Section 24 Nigerian Investment Promotion Commission Act

Section 24 Nigerian Investment Promotion Commission Act is about Investment guarantees, transfer of capital, profits and dividends. It provides as follows:

Subject to this section, a foreign investor in an enterprise to which this Act applies, shall be guaranteed unconditional transferability of funds through an authorised dealer, in freely convertible currency, of—

(a) dividends or profits (net of taxes) attributable to the investment;

(b) payments in respect of loan servicing where a foreign loan has been obtained; and

(c) the remittance of proceeds (net of all taxes), and other obligations in the event of a sale or liquidation of the enterprise or any interest attributable to the investment.

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