Section 42 Nigeria Startup Act Section 42 Nigeria Startup Act 2022 is about Establishment of Technology Development Zones. It is under Part X (Clusters, Hubs, Innovation Parks and Technology Development Zones) of the Act. (1) The Secretariat shall collaborate with the Nigeria Export Processing Zones Authority to establish a Technology Development Zone (in this Act…

Section 41 Nigeria Startup Act Section 41 Nigeria Startup Act 2022 is about Functions of the clusters, hubs and innovation parks. It is under Part X (Clusters, Hubs, Innovation Parks and Technology Development Zones) of the Act. Startup innovation clusters, hubs, physical and virtual innovation parks shall provide —(a) dedicated team, help desk and contact…

Section 40 Nigeria Startup Act Section 40 Nigeria Startup Act 2022 is about Establishment of clusters, hubs and innovation parks. It is under Part X (Clusters, Hubs, Innovation Parks and Technology Development Zones) of the Act. (1) The Council shall issue a framework for the establishment and operation of startup innovation clusters, hubs, physical and…

Section 39 Nigeria Startup Act Section 39 Nigeria Startup Act 2022 is about Incentives for accelerators and incubators. It is under Part IX (Accelerators and Incubators) of the Act. (1) There shall be a register of accelerators and incubators that contributed to the startup ecosystem which shall be maintained by the Secretariat. (2) Startup accelerators…

Section 38 Nigeria Startup Act Section 38 Nigeria Startup Act 2022 is about Accelerator and incubator programmes. It is under Part IX (Accelerators and Incubators) of the Act. (1) The Secretariat shall, in realising the objectives of this Act, establish accelerator and incubator programmes for startups. (2) The Council shall, for the purpose of subsection…

Section 37 Nigeria Startup Act Section 37 Nigeria Startup Act 2022 is about Repatriation of capital and profits. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Secretariat shall collaborate with the CBN to guarantee repatriation of investment by a foreign investor through the CBN’s authorised dealer in freely convertible currency…

Section 36 Nigeria Startup Act Section 36 Nigeria Startup Act 2022 is about Listing of startups on exchanges. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Council shall assist labelled startups that seek to list on the relevant board of the Nigerian Exchange Limited (NGX), or on similar stock and…

Section 35 Nigeria Startup Act Section 35 Nigeria Startup Act 2022 is about Participation of a labelled startup in regulatory sandboxes. It is under Part VIII (Collaboration with Regulators) of the Act. (1) A labelled startup intending to participate in the CBN’s regulatory sandbox, SEC’s regulatory incubation programmes, or any other regulatory sandbox programmes set…

Section 34 Nigeria Startup Act Section 34 Nigeria Startup Act 2022 is about Obtaining licences for a financial technology startup. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Secretariat in conjunction with the CBN and SEC shall —(a) designate a separate section on the Startup Portal to ease the licensing…

Section 33 Nigeria Startup Act Section 33 Nigeria Startup Act 2022 is about Transfer of foreign technology. It is under Part VIII (Collaboration with Regulators) of the Act. (1) The Secretariat, in conjunction with the National Office for Technology Acquisition and Promotion (NOTAP) shall —(a) designate a separate section on the Startup Portal to ease…