Bills to mandate multinational companies operating in the country to appoint qualified Nigerians as their Chief Executive Officers have passed first reading in the House of Representatives.

The proposed legislation titled, “Multinational Companies Appointment of Chief Executives (Regulatory) Bill, (HB 1933) and Nigerian Oil and Gas Industry Content Development Act (Amendment) Bill (HB 1934),” is sponsored by Hon. Doctor Farah Dagogo.

The Multinational Companies Appointment of Chief Executives (Regulatory) Bill stipulates that any multinational company that contravenes it would have committed an offence and be convicted.

It states: “Without prejudice to the extant Federal Character Commission Act or any relevant applicable legislation, any appointment for the position of Chief Executive Officer of any multi national company shall be reserved for a qualified Nigerian with requisite knowledge, proven integrity, cognate experience and capacity to provide leadership in the industry.

In Clause 3, it states that any multinational company in Nigeria which contravenes the provisions of this bill through its officers or proxies, commits an offence and shall, on conviction be liable to such penalty as may be prescribed by regulations issued under this Bill.”

On the other hand, the Nigerian Oil and Gas Industry Content Development Act (Amendment) Bill states that: “The Board shall implement the provisions of this Bill to ensure a measurable and continuous growth of Nigerian content in oil and gas arrangements, projects, operations, activities or transactions in the Nigerian oil and gas industry.”

Follow Our WhatsApp Channel ______________________________________________________________________________________________________

[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials

“Evidence Act: Complete Annotation” by renowned legal experts Sanni & Etti.

Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation

______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence

Interested buyers are encouraged to place their orders and enquiries via: 0704 444 4777, 0704 444 4999, 0818 199 9888 Website: www.alexandernigeria.com

______________________________________________________________________