10/02/2024
CLIENT ALERT:
Compulsory Submission of Monthly Returns on Expatriate Quota
Please note that the Federal Ministry of Interior now requires all
companies that utilize expatriate quota positions in Nigeria to submit monthly returns covering details of the expatriates, together with their Nigerian understudies. Where a company fails to comply or complies late from January 2024, the following penalties shall apply.
1. A company that submits its monthly expatriate quota returns after the first ten (10) days of the following month will be liable to pay One Hundred Thousand Naira (NGN100,000);
2. A company that submits its monthly expatriate quota returns after the first twenty (20) days of the following month will be liable to pay One Hundred and Fifty Thousand Naira (NGN150,000); and
3. A company that submits its monthly expatriate quota returns after the first twenty-five (25) days of the following month will be liable to pay Two Hundred Thousand Naira (NGN200,000).
Companies that are currently utilizing Expatriate Quota positions are therefore advised to take the necessary steps to ensure compliance with the foregoing to avoid the sanctions for non-compliance.
Please know this:
All organizations granted expatriate quota positions must ensure that their expatriates and Nigerian Understudies obtain National Identification Number (NIN) which must be reflected in their monthly returns.
We are happy to follow up on the above and provide further clarity which you may require in the circumstances.
Contact:
Ikenna Amadi.
Lead Counsel
[email protected]
You can talk to us instantly by clicking https://bit.ly/sklega