NACCIMA to boycott investor’s forum over legitimacy concerns

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture has called on Nigerian businesses, government officials, and other stakeholders to boycott the Nigeria-India Investor’s Forum and Business Expo, scheduled for November 17-18, 2024.

The PUNCH learned NACCIMA filed a petition to the Minister of Foreign Affairs, Yusuf Tuggar, on November 17 describing the event, organised by a group identified as Nigeria India Business Council India, as “unauthorised” and lacking the necessary legal recognition to operate in Nigeria.

NACCIMA President, Dele Oye, stated, “NIBC India is not recognised as a legitimate entity in Nigeria, and their actions to extend invitations to various government agencies and private businesses lack the necessary legitimacy.”

The association expressed concerns about potential misrepresentation, highlighting that NIBC Nigeria is a legitimate member of NACCIMA and the authorised body responsible for advancing Nigerian business interests in relations with India.

It warned that the activities of NIBC India could undermine established agreements and harm bilateral trade relations.

Oye further cautioned stakeholders against participating in the event, citing possible legal and operational risks, adding “We strongly exhort all companies, government officials, and stakeholders to refrain from engaging with this proposed event. Collaboration with a non-registered and unauthorized entity could result in severe legal and operational repercussions.”

NACCIMA has urged the Federal Ministry of Foreign Affairs to investigate NIBC India’s legitimacy and issue a public statement dissuading stakeholders from engaging with the forum.

It also called on the Nigerian foreign ministry to collaborate with it to ensure future initiatives between Nigeria and India meet ethical and legal standards.

This correspondent contacted NIBC India for comments but got none before filing this report.