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01 May
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STEPS, REQUIREMENTS AND COST OF PROCESSING EXPATRIATE QUOTA, STR VISA AND CERPAC (RESIDENCE PERMIT) IN NIGERIA.

Posted by Barr Chinedu Okpi
in General Articles

STEPS, REQUIREMENTS AND COST OF PROCESSING EXPATRIATE QUOTA, STR VISA, AND CERPAC (RESIDENCE PERMIT) IN NIGERIA. A Foreigner who desires to invest in the Nigerian Economy or a Nigerian that wishes to engage the services of a foreign expert must make certain that a Business entity is registered with the Corporate Affairs Commission (CAC) as a Limited liability Company (LTD). Upon completion of the incorporation process with CAC, there are steps the Foreigner or his proposed Nigerian employers must take to make sure that the foreigner secures a residential address in Nigeria. Below are the step-by-step guide, requirements, and Cost of processing an...

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30 January
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HOW TO REGISTER WITH NIGERIAN INVESTMENT PROMOTION COMMISSION (NIPC) FOR A BUSINESS CERTIFICATE.

Posted by Barr Chinedu Okpi
in General Articles

The Nigerian Investment Promotion Commission (NIPC) is the government agency responsible for promoting and facilitating investment in Nigeria. In order to register with the NIPC and obtain a business certificate, you will need to follow a few steps.   Gather the necessary documents: To register with the NIPC, you will need to have a valid means of identification, such as a national ID card or passport, as well as proof of business registration, such as a certificate of incorporation or a business name registration certificate. Below is a comprehensive list of required documents for a NIPC Business registration certificate:   ·        Duly completed NIPC Form...

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25 January
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HOW TO RECOVER DEBT IN NIGERIA BY A CREDITOR

Posted by Barr Chinedu Okpi
in General Articles

Recovering debt in Nigeria can be a challenging assignment, but it is not unfeasible. There are varieties of means by which one can recover debt in Nigeria and they consist of legal action, Alternative Dispute Resolution (ADR), and through debt collection agencies. In this article, we will thrash out these methods in detail, together with the pros and cons of each and how to go about using them.   Legal action:   Legal action is one of the most efficient and effective ways of recovering debt in Nigeria. The Nigerian legal system makes available a choice of remedies for debt recovery, including the enforcement...

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20 January
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HOW TO PROCESS A NIGERIA UPSTREAM PETROLEUM REGULATORY COMMISSION NUPRC (Formerly DPR) LICENSES IN NIGERIA.

Posted by Barr Chinedu Okpi
in General Articles

Obtaining a license from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) formerly DPR under the Oil and Gas Industry Service Permit (OGISP), can be a complex and time-consuming process, and it's important to understand the specific requirements and processes involved.    Submit an Application (For Online processing)   The first step in the licensing process is to submit an application to the NUPRC (https://elps.nuprc.gov.ng/Account/Login). Create a Company Account at www.ogisp.nuprc.gov.ng Login with your Credentials (Email and Password) to begin the online Application Process which include: Select Application type Select Permit Category Select Services you wish to render in the industry Make Payment for the Permit through any of the acceptable...

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20 January
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HOW TO PROCESS A TEMPORARY WORK PERMIT (TWP) IN NIGERIA.

Posted by Barr Chinedu Okpi
in General Articles

Temporary work permits, also known as temporary foreign worker visas or short-term visas, are documents that allow individuals to work in a foreign country for a limited period of time. In Nigeria, temporary work permits are typically issued by the Nigeria Immigration Service (NIS) to individuals who wish to work in the country on a temporary basis. These permits are typically valid for a specific period of time and may be issued for a variety of purposes pertaining to specialized skilled services, such as after sales Installation /Commissioning/ Upgrading/Maintenance/Repairs of equipment and machinery, Training /capacity building for Nigerian staff, Audit...

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09 October
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HOW TO PROCESS A SPECIAL CONTROL UNIT AGAINST MONEY LAUNDERING (SCUML) COMPLIANCE CERTIFICATE

Posted by Barr Chinedu Okpi
in Business Articles, Corporate Matters, General Articles

The Money Laundering (Prohibition) Act and the Terrorism (Prevention) Act (TPA) all of 2011(as amended) are laws put in place to prohibit Money laundering in Nigeria and the Special Control Unit against Money Laundering is the governmental unit which collaborates with the efforts of the Economic and Financial Crimes Commission (EFCC) in implementing Nigeria’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime. To further guarantee that money laundering is reduced to the barest minimum, the above-stated laws assigned some businesses the appellation of a Designated Non-Financial Institutions (DNFIs) and one of the cardinal statutory obligations of the DNFIs after...

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02 September
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HOW TO PROCESS ALL RELEVANT GOVERNMENT CONTRACT DOCUMENTS (PENCOM, ITF, NSITF) AND A COMPREHENSIVE LIST OF ALL GOVERNMENT TENDERS AND BUSINESS OPPORTUNITIES

Posted by Barr Chinedu Okpi
in Business Articles, Corporate Matters, General Articles

The economic system of Nigeria being a blend of Government and private participation calls for synergy between both partners in progress to formulate a course of action that will ensure the best-qualified contractors, firms, and companies in line with the Public Procurement Act (PPA) 2007 secure the right or license to implement Government projects that best suits public interest. On the strength of the above premise, below are the eligibility requirements prospective bidders are obligated to present for a successful bid. Firstly, before an entity can be classified as a company capable of processing a PENCOM, ITF, and NSITF Compliance certificate for...

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10 January
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PIONEER STATUS AND OTHER MONETARY INCENTIVES AVAILABLE TO FOREIGN AND INDIGENOUS INVESTORS IN NIGERIA

Posted by Barr Chinedu Okpi
in General Articles

The successive and current government of the Federal Republic of Nigeria has deemed it expedient to adopt the international best practice of introducing a wide range of economic incentives and reliefs that would motivate investors to make Nigeria an investment safe haven These incentives and reliefs are meticulously captured in various laws of Nigeria, but most specifically in the Nigerian Investment Promotion Commission (NIPC) Act, Foreign Exchange (Monitoring and Miscellaneous provisions) Act, Customs and Excise Management Act, Industrial Development (Income Tax Relief) Act, Companies Income Tax Act and under the Minerals Act etc. The Nigerian investment promotion commission, being a parastatal under...

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21 December
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REGISTRATION REQUIREMENTS AND COST OF SECURITIES EXCHANGE IN NIGERIA.

Posted by Barr Chinedu Okpi
in General Articles

Below are the requirements and fees payable prior to registration with Securities and Exchange Commission of Nigeria.FEES  N5,000:00 (Five thousand naira only) being an application fee. N200,000.00 (Two hundred thousand naira only) being registration fee for the Company and N1,000.00 (one thousand naira only) for each sponsored individual. REQUIREMENTS Duly executed Form SEC 5 for the Exchange (The Company)and Forms SEC 2(in duplicate) for sponsored individuals who shall be principal officers of the Exchange (i.e Managing Director and Principal Officers). Please note that you are to sponsor at least four officers; one of which should be a Compliance Officer who shall be responsible for monitoring compliance...

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21 December
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RELEVANT INFORMATION REQUIRED TO PREPARE A TENANCY AGREEMENT

Posted by Barr Chinedu Okpi
in General Articles

The relevant information required to prepare a tenancy agreement.1. Name, address, and occupation of both the Landlord and tenants.2. Date the tenancy is expected to commence.3. A detailed description of the rented property.4. Duration of the tenancy.5. Rent to be paid and the method of payment, whether cash or online transaction.6. Any specific undertaking to be performed by Landlord and tenant.Thank you. ...

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