How to do business in Nigeria Legal considerations
Corruption is a considerable barrier to business in Nigeria, which investors should be aware of. Nigeria was ranked 136th out of 176 in Transparency International’s Corruption Perceptions Index 2016. See: http://www.transparency.org/news/ feature/corruption_perceptions_index_2016.
Refer to the Bribery Act 2010 at: https:// www.gov.uk/government/publications /bribery-act-2010-guidance for guidance on UK bribery standards. Bribery of customs and port officials remains common, and smuggled goods routinely enter Nigeria's seaports and cross its land borders.
You should be aware of the existence of variations of the 419 scams in Nigeria, including those involving enticing foreign businessmen into bogus deals. If you are in any doubt about the legitimacy of the contacts, please contact the DIT team in Nigeria at: https://www.gov.uk/government /world/organisations/department-forinternational-trade-nigeria#contact-us.
Nigeria has implemented some protectionist measures, such as preference given to ‘Made in Nigeria’ goods and services for all oil and gas projects. Also guidelines for Nigerian Content Development in the ICT sector, which would force local manufacturing and use of Nigerian-made software, hardware and telecommunication products in a range of ICT goods and services. There are a number of laws and regulatory bodies that specialise in different areas.
It is therefore strongly recommended that UK companies entering into agreements in Nigeria undertake legal advice.
Consult legal professionals in Nigeria at: https://www.gov.uk/government/publications/ nigeria-list-of-lawyers to avoid costly mistakes and ensure you start out in the way that is best suited to your sector of activity.
Import restrictions in Nigeria The Nigerian Customs Service has details of prohibited goods in Nigeria. See: https:// www.customs.gov.ng/ProhibitionList/ import.php, or contact the Nigerian High Commission in the UK at: http://www. nigeriahc.org.uk/.
Arms embargo on Nigeria The export of military items to West African States is controlled as a result of UK export control policy and legislation, and the agreement of the Economic Community of West African States (ECOWAS), which includes Nigeria.
You must have a licence to supply anything on the UK strategic export control lists to Nigeria. Exporters can apply for an export licence for their goods. However, these might be approved or refused on a case-by-case basis. See the UK Government guidance on Embargoes and sanctions on West African States: https://www.gov.uk/guidance/armsembargo-on-west-african-states for more information. Contact the UK Export Control Organisation at: https://www.gov.uk/ government/organisations/export-controlorganisation for more information on the arms embargo.
www.Nigeria.DoingBusinessGuide.co.uk
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