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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 transformationā¹. 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/ KPMG
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