NACCIMA asks FG to probe ‘unregistered’ entity hosting Nigeria-India investors’ forum

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has asked the federal government to probe the organiser of the Nigeria-India investors’ forum and business expo, planned for November 17 and 18, 2024.

The petition comes hours after President Bola Tinubu hosted Indian Prime Minister Narendra Modi on Sunday.

In a petition addressed to Yusuf Tuggar, the minister of foreign affairs, Dele Oye, NACCIMA’s national president, said the organiser — the Nigeria-India Business Council (NIBC) India — is operating without proper registration and authorisation.

Other stakeholders copied in the petition are the Confederation of Indian Industry (CII), the ministry of industry, trade and investment, the Indian high commissioner, Emeka Offor; president of NIBC Nigeria, and the secretary of the Nigeria-India Business Council.

“On behalf of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), I hereby submit this petition to formally address our concerns regarding the forthcoming Nigeria-India Investor’s Forum and Business Expo scheduled for November 17 to 18, 2024,” Oye said.

“This event has been announced by an entity known as NIBC India, which we assert is operating without proper registration and authorisation within Nigeria.

“NACCIMA wants to make it clear that we have no affiliation with the planning, organisation, or execution of this event.

“NIBC India is not recognised as a legitimate entity in Nigeria, and we believe that their actions to extend invitations to various government agencies and private businesses lack the necessary legitimacy.”

Oye said only the NIBC Nigeria is officially recognised as a legitimate member of NACCIMA and represents Nigerian interests in business relations with India.

‘PARTICIPATION COULD LEAD TO VIOLATIONS OF BILATERAL AGREEMENTS BETWEEN NIGERIA, INDIA’

He said NACCIMA is concerned that the activities of “NIBC India might mislead participants and misrepresent” the foundational agreements and efforts that NIBC Nigeria has established.

“This misrepresentation could adversely affect the credibility of both parties involved in Nigeria-India trade relations,” Oye said.

“We believe that participation in this unauthorised forum could lead to violations of existing bilateral agreements between Nigeria and India.

“Moreover, there are potential implications for compliance with Nigerian laws regarding criminal activity and immigration that must be closely scrutinised due to the lack of credibility of the organising body.”

Oye also advised all companies, government officials, and stakeholders to avoid engaging with the event.

He said collaboration with an unregistered and unauthorised entity could have severe legal and operational consequences.

“We respectfully urge your esteemed office to intervene in this matter by: Investigating the legitimacy of NIBC India; issuing a public statement to dissuade Nigerian stakeholders from participating in the mentioned forum; and collaborating with NACCIMA to ensure that any future initiatives involving Nigeria and India adhere to the required standards of propriety and ethical conduct,” he said.

“NACCIMA remains dedicated to fostering legitimate trade relationships between Nigeria and India.

“We are prepared to work closely with your office and relevant authorities to ensure that foreign entities engage with Nigerian businesses ethically and transparently.”

Oye thanked the minister for supporting diplomatic and trade relations and expressed hope that immediate action would be taken to address NACCIMA’s concerns.