$1M Registration Fee: Onyeama Reacts To Closure Of Nigerian Businesses In Ghana

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The Federal government has announced it will take urgent steps to address the issue of Nigerian shops closed in Ghana.

Minister of Foreign Affairs, Geoffrey Onyeama stated this on his twitter handle, @GeoffreyOnyeama, on Monday, August 17, 2020.

He said: “Nigerian Government has watched with dismay the painful videos of the forceful closure of the shops of Nigerian traders in #Ghana. Urgent steps will be taken.”

Videos had surfaced on Social media where shops of Nigerians doing business in that country were closed down by Ghanaian authorities.

According to reports, shops belonging to Nigerian traders in Accra were locked up by Ghanaian authorities who demanded cash payment of $1million from them before the shops would be opened.

The Ghanaian authorities demanded evidence of their Ghana Investment Promotion Council (GIPC) registration.

The requirement for the GIPC registration is $1 million minimum foreign equity, while registration fee is 31,500 cedis.

'Dotun Akintomide
'Dotun Akintomide
'Dotun Akintomide's journalism works intersect business, environment, politics and developmental issues. Among a number of local and international publications, his work has appeared in the New York Times. He's a winner of the National Youth Service Corps (NYSC) Award. Currently, the Online Editor at The New Diplomat, Akintomide has produced reports that uniquely spoke to Nigeria's experience on Climate Change issues. When Akintomide is not writing, volunteering or working on a media project, you can find him seeing beautiful sites like the sandy beaches that bedecked the Lagos coastline.

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