AfCFTA, key driver for Africa’s economic recovery post COVID-19- Secretary-General Mr Wamkele Mene, Secretary General, Africa Continental Free Trade Area (AfCFTA) has described the AfCFTA as a driver for Africa’s recovery from the impacts of the coronavirus pandemic.He said it would drive recovery from impacts of the pandemic on the continent’s industralisation growth and development…
The news of the confirmation of Dr Mrs Ngozi Okonjo Iweala as the Director General of the World Trade Organization [WTO] was received by the LCCI with great excitement. There is no question that it is an appointment that is very well-deserved having regard to her pedigree, impeccable credentials, intellectual depth, and robust experience…
The Lagos Chamber of Commerce & Industry heartily felicitates with Nigeria on the appointment of Dr Ngozi Okonjo-Iweala as the Director General of the World Trade Organization (WTO). It is a great delight being the First Female and First African to head the WTO since its formation in 1995 [replacing the General Agreements on Tariffs…
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29 October, 2020; Lagos, Nigeria: The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and a leading voice in the organised private sector (OPS) in Nigeria, has postponed the 2020 edition of the Lagos International Trade Fair. According to the Chamber, the fair which will feature both physical (In-person) and virtual…
LCCI PRESS RELEASE ON THE ECONOMIC IMPLICATIONS OF ENDSARS PROTESTS Oct 20, 2020 The Lagos Chamber of Commerce and Industry (LCCI) wishes to express its condolences to the families of all who have lost their lives through the brutal actions of the police and all those who have suffered in one way or the other…
LAGOS CHAMBER OF COMMERCE AND INDUSTRY PRESS RELEASE NIGERIA CUSTOMS SERVICE: IMPERATIVE OF URGENT REFORMS Customs processes and procedures for the clearance of cargo at the ports is one of the biggest challenges currently faced by the business community. It is severely hurting investors and adversely affecting economic recovery efforts. The situation calls for…
The LCCI notes with concern the proposal by the Nigeria Labour Congress [NLC] and the Trade Union Congress [TUC] to proceed on strike from Monday 28th September 2020. The LCCI appreciates the perspective of the labour unions with regards to the pains and hardship that the recent price hikes in petrol and electricity will inflict…
The Company and Allied Matters Act [2020] was assented to by President Muhammadu Buhari, GCFR on Friday 7th August 2020. The legislation and the subsequent assent were widely applauded by the business community. However, six weeks after, the legislation is yet to be gazetted. The implication of this is that the formal copy of the…
We refer to the Central Bank of Nigeria [CBN] circular of 24th August which directs that Form M for Letters of Credit, Bills for Collection and other forms of payment should only be opened in favour of the ultimate supplier of a product or service. While the Lagos Chamber of Commerce appreciates the efforts of…