Your Joining Fee and Annual Dues become payable as you join.
New members: Joining fee which is a one-off payment costs $5000 (N1,700,000) while the membership fee costs $5000 (N1,700,000) making a total of $10,000 (N3,400,000). Old members: Old members are to pay the annual membership fee of $5000 (N1,700,000)Eligibility
The membership of the American Business Council shall be understood to include entities lawfully engaged in Nigeria in the conduct of Business activities or other activities in furtherance support of the goals of the Company, and which are:
- Wholly owned Nigerian subsidiaries of US corporations, firms, associations, institutions and other US organizations and entities
- Corporations, firms, associations, or institutions substantially owned or controlled by Americans;iii.Corporations, firms, associations, or institutions which are members of a global network with a significant presence in the US and
- Corporations, firms, associations, or institutions that are U.S subsidiaries or affiliates of foreign owners or are otherwise listed on a US stock exchange, which has both their significant and independent business interests in Nigeria.“American-controlled business” shall for the purpose of these Articles mean a business whose ownership or decision-making organs, such as the Board of Directors and management, is or are controlled by American Corporations, firms, associations, institutions or individuals having at least a simple majority of ownership or representation and the related voting rights of the Business, and which applies American values, business principles and practices in its operation. A simple majority in this context shall mean 51%
American Business Member
“American businesses” include:
(a) Wholly owned Nigerian subsidiaries of U.S. corporations, firms, associations, Institutions and other U.S. organizations and entities;
(b) Corporations, firms, associations, or institutions substantially owned or controlled by Americans;
(c) Corporations, firms, associations, or institutions which are members of a
Global network with significant presence in the U.S; and
(d) Corporations, firms, associations, or institutions that are U.S. subsidiaries or affiliates of foreign owners or are otherwise listed on a US stock exchange, which have both their own significant and independent U.S. operations, and or significant and independent business interests in Nigeria.
(ii) “American-controlled business” shall for the purpose of these Articles mean a business whose ownership or decision-making organs, such as the Board of Directors and management, is or are controlled by American corporations, firms, associations, institutions or individuals having at least a simple majority of ownership or representation and the related voting rights of the business, and which applies American values, business principles and practices in its operation. A simple majority in this context shall mean 51%.
Nigerian Business Member
Membership in this category is open to companies with a presence in Nigeria and which carry on, as a major business: (a) a business which is managed or operated substantially by American professionals in accordance with American standards, or which otherwise has a strong tie with an American business; (b) a business which by itself or through its parent or affiliate is regulated by US laws and subject to US regulatory reporting requirements.
Non-resident Member
Membership in this category is open to companies and individuals which: (a) do not have a presence in Nigeria; (b) would otherwise qualify for American Business Membership, American Individual Membership, or Nigerian Business Membership; and (c) have a significant business interest in Nigeria.
American Business Council Ltd/Gte
