The Nigerian Ministry of Interior has recently published a revised handbook with guidelines on how employers should regulate their foreign workers. According to the revised rules, a foreign company that is fully owned by Nigerian nationals or jointly by foreign nationals, conducting business in Nigeria, must have a minimum capital of NGN 100 million when applying for a business permit (up from NGN 10 million as previously published in the last edition of the handbook); the validity period for foreign employees has been reduced to three years with the possibility of renewal once every two years within a seven-year period, instead of the previous ten-year validity period (foreign companies may additionally extend their foreign employees’ employment contract for one additional year to complete a project); a new rule requiring each employer to hire two Nigerian employees with a tertiary qualification or a relevant training certificate for every one foreign national employed, to learn a foreign national’s duties; and lastly, a new rule requiring a foreign company to include all their foreign employees’ National Identification Numbers when submitting monthly returns.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
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