THE PUBLIC SPHERE with Chido Nwakanma
Firms and individuals seeking to do business with Ministries Departments and Agencies of the Federal Government must scale a high barrier. The Government requires that they secure a “certificate of compliance” from no fewer than seven government agencies. Without those certificates, they cannot offer services.
The mandatories are CAC certificate of business registration, registration with the Federal Inland Revenue Service for VAT, withholding tax and corporate tax and registration and payments with the Nigerian Social Insurance Trust Fund. The firm or consultant should also have three years’ tax clearance certificate, PENCOM registration certifying a minimum of three staff and pension payment for those minimum three staff for at least three years at a minimum of N180, 000 per head.
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There are various laws governing employment-related matters in
Nigeria. Some of these employment laws include the Nigerian Labour
Act, the Pensions Act, the Industrial Training Act, Employee
Compensation Act, Trade Unions Act, among few others. In this
write-up, we will briefly the impact of some of these laws on
employment matters in Nigeria.
The Labour Act
The Nigerian Labour Act 1971 is the principal law that governs
employment-related matters and the relationship between an employer
and employee in Nigeria. The Act uses the word workers
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The Oil and Gas sector serves as a major source of revenue in
Nigeria. Any person intending to start an oil and gas business in
Nigeria must comply with the certain legal requirements. This
write-up will give a breakdown of the step by step procedure
necessary to set up oil and gas business in Nigeria.
The following steps must be followed to start an oil and gas
company in Nigeria:
Registration of Company
Registration at Corporate Affairs Commission
This applies to all businesses owned by nationals, foreigners or