Maritime Law :- How To Register A Licensed Shipping Company In Nigeria & Register a Joint Venture Vessel For a Cabotage Waiver
This article will be dealing with the registration of shipping companies in Nigeria and its regulatory requirements. Shipping companies are corporate entities engaged in rendering services revolving around the transportation of cargo by sea or from port to port.
We will thus be looking at the provisions of the regulatory framework on shipping company registration in Nigeria as follows :-
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Which agency is in charge of shipping company registration in Nigeria?
The Nigerian Maritime Administration and Safety Agency (NIMASA) is statutorily empowered with jurisdiction over the licensing and registration of shipping companies in Nigeria.
What is the minimum share capital for shipping companies in Nigeria?
The minimum share capital for shipping companies in Nigeria is 25 Million Naira.
What are the requirements for applying for registration as a shipping company in Nigeria?
– An application letter
– A receipt of payment for 110,000.00 Naira being the combined regulatory registration and application fee.
– A copy of the applicant’s memorandum and articles of association (MEMART)
– Evidence of filing annual returns
– Bank reference
– A current tax clearance certificate
– An audited account ir financial statement of account (you will need a financial statement if your company is less than 18 months old and audit reports if your company is over 18 months old).
What are the requirements for Cabotage waivers involving Joint Venture Vessels?
– Relevant Cabotage application forms
– A certificate of registry
– A detailed crew list
– A certificate of minimum safe manning
– Evidence of NIMASA registration
– A copy of the Joint Venture agreement
– Copies of the applicant’s memorandum and articles of association (MEMART)
– A Certified True Copy (CTC) of the Certificate of Incorporation of the applicant
– A current tax clearance certificate.
How To Set Up A Licensed Health Maintenance Organization (HMO) In Nigeria
A Health Maintenance Organization (HMO) is a company registered solely to manage the provision of healthcare services through health care facilities.
This article will be looking at how to register a HMO and the overall regulatory framework governing the creation/registration of HMOs in Nigeria.
Who is eligible to set up a HMO in Nigeria?
– Any group of people or an organization of individuals of proven and impeccable character may be eligible to firm a company and apply for registration as a HMO.
Which agency is in charge of regulating the registration of HMOs in Nigeria?
HMOs are regulated in Nigeria by the National Health Insurance Scheme (NHIS).
What are the functions of HMOs in Nigeria?
– The collection of contributions from registered employers and employees under private health insurance where applicable.
– The collection of contributions from voluntary contributors.
– Effect timely payments to primary facilities and fee-for-service to secondary and tertiary facilities.
– Ensure effective processing of claims (secondary services).
– Rendering to the scheme monthly returns on capitation and fee-for-service payment within 30 days of the following month.
– Collection & Submission of encounter date forms from Healthcare facilities to the NHIS.
What are the requirements for high-level employees of HMOs (Directors, CEOs, Managers or Secretaries) in Nigeria?
– No HMO shall appoint or have I Its employment a director, Chief Executive, manager or secretary if he :-
a). is of unsound mind or incapacitated by ill-health;
b). is convicted of any offence involving dishonesty or fraud;
c). is not a fit and proper person for the position;
d). is guilty if serious misconduct in relation to his duties.
What are the regulatory requirements for shareholders of a HMO in Nigeria?
– A company seeking HMO licensing shall have a minimum of 7(Seven) shareholders of proven integrity.
– The NHIS shall have the right to investigate their sources of funds.
– The NHIS shall have the right to conduct a background check on the shareholders.
– State governments may invest in HMOs. Such HMOs must meet all NHIS requirements and shall be accredited by NHIS.
What is the minimum share capital for HMOs in Nigeria?
The share capital requirements for HMOs in Nigeria are :-
– State HMOs – 100 Million Naira
– Zonal HMOs – 200 Million Naira
– National HMOs – 400 Million Naira
What are the regulatory requirements for HMOs regarding drug administration?
– HMOs should ensure that facilities adhere to the generic drug policy of the scheme.
– The NHIS shall negotiate the prices of drugs to ensure availability of drugs at affordable costs.
– The NHIS, HMOs & pharmacy facilities shall co-operate to build acceptable channels for the distribution of drugs and materials to eliminate fake & counterfeit drugs.
– The NHIS shall adopt drug utilization review programs in order to streamline the management of pharmaceutical care services.