FG to seek review of 35 thousand Dollars business registration fee for Nigerians in Egypt.
Written by News Room on February 1, 2022
Minister of information and culture, Lai Mohammed, says the federal government will look into the possibility of seeking a review of the 35,000 dollars fee requested by Egypt from foreigners to operate a business enterprise in the country.
According to reports the minister said this during a recent meeting with the Nigerian community in Cairo, Egypt’s capital.
There are different fees for registering various categories of businesses in Egypt, including a limited liability company (LLC) nominee option said to cost 34,350 dollars.
The meeting was held on the sidelines of a bilateral discussion with the Africa Export-Import Bank (Afreximbank) on how Nigeria can access funding to support its growing creative industry.
Speaking at the meeting organised by Nura Rimi, Nigerian ambassador to Egypt, the minister described the deposit as unacceptable, saying it negates the unity that binds African countries.
Seun Fakorede
