Laws & Regulations

Nigeria’s central bank on Monday will start issuing electronic certificates for capital imported into the country, in a bid to improve its currency transfer process, it said.

The federal government has signed a joint declaration on Economic Cooperation with the European Free Trade Association (EFTA) in Buenos Aires, Argentina, on the sidelines of the World Trade Organisation (WTO) 11th Ministerial Conference.

Disbursement of funds for the Agri-Business, Small and Medium Enterprises Investment Scheme (AGSMEIS), an initiative of the Bankers' Committee has commenced.

Government is amending the Indigenisation and Economic Empowerment Act to reflect its policy position that the 51-49 percent requirement only applies to natural resource-based investments.

The Nigeria Customs Service, NCS, says the country has implemented about 70 per cent of the requirements of the ECOWAS Common External Tariff, CET.

Nairobi — The government is set to unveil a National Export Development and Promotion Strategy with the aim of growing the country's exports to the rest of the world by 20 per cent per annum by 2022.

Nigerian President Muhammadu Buhari presented a record 8.6 trillion naira ($28.16 billion) budget for 2018 on Tuesday to foster shaky growth in Africa’s largest economy as it emerges from its first recession in 25 years.

Abuja — A bill for an Act for the establishment of National Tea and Coffee Development Council to develop commercial cultivation of the produce in the country has passed second reading in Senate.

Kenya will resume plans for small-scale oil exports in December after suspending it in June, the Energy ministry has said.