LEGAL FRAMEWORK & REGULATORY AUTHORITIES ON FOREIGN PARTICIPATION IN NIGERIA

	ENABLING LAW	REGULATORY AGENCY	PERMIT/APPROVAL/FUNCTIONS
1	Companies and Allied Matters Act (CAMA),cap C20 LFN 2004 S. 54	Corporate Affairs Commission (CAC)	Incorporation of Nigerian Companies for FDI and companies without exemption
2	Nigerian Investment Promotion Commission Act,CAP NII7,LFN 2004	Nigerian Investments Promotion Commission (NIPC)	Regulates & Promotes investment activities.  Registers a foreign company after incorp in Nig and before start of business-s.17NIPC act
3	Investment Securities Act (ISA)	Securities & Exchange Commission (SEC)	Regulates the registration of securities, records of FPI and FDI-s.8
4	Immigration Act	Nigerian Immigration Service (NIS)	Regulates the entry of aliens into the country.  supervises and grants visa, Business Permits, Residence perm, expatriate quota and work permit-s.8
5	National Agency for Technology Acquisition Promotion Act	National Agency for Technology Acquisition & Promotion (NOTAP)	Registration of technology transfer from foreigners to their partners in Nigeria.  Gives Certificate of Approval
6	Customs & Excise Management Act	Board of Customs	Regulates importation and exportation of goods.  Imposes import & export duties
7	Federal High Court Act	Federal High Court	Resolution of disputes arising from company matters
8	Foreign Exchange (monitoring & miscellaneous provisions) Act	Central Bank of Nigeria (CBN)	Capital importation through an Authorized Dealer.  Issues Certificate of Capital Importation
9	Industrial Inspectorate Act	Ministry of Trade & Investment	Supervises activities of manufacturing industries in Nigeria that wishes to incur capital expenditure – issues Certificate of Acceptance
10	Companies Income Tax Act (CITA)	Federal Inland Revenue Board -  Thisis the main body set up by the law.   Federal Inland Revenue Service (FIRS) is the operative arm which collects the taxes from companies	Regulates the taxation of company operating in Nigeria.     Located in the ministry of Finance.
11	Stamp Duties Act	Federal Inland Revenue Service	Prescribes the quantum of duties or taxes to be paid before registering certain document for incorp=→memo & Art
12	Constitution of Federal Republic of Nigeria	Administered by all the court in Nigeria	Regulates every activity
13	Land Use Act (1978)		Regulates the allocation of lands for commercial purposes in Nig.
14	National Insurance Commission Act	National Insurance Commission (NICOM)	Guides the insurance activities of companies
15	BOFIA	CBN	Regulates Banking activities of companies
16	EFCC Act
17	Money Laundering Act