Business News of Friday, 4 September 2020
Source: Class FM
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The Ghana Union Traders Association (GUTA) has cautioned the government against reviewing the Ghana Investment Promotion Centre (GIPC) Act in favour of Nigerians who are in the retails business meant for Ghanaians.
President of GUTA Joseph Obeng speaking to Class News said: “We want to send a clear warning to the authorities; we shouldn’t wake up one day for us to hear that that law has been amended in favour of the Nigerians. We are not going to take it kindly. We will raise red flags because we cannot sit down for one country to dictate to us. We are watching with eagle eyes to see what will unfold in the coming days”.
The caution follows President Nana Akufo-Addo’s pledged to do whatever is necessary to strengthen the already-strong relations between Ghana and the Federal Republic of Nigeria when the Speaker of the House of Representatives of Nigeria, Femi Gbajabiamila, paid a courtesy call on him at Jubilee House, at the end of his two-day visit to Ghana on Thursday, 3 September 2020.
There’s been some sort of diplomatic row between the government of Ghana and Nigeria following a decision by the Committee on retail task force to implement the law that prohibits foreigners from doing retail business if they do not have the $1million minimum capital.
This led to the closure of several shops of foreigners in Accra and Kumasi.
Affected Nigerians petitioned their government to act because they felt victimized forcing Nigeria to release a statement saying it will tolerate the harassment of its citizens living in Ghana.
To settle the matter diplomatically, Speaker of the House of Representatives of Nigeria, Femi Gbajabiamila has met Ghanaian authorities and urged them to revisit the GIPC Act.
President Akufo-Addo in response said the Nigerian population in Ghana are safe and have thus formed a joint committee of Ghana Nigeria Business Council to address the trade issues.
Reacting to this development, GUTA insist the GIPC Act should not be touched to favour Nigerian traders.
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