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Regulators

Federal Ministry of Labour and Productivity

The Federal Ministry of Labour and Productivity is the Nigerian Federal Ministry concerned with relations between workers and employers. It is headed by the Minister of Labour and Employment, who is appointed by the President, and is assisted by a Permanent Secretary, who is a career civil…

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Financial Reporting Council of Nigeria (FRCN)

The Financial Reporting Council of Nigeria (FRCN) of Nigeria is a federal government agency established by the Financial Reporting Council of Nigeria Act, No. 6, 2011.  It is a federal government Parastatal under the supervision of the Federal Ministry of Industry, Trade and Investment.


The FRCN is responsible for, among other…

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Industrial Training Fund (ITF)

Established in 1971, the Industrial Training Fund (ITF) has operated consistently and painstakingly within the context of its enabling laws Decree 47 of 1971, as Amended in the 2011 Industrial Training Fund (ITF) ACT.

The objective for which the Fund was established has been pursued vigorously and efficaciously. In the…

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Lagos State Environmental Protection Agency (LASEPA)

The Lagos State Environmental Protection Agency (LASEPA) is the environmental regulator for Lagos State of Nigeria. Its environmental objective is in accordance with section 20 of the Constitution of the Federal Republic of Nigeria which states that “The State shall protect and improve the environment and safeguard the water, air…

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Lagos State Inland Revenue Service (LIRS)

Lagos State Inland revenue Service (LIRS) is the major revenue generating Agency of the Lagos State Government saddled with the responsibility of collecting taxes. Over the years, LIRS has increased the State’s Internally Generated Revenue (IGR) by executing various pioneering programs and implementing strategies which have impacted positively on revenue…

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National Agency for Food and Drug (NAFDAC)

The National Agency for Food and Drug Administration and Control (NAFDAC) is a Nigerian federal agency under the Federal Ministry of Health that is responsible for regulating and controlling the manufacture, importation, exportation, advertisement, distribution, sale and use of food, drugs, cosmetics, medical devices, chemicals and packaged…

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National Drug Law and Enforcement Agency (NDLEA)

The establishment of the National Drug Law Enforcement Agency (NDLEA) by the promulgation of Decree Number 48 of 1989, now Act of Parliament, was aimed at exterminating illicit drug trafficking and consumption in the Nigerian society. It is a well-known fact that any involvement in drugs, especially…

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National Insurance Commission (NAICOM)

The National Insurance Commission was established in 1997 with the responsibility of regulating and supervising insurance business in Nigeria. It replaced the previous regulatory organ – the Nigerian Insurance Supervisory Board. Prior to 1992, the Federal Ministry of Finance licensed and supervised insurance companies.

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National Pension Commission (PENCOM)

The Pension Reform Act 2004 established the National Pension Commission (PenCom) as the body to regulate, supervise and ensure the effective administration of pension matters in Nigeria.

The functions of the Commission include: 
1.Regulation and supervision of the…

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