You can’t violate our trade laws – Trade Ministry to foreigners engaged in retailing

Over one hundred retail shops belonging to foreigners at Circle have been closed down in an exercise led by the Presidential Committee on retail trade.

The exercise which started peacefully later turned chaotic.

The Presidential Committee in the company of the Police arrived at Circle at about 11 am Thursday, August 13.

Public Relations Officer of Ministry of Trade and Industry Prince Boakye Boateng explained that the Committee is only enforcing Section 27, Clause 1 of the GIPC Act.

“We came here today to lock-up shops, we did not come here to inspect legal documents. We have been here several times and when we came here earlier on we asked them to ensure that they have complied with the necessary regulatory requirements.

“The business should have been registered at the Registrar General Department, we are also saying that if you are a foreigner and you are trading in this country you must have the necessary residence and work permit to be in this country.

“There must be proof that you have paid your taxes. You should prove that you have invested at least one million dollars in your capital. So if you don’t have that then it means that you are not part of this country,” he said.

But speaking on the 360 News, Chuku Emeka, President of the Nigerian Traders Association said: “We will negotiate with them we didn’t know they were coming to close down the shop.”

He further explained that they were not informed about the exercise that closed the shops.

“We were not resisting the task force not to close the shops. They failed to communicate with us, they failed to explain to us.

“They are being economical with the truth. The last time we met they told us to regularize our documents which we did. More than 90 percent of our members have done that. They told us they were coming to check how many people that have complied, that was the information they gave us before coming today.

Must Read


Please enter your comment!
Please enter your name here

Related News