Speaker of Nigeria's House of Representatives, Femi Gbajabiamila, has called on the Government of Ghana to revisit the $1m business capital law, which has become a pain in the neck of Nigerian business owners in the country.
President, National Association of Nigerian Traders, Ken Ukaoha, had revealed this while bringing the attention of the Nigerian Government to the latest attack on them in the country. He said, “First, amicable settlement of trade disputes through arbitration and fair judicial processes. In this context, we do believe that while it is the sovereign right of the government of Ghana to pass and implement the GIPC Act, we would implore you to explore alternative and less aggressive options of engaging, sanctioning and relating with our traders and business people who operate in your country, pay taxes and contribute to the development of both our nations.
“The prospect of them being able to raise a capital base of $1,000,000 before they can trade in goods that may be worth less than $1,000, clearly is a major challenge.