Post-Incorporation Statutory Registrations

NIGERIA INVESTMENT PROMOTION COMMISSION (NIPC)

The Nigeria Investment and Promotion Commission Act provides that any enterprise in which there is foreign participation must be registered with NIPC. The Act permits foreigners to own up to 100% of any business with the exception of businesses under the negative list. The negative list includes companies involved in the production of and dealing in arms, ammunition, narcotic drugs and psychotropic substances.

TRANSFER OF TECHNOLOGY AGREEMENT APPROVAL

Any agreement under which a foreigner is to provide foreign technology, management, or assistance, to a Nigerian company must be approved by the National Office for Technology Acquisition and Promotion (NOTAP). Fees to be paid for the provision of such technology or services must be approved by NOTAP.