria.
1.4.14 Federal Ministry of Agriculture and Rural Development (FMARD)
The vision of the FMARD is to grow Nigeria's agricultural sector. The
Ministry's key objectives include: executing an agricultural transformation
agenda to support the Federal Government's intention of diversifying the
economy; utilising the transformation of the agricultural sector to create
jobs, create wealth and ensure food security; focusing on value chains
where Nigeria has comparative advantage; and developing strategic
partnerships to stimulate investments to drive a market-led agricultural
transformationā¹.
1.4.15 Bureau of Public Procurement (BPP)
The Public Procurement Act, 2007 established the Bureau of Public
Procurement as the regulatory authority responsible for the monitoring
and oversight of public procurement, harmonizing the existing government
policies and practices by regulating, setting standards and developing the
legal framework and professional capacity for public procurement in Nigeria.
1.4.16 Federal Ministry of Power (FMOP)
The FMOP is the policy making arm of the Federal Government focusing
on the electric power industry. FMOP is guided by the provisions of the
National Electric Power Policy (NEPP) of 2001, the Electric Power Sector
Reform (EPSR) Act of 2005, and the Roadmap for Power Sector Reform
of August 2010 in discharging its mandate of initiating and coordinating
policies and strategies for the sustainable development of reliable power
supply in Nigeria.
1.4.17 The Corporate Affairs Commission (CAC)
The CAC was established pursuant to Companies Allied Matters Act
(CAMA), and is responsible for administering the CAMA, including the
regulation and supervision of the formation, incorporation, registration,
management and winding-up of companies. It also has powers to arrange
and conduct investigation into the affairs of any Nigerian company, if and
when the interests of the shareholders and the public demand.
"The CAC is responsible for the regulation
and supervision of the formation,
incorporation, registration, management
and winding-up of companies"
13
Investment in Nigeria Guide - 8th Edition
9 http://www.fmard.gov.ng/
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