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

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

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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PROGNOSIS OF STUNTED NIGERIA YOUTHS

  Enough is enough! I’ll raise my kids to be either intellectual sports persons/interpreneurs…. Never a serial job seekers nor political leaders of tomorrow. We were fed that mantra throughout our lives without actually taking the reins of leadership or gaining employment. Baba is old and in all honesty, has zero or nothing to offer Nigeria. Baba has no future at stake …. So either way, he will care less. I never supported his being re-elected (my humble opinion), he never supported his second tenure too in the first place (he promised only one term) so don’t judge me. However what I do understand is...

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

The successive and current governments of the federal republic of Nigeria has deemed it expedient to adopt the international best practice of introducing a wide range of economic incentive and reliefs that would motivate investors so as 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...

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REGISTRATION REQUIREMENTS AND COST OF SECURITIES EXCHANGE IN NIGERIA.

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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RELEVANT INFORMATION REQUIRED TO PREPARE A TENANCY AGREEMENT

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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REQUIREMENTS AND PROCESS FOR ISSUANCE OF PENCOM ,NATIONAL SOCIAL INSURANCE TRUST FUND (NSITF) AND INDUSTRIAL TRUST FUND (ITF) COMPLIANCE CERTIFICATES IN NIGERIA

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, it will be pertinent to take an in-depth look at the requisite documents and processes expedient to the issuance of a Pencom, NSITF, and ITF Compliance certificates in Nigeria. PENCOM COMPLIANCE CERTIFICATE A copy of the certificate...

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How to Obtain Expatriate Quota and Business Permit in Nigeria: A Step by Step Guide

Expatriate quota/business permit is consent in writing issued by the Minister of Interior on behalf of the Federal Government of Nigeria to an applicant company (be it a joint venture, wholly foreign, or Nigerian owned) to employ a foreign expert to a specifically designated job description. To put it more aptly, Expatriate quota slots are granted to a company registered with the Corporate Affairs Commission (CAC) and not to individuals. Therefore it is the duty of the company and not that of the employees to obtain an expatriate quota. Expatriate quota has been divided into two and they are: PERMANENT UNTIL REVIEWED (PUR)...

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