October 24, 2022

AfCFTA: Shareholders ask FG to lift ban on import of products

AfCFTA: Nigeria must focus on $10m export advantage — SSA to Buhari

By Peter Egwuatu

Shareholders under the aegis of Independent Shareholders Association of Nigeria, ISAN, have called on the Federal Government to lift the ban on the importation of vital products to be able to benefit from African Continental Free Trade Area (AfCFTA) agreement.

The shareholder group also move for the harmonisation of favourable monetary and fiscal policies to be able to address the lingering inflation in the country.

Addressing newsmen on its forthcoming 7th triennial delegates’ conference and gala night scheduled to hold Thursday 27 October this year in Lagos, ISAN National Co-ordinator, Prince Dr. Anthony Omojola, said: “There is obvious need for the CBN and Ministry of Finance to use the instrumentality of the favourable monetary and fiscal policies to stem the ravaging hunger and inflation in the country. There should be un-banning of certain vital food imports in order for the country to benefit from the African Continental Free Trade Area (AfCFTA) agreement. The Federal Government should be able to grant tariff reliefs to certain industries and reducing taxes for some sectors to reduce operating cost of businesses.’’

He further disclosed that: “ISAN has been in battle of engaging the government on unclaimed dividend which Companies and Allied Matters Act, CAMA states becomes statute barred after 12 years and be returned back to the companies that declared it. However the new Finance Act has taken it to six years and created Unclaimed Funds Trust Fund. Thank God I have been nominated as one of the governing Council. So I will ensure shareholders are protected.’’ 

On its 7th triennial delegates’ conference, he said: “As the name states, is a three yearly event which all our members and all strategic stakeholders in the nation’s economy and the Nigerian capital market in particular always eagerly look forward to. This event is used to address issues that are pertinent to Economic Development and Corporate Governance.’’