GIPC — Why We Locked Up Shops Of Some Nigerian Traders

Ghanaian authorities have explained why they locked up some Nigerian-owned shops in the country amid an ongoing controversy about the Ghana Investment Promotion Council (GIPC) registration.


Recall LIB reported earlier that the requirement for GIPC registration is $1 million minimum foreign equity, while registration fee is 31,500 cedis.

Reacting to the controversy that has trailed the GIPC registration in an interview with Starr News, Boakye Boateng, the head of communications in the country’s trade ministry said it would be unfair for the Nigerian traders to complain of insensitivity.

He further alleged that the traders were pardoned for over a year following the intervention of President Nana Akufo-Addo.

Boateng said;
“It cannot be that we’ve been insensitive. If that is what they’re saying, I’ll be disappointed because I’ll rather say they have rather been unfair to us as a regulatory body because we have given them more time than enough to the extent even the Ghanaians thought that the ministry was not on their side or the ministry wasn’t ready to even enforce law.

“So, it’s very surprising to me for them to say that we’ve not given them enough time.

If you recall as far back as December last year, these shops were locked, the president intervened and we asked that the shops be re-opened because the very law that gives GUTA the right to be the sole traders in our market, that same law requires that a certain group of people are those who can go and do law enforcement and not you, so allow us to do our work.

“They complied, the shops were opened. Since then we have given them an opportunity to regularise the document and submit it to us for verification, that has not been done.

Now, this exercise started from Abossey-Okai on Monday. Because we have never been to Abossey-Okai for this exercise, when we went there we did not just start locking shops. We went there, we inspected the shops and we gave them notices that in 14-days they should ensure that all their necessary documentations be complete.

These people have been served notices for over a year now.”