Monday July 28th 2014

Insight Areas

Nigeria: Laws Affecting Multinational Corporations

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Foreign affiliates of transnational corporations (TNCs) in Nigeria are likely subject to the laws listed below, which are not necessarily the entire set of laws to which a TNC is subjected.

  • Petroleum Profits Tax Ordinance No. 15 of 1959, effective: 1 January 1958; Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 151 (OS).
  • Trade Marks Act No. 29 of 1965, in force since June 1967; Source: WIPO (http://www.wipo.org).
  • Petroleum Profits Tax (Amendment) Decree No. t of 5 January 1967, effective: 5 January 1967; Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 189 (OS).
  • Trade Marks Act of 1965 (Commencement) Order, L.N. 60 of 1967; Source: WIPO (http://www.wipo.org).
  • Trade Marks Regulations of 1967, L.N. 70 of 1967; Source: WIPO (http://www.wipo.org).
  • Industrial Designs: Patents and Designs Decree No. 60 of 1970; Source: WIPO (http://www.wipo.org).
  • Patents: Patents and Designs Decree No. 60 of 1970, (F) IP 1973, 147; PI 1973, 151. Source: WIPO (http://www.wipo.org). 
  • Patents and Designs (Convention Countries) Order of 1971, L.N. 95 of 1971; Source: WIPO (http://www.wipo.org).
  • Industrial Development (Income Tax Relief) Decree No. 22 of 3 May 1971, effective: 1 April 1970; Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 71 (OS).
  • Patents and Designs (Additional Transitional and Saving Provisions) Order of 1972, L.N. 74 of 1972 (F) IP 1973, 158; PI 1973, 163; Source: WIPO (http://www.wipo.org).
  • Industrial Development (Income Tax Relief) (Amendment) Decree No. 42 of 31 October 1972, effective: 31 October 1972.
  • Petroleum Profit Tax (Amendment) Decree No. 15 of 13 April 1973, effective: 20 March 1971; Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 193 (OS).
  • Nigerian Tourist Board Decree No. 54 of 8 November 1976, effective: upon notification in the Gazette; Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1989, p. 213 (OS).
  • Petroleum Profit Tax (Amendment’) Decree No. 55 of 28 July 1977, effective: l October 1974, resp. I December 1974, resp. I April 1975 (percentage of assessable tax for accounting period) (OS); Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 19 (OS).
  • Petroleum Protit ‘Fax (Amendment) Decree No. 4 of 9 February 1979, effective: 1 April 1975; Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 201 (OS).
  • Companies Income Tax Decree No. 28 of 12 July 1979, effective: I April 1977; Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 91 (OS).
  • Petroleum Profit Tax (Amendment) No. 2 Decree No. 24 of 26 June 1979, effective: 1 April 1977; Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 203 (OS).
  • Industrial Promotion Decree No. 40 of 3 August 1979, effective: 3 August 1979; Source: Federal Republic of Nigeria, Official Gazette No. 37, vol. 66 of 9 August 1979, part A, p. 325 (OS), and International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 65 (os).
  • National Office of Industrial Property Decree No. 70, September 1979 Sections 1 to 9: (F) IP/PI, January 1981; Source: WIPO (http://www.wipo.org).
  • Petroleum Profits Tax (Amendment No. 3) Decree No. 95 of-2 8 September 1979, effective: 1 April 1977 (sec. 3, 4,5); 1 January 1978; Source: International Center for Settlement of Investment Disputes, Release 2, issued October 1981, p. 207 (Other sections).
  • Guidelines on the granting of business permits and expatriate quota to companies and other organizations; Source: Business Department, Federal Ministry of Internal Affairs, Federal Secretariat Complex, Lagos, January 1985 (OS).
  • Export (Incentives and Miscellaneous Provisions) Decree No. 18 of l I July 1986, effective: I 1 July 1986; Source: Supplement to Official Gazette No. 36, vol. 73 of 24 july 1986, p. A105 (OS).
  • Decree No. 25 on Privatisation and Commercialization of 5 July 1988; Source: World Bank, Technical Paper No. 186. “Divestiture of State Enterprises”. An overview of the legal framework.
  • Copyright Decree No. 47, December 1988 (Codified as chapter 68, Laws of the Federation of Nigeria, 1990); Source: WIPO (http://www.wipo.org).
  • Decree No. 54 of 30 December 1989 entitled “Nigerian Enterprises Promotion Decree 1989″. Repeals Nigerian Enterprises Promotion Decree 1977 and Nigerian Enterprises Promotion (Amendment) Decree No. 27 of 5 July 1976; Source: Official Gazette No. 76 of 31 December 1989. Repealed by Nigerian Enterprises Promotion. 
  • Decree Repeal of December 1994; effective on 1 January 1995; Sources: Official Gazette No. I of January 1995. Also in International Bureau of Fiscal Documentation ATS, supplement No. 94, March 1995.
  • Companies and Allied Matters Decree 1990. Repeals Companies Act of 1968 and Companies (Special Provisions) Decree No. 19 of 13 April 1973; Source: Official Gazette No. 2 of 9 January 1990.
  • Nigeria Export Processing Zones Decree 1991; Source: International Bureau of Fiscal Documentation ATS, Suppl. No. 94, March 1995.
  • Copyright (Amendment) Decree No. 98, December 1992; Source: WIPO (http://www.wipo.org).
  • Nigerian Investment Promotion Commission Decree 1995. Decree No. 16 of 15 July 1995; entered into force on 16 July 1995. Repeals the Industrial Development Co-ordination Commitee Decree No. 36 of 1989; Source: Supplement to the Official Gazette of the Federal Republic of Nigeria-Extraordinary No. 14, vol. 82 of 21st July 1995.
  • Foreign Exchange (Monitoring and Miscellaneous Provisions) Decree 1995. Decree No. 17 of 15 July 1995; entered into force on 16 July 1995. Repeals Decree No. 7 of 1984, Decree No. 18 of 1985 and Decree No. 23 of 1986. Modifies Cap. 35 of Bill of Exchange Act, Central Bank of Nigeria Decree 1991 and the Banks and Other Financial Institutions Decree 1991; Source: Supplement to the Official Gazette of the Federal Republic of Nigeria-Extraordinary No. 14, vol. 82 of 21st July 1995.
  • Petroleum (Amendment) Decree 23 of 1996; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Finance (Miscellaneous Taxation Provisions) Decree No. 30 1996; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Finance (Miscellaneous Taxation Provisions) (No. 2) Decree No. 31 1996; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Finance (Miscellaneous Taxation Provisions) (No. 3) Decree No. 32 1996; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Minerals and Mining Decree No 34 of 1999; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Investments and Securities Decree No 45 of 1999; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Trade Disputes (Essential Services Deregulation, Proscription and Prohibition from Participation in Trade Union Activities) (Repeal) Decree 12; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Finance (Miscellaneous Taxation Provisions) decree No. 18 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Finance (Miscellaneous Taxation Provisions) (No. 2) Decree No. 19 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Customs, Excise Tariff, etc. (Consolidation) (Amendment) Decree 20 of 1998 Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Taxes and Levies (Approved list for collection) Decree 21 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Petroleum (Amendment) Decree 22 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Petroleum Control (Repeal) Decree 23 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Nigerian Mining Corporation (Amendment) Decree 25 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Nigerian Coal Corporation (Amendment) Decree 26 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • National Steel Raw Materials Exploration Agency (Amendment) Decree 27 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Electricity (Amendment) Decree 28 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Wireless Telegraphy (Amendment) Decree 31 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Nigerian Investment Promotion Commission (Amendment) Decree 32 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Central Bank of Nigeria (Amendment) Decree 37 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Banks and other Financial Institutions (Amendment) Decree 38 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Banks and Other Financial Institutions (Amendment) Decree 40 of 1998.; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Central Bank of Nigeria (Amendment) Decree 41 of 1998; Source: Laws of the Federation of Nigeria (http://www.nigeria-law.org).
  • Copyright (Amendment) Decree No. 42, May 1999; Source: WIPO (http://www.wipo.org).
  • Guidelines for Management of External Reserves Through Partnership Arrangement Between Local and Foreign Banks, June 2006; Source: www.viewswire.com Nigeria regulations Aug 23rd 2006.
  • Liberalisation of the Foreign Exchange System, Feb 2006; Source: www.viewswire.com Nigeria regulations May 24th 2006

Source: World Investment Directory 2008: Africa by United Nations Conference on Trade and Development (UNCTAD)

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