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www.spnglegal.com_____________________________________________________________________________________ INVESTMENT PROMOTION AND PROTECTIONOUTLINE1. Investment Promotiona. Regulatory Statute/Agencyb. Investment Incentives and Guarantees2. Investment Protection – Legal Frameworka. NIPC Actb. Bilateral Investment Treaties3. Dispute resolutionREGULATORY STATUTE/AGENCYIn order to encourage investments in Nigeria, the Federal Government has established a body known asthe Nigerian Investment Promotion Commission (the “Commission”) under the Nigerian InvestmentPromotion Commission Act, Cap N117, Laws of the Federation of Nigeria 2004 (“NIPC Act”). TheCommission is empowered to encourage, promote, and coordinate investments in Nigeria and provideservices for the grant of business entry permits, licenses, authorizations and incentives in a One-Stop-Shop environment.The One Stop Investment Centre (OSIC) commenced operations officially on the 20 th March, 2006 andprovides investors a coordinated, streamlined and efficient access to the registries of all relevantgovernment agencies and ministries in one location. This is aimed at simplifying the procedural steps forobtaining business approvals and shortens delivery time of the services required by investors.INVESTMENT INCENTIVES AND GUARANTEESA foreign investor engaged in any legitimate enterprise is guaranteed some incentives including thefollowing:1. Unconditional transferability of funds through an authorised dealer in free convertible currency ofdividends or profits (net of taxes) attributable to the investment;2. Payments in respect of loan servicing where a foreign loan has been obtained;_____________________________________________________________________________________Doing Business in NigeriaAn Investor’s Guide- 2013Page 32 of 36

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