NACCIMA wants FG to probe Nigeria-India investors’ forum organiser

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has called on the Federal Government to investigate the organiser of the upcoming Nigeria-India Investors’ Forum and Business Expo, slated for November 17 and 18, 2024.

In a petition addressed to Yusuf Tuggar, the Minister of Foreign Affairs, Dele Oye, NACCIMA’s National President, accused the event organiser, the Nigeria-India Business Council (NIBC) India, of operating without proper registration and authorisation in Nigeria.

Oye noted that NIBC India is not recognized as a legitimate entity in Nigeria and lacks the authority to organize such an event.

According to NACCIMA, the only officially recognized body representing Nigerian interests in business relations with India is NIBC Nigeria, a legitimate member of the association.

“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 has no affiliation with the planning, organization, or execution of this event”, Oye stated.

Oye warned that NIBC India’s actions could mislead participants, misrepresent existing agreements, and jeopardize Nigeria-India trade relations.

NACCIMA expressed concern that participating in the event could lead to violations of bilateral agreements between Nigeria and India.

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

“Moreover, there are potential implications for compliance with Nigerian laws regarding criminal activity and immigration due to the lack of credibility of the organizing body”, Oye said.

Oye also advised businesses, government officials, and stakeholders to steer clear of the event, warning of potential legal and operational consequences.

NACCIMA has urged the federal government to take swift action by investigating the legitimacy of NIBC India, issuing a public warning to dissuade stakeholders from participating, and ensuring future events involving foreign entities adhere to proper protocols.

“We respectfully urge your esteemed office to intervene in this matter by investigating the legitimacy of NIBC India and collaborating with NACCIMA to maintain ethical and transparent trade relations,” Oye said.

The petition was copied to several stakeholders, including the Confederation of Indian Industry (CII), the Ministry of Industry, Trade, and Investment, the Indian High Commissioner, and NIBC Nigeria’s leadership.

Oye also reaffirmed NACCIMA’s commitment to fostering legitimate trade partnerships between Nigeria and India, emphasizing the importance of ethical conduct and transparency in all foreign engagements.

The call for a probe comes just hours after President Bola Tinubu hosted Indian Prime Minister Narendra Modi on Sunday, sparking renewed interest in Nigeria-India trade relations.