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From Ndubuisi Orji, Abuja
The House of Representatives is proposing two bills that will make it mandatory for multinational companies operating in the country to appoint Nigerians as their Chief Executive Officers ( CEO).
The bills which are titled “Multinational Companies Appointment of Chief Executives (Regulatory) Bill” and Nigerian Oil and Gas Industry Content Development Act (Amendment) Bill,” are sponsored by Farah Dagogo, member representing Degema/ Degema of Rivers State. Already, both bills have passed first reading in the Green Chamber.
The Multinational Companies Appointment of Chief Executives (Regulatory) Bill, provides that :” Without prejudice to the extant Federal Character Commission Act or any relevant applicable legislation, any appointment for the position of Chief Executive Officer of any multi national company shall be reserved for a qualified Nigerian with requisite knowledge, proven integrity, cognate experience and capacity to provide leadership in the industry.”
Clause 3 of the proposed legislation stipulates that “any multi national company in Nigeria which contravenes the provisions of this bill through its officers or proxies, commits an offence and shall, on conviction be liable to such penalty as may be prescribed by regulations issued under this bill.”
Similarly, the Nigerian Oil and Gas Industry Content Development Act(Amendment) Bill, is seeking the alteration of the principal act to provide for the appointment of qualified Nigerians as Chief Executive Officers of Multinational Oil and Gas Companies operating in the country.
Clause 5(2) said : The Board shall implement the provisions of this Bill to ensure a measurable and continuous growth of Nigerian content in oil and gas arrangements, projects, operations, activities or transactions in the Nigerian oil and gas industry. ”
The proposed law is also seeking to “ensure effective and strict compliance with the provisions of this bill in respect of appointment of Chief Executive Officers of any multi national Oil and Gas Company operating in Nigeria.”
