Nigerians pay N14m to register business

Information Minister Lai Mohammed has decried the 35,000 U.S. dollars (about N19.2 million) deposit being requested by Egyptian Authority from foreigners including Nigerians to operate a business enterprise in that country.

Mohammed described the condition as unacceptable during a meeting with the Nigerian community in Cairo.

The  meeting was on the sideline of a bilateral discussion with Africa Export Import Bank (Afreximbank) on how Nigeria can access funding to support its growing creative industry.

Mohammed had led some private sector stakeholders involved in Digital Switch Over (DSO) to Afreximbank to assist them on how they can source fund to complete the wholly private sector financially driven project.