NACCIMA to boycott investor’s discussion board over legitimacy considerations

The Nigerian Affiliation of Chambers of Commerce, Trade, Mines, and Agriculture has referred to as on Nigerian companies, authorities officers, and different stakeholders to boycott the Nigeria-India Investor’s Discussion board and Enterprise Expo, scheduled for November 17-18, 2024.

The PidomNigeria discovered NACCIMA filed a petition to the Minister of Foreign Affairs, Yusuf Tuggar, on November 17 describing the occasion, organised by a gaggle recognized as Nigeria India Enterprise Council India, as “unauthorised” and missing the required authorized recognition to function in Nigeria.

NACCIMA President, Dele Oye, acknowledged, “NIBC India is just not recognised as a authentic entity in Nigeria, and their actions to increase invites to numerous authorities companies and personal companies lack the required legitimacy.”

The affiliation expressed considerations about potential misrepresentation, highlighting that NIBC Nigeria is a authentic member of NACCIMA and the authorised physique answerable for advancing Nigerian enterprise pursuits in relations with India.

It warned that the actions of NIBC India might undermine established agreements and hurt bilateral commerce relations.

Oye additional cautioned stakeholders in opposition to collaborating within the occasion, citing attainable authorized and operational dangers, including “We strongly exhort all corporations, authorities officers, and stakeholders to chorus from partaking with this proposed occasion. Collaboration with a non-registered and unauthorized entity might end in extreme authorized and operational repercussions.”

NACCIMA has urged the Federal Ministry of Overseas Affairs to research NIBC India’s legitimacy and difficulty a public assertion dissuading stakeholders from partaking with the discussion board.

It additionally referred to as on the Nigerian international ministry to collaborate with it to make sure future initiatives between Nigeria and India meet moral and authorized requirements.

This correspondent contacted NIBC India for feedback however bought none earlier than submitting this report.