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Section 38 Nigeria Startup Act Section 38 Nigeria Startup Act 2022 is about Accelerator and incubator programmes. It is under Part IX (Accelerators and Incubators) of the Act. (1) The Secretariat shall, in realising the objectives of this Act, establish accelerator and incubator programmes for startups. (2) The Council shall, for the purpose of subsection…
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Section 37 Nigeria Startup Act Section 37 Nigeria Startup Act 2022 is about Repatriation of capital and profits. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Secretariat shall collaborate with the CBN to guarantee repatriation of investment by a foreign investor through the CBN’s authorised dealer in freely convertible currency…
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Section 36 Nigeria Startup Act Section 36 Nigeria Startup Act 2022 is about Listing of startups on exchanges. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Council shall assist labelled startups that seek to list on the relevant board of the Nigerian Exchange Limited (NGX), or on similar stock and…
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Section 35 Nigeria Startup Act Section 35 Nigeria Startup Act 2022 is about Participation of a labelled startup in regulatory sandboxes. It is under Part VIII (Collaboration with Regulators) of the Act. (1) A labelled startup intending to participate in the CBN’s regulatory sandbox, SEC’s regulatory incubation programmes, or any other regulatory sandbox programmes set…
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Section 34 Nigeria Startup Act Section 34 Nigeria Startup Act 2022 is about Obtaining licences for a financial technology startup. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Secretariat in conjunction with the CBN and SEC shall —(a) designate a separate section on the Startup Portal to ease the licensing…
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Section 33 Nigeria Startup Act Section 33 Nigeria Startup Act 2022 is about Transfer of foreign technology. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Secretariat, in conjunction with the National Office for Technology Acquisition and Promotion (NOTAP) shall —(a) designate a separate section on the Startup Portal to ease…
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Section 32 Nigeria Startup Act Section 32 Nigeria Startup Act 2022 is about Crowdfunding. It is under Part VIII (Collaboration with Regulators) of the Act. (1) Startups may raise funds through crowdfunding intermediaries and commodities investment platforms (“platforms”) duly licensed by the Securities and Exchange Commission (SEC) that would have their platforms available for use…
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Section 31 Nigeria Startup Act Section 31 Nigeria Startup Act 2022 is about Protection of intellectual property rights. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Council acknowledges the importance of intellectual property rights towards the growth and development of a startup. (2) As part of its objectives, the Secretariat…
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Section 30 Nigeria Startup Act Section 30 Nigeria Startup Act 2022 is about Collaboration with the Corporate Affairs Commission. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Secretariat shall collaborate with the Corporate Affairs Commission (the Commission) to designate a separate section on the Startup Portal to ease the processes…
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Section 29 Nigeria Startup Act Section 29 Nigeria Startup Act 2022 is about Incentives and reliefs for investors investing in a labelled startup. It is under Part VII (Tax and Fiscal Incentives) of the Act. (1) The Federal Government, through the Federal Ministry responsible for Finance and other MDAs, shall develop and implement a national…