ALL REGULATORY AGENCIES IN NIGERIA

This article is about all regulatory bodies in Nigeria today and their functions. Regulatory bodies in Nigeria are government agencies or parastatals that are established with the purpose of performing regulatory tasks for certain sectors of human activity. To provide a safe environment, regulatory agencies ensure that people respect the laws established by the government or public organizations.

FULL LIST OF ALL REGULATORY AGENCIES IN NIGERIA AND THEIR FUNCTIONS

CORPORATE AFFAIRS COMMISSION (CAC)

The Corporate Affairs Commission was established by the Companies and Allied Matters Act, which was promulgated in 1990 to regulate the formation and management of companies in Nigeria. The establishment of the Corporate Affairs Commission as an autonomous body was a result of the perceived inefficiency and ineffectiveness of the erstwhile Company Registry, a department within the Federal Ministry of Commerce and Tourism which was then responsible for the registration and administration of the repealed Companies Act of 1968.
The functions of the Commission as set out in section 7 of the Companies and Allied Matters
The act includes the following:

• To administer the Act, including the regulation and supervision of the formation, incorporation, management and winding up of companies

• To establish and maintain companies registry and offices in all the States of the Federation
  suitably and adequately equipped to discharge its functions under the Act or any law in respect of which it is charged with the responsibility.

• Arrange and conduct an investigation into the affairs of any company where the interests of the shareholders and the public so demand.

• To undertake such other activities as are necessary or expedient for giving full effect to the provisions of the Act.

• The Commission also registers Business Names, and Incorporated Trustees as well as provides a wide range of ancillary services

• To be a world-class company’s registry providing excellent registration and regulatory services.

The Commission is also committed to providing registration and regulatory services that meet the
expectations of stakeholders for the benefit of the economy.

CENTRAL BANK OF NIGERIA (CBN)

The Central Bank of Nigeria (CBN) is one of the financial regulatory bodies in Nigeria that is saddled with the responsibility of overseeing the country’s financial sector’s activities. It is the country’s highest authority as far as managing the monetary affairs of Nigeria is concerned and some of its functions include but are not limited to the following: The CBN has the sole power to issue notes and coins in the country, maintain external reserves for Nigeria, and generally, supervise the entire banking system in Nigeria.

ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC)

The Economic and Financial Crimes Commission (EFCC) is a Nigerian regulatory body that is focused on investigating issues involving fraud, money laundering, or any other financial crime in the country.

NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION (NUPRC)

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was formerly known as the Department of Petroleum Resources (DPR), and it has the statutory responsibility of ensuring compliance with petroleum laws, regulations, and guidelines in the Oil and Gas Industry.
The discharge of these responsibilities involves monitoring operations at drilling sites, producing wells, production platforms, flowstations, crude oil export terminals, refineries, storage depots, pump stations, retail outlets, or any other locations where petroleum is either stored or sold, and all pipelines carrying crude oil, natural gas, and petroleum products, while carrying out the following functions, among others:

• Supervising all Petroleum Industry operations being carried out under licenses and leases in the country.

• Monitoring the Petroleum Industry operations to ensure that they are in line with national goals and aspirations including those relating to Flare down and Domestic Gas Supply Obligations.

• Ensuring that Health Safety and Environment regulations conform with national and international best oil field practices.

• Maintaining records on petroleum industry operations, particularly on matters relating to petroleum reserves, production/exports, licenses, and leases.

• Advising Government and relevant Government agencies on technical matters and public policies that may have an impact on the administration and petroleum activities.

• Processing industry applications for leases, licenses, and permits.

• Ensure timely and accurate payments of Rents, Royalties, and other revenues due to the government.

• Maintain and administer the National Data Repository (NDR).

NIGERIAN COMMUNICATIONS COMMISSION (NCC)

The Nigerian Communications Commission (NCC) is the independent National Regulatory Authority for the telecommunications industry in Nigeria. The Commission is responsible for creating an enabling environment for competition among operators in the industry as well as ensuring the provision of qualitative and efficient telecommunications services throughout the country.

Some of the Functions of the NCC include the following:

• The facilitation of investments in and entry into the Nigerian market for the provision and supply of communications services, equipment, and facilities.
• The protection and promotion of the interests of consumers against unfair practices including but not limited to matters relating to tariffs and charges for and the availability and quality of communications services, equipment, and facilities.
• Ensuring that licensees implement and operate at all times the most efficient and accurate billing system.
• The promotion of fair competition in the communications industry and the protection of communications services and facilities providers from misuse of market power or anti­competitive and unfair practices by other service or facilities providers or equipment suppliers.
• Granting and renewing communications licenses whether or not the licenses themselves provide for renewal in accordance with the provisions of this Act and monitoring and enforcing compliance with license terms and conditions by licensees.
• Proposing and effecting amendments to license conditions in accordance with the objectives and provisions of this Act.
• Fixing and collecting fees for grant of communications licenses and other regulatory services provided by the Commission.

FEDERAL INLAND REVENUE SERVICE (FIRS)

The Federal Inland Revenue Service (FIRS) assesses, collects, and accounts for taxes levied on enterprises by the federal and state governments. They are also in charge of collecting government funds. Most importantly, the agency is in charge of enforcing tax laws and ensuring that they are followed. Individuals who do not comply with Nigerian authorities face penalties and punishments.

NATIONAL AGENCY FOR FOOD AND DRUG ADMINISTRATION AND CONTROL (NAFDAC)

NAFDAC is a regulatory agency that protects the general public’s health. This agency regulates the manufacture, distribution, sale, importation, exportation, and consumption of medicines, food, chemicals, cosmetics, packaged water, and medical equipment throughout the country. Their major goal is to protect the health of the citizenry, hence they conduct thorough examinations into regulated products consumed in Nigeria.

STANDARDS ORGANISATION OF NIGERIA (SON)

The Standards Organisation of Nigeria (Son) is charged with ensuring that products fulfill technical standards and that commodities produced domestically in Nigeria provide the level of satisfaction that consumers desire. They not only focus on locally produced items, but they also inspect imported goods to ensure they satisfy Nigeria’s basic standards.

NATIONAL BUREAU OF STATISTICS (NBS)

The National Bureau of Statistics (NBS) is the regulatory body that supervises and publicizes research­based statistics that are conducted throughout the federation.

Other regulatory agencies in the country include:

• The National Pension Commission (PENCOM)
• Nigerian Electricity Regulatory Commission (NERC)
• Medical and Dental Council of Nigeria (MDCN)
• Pharmacists Council of Nigeria (PCN)
• The Consumer Protection Council (CPC)
• Nigerian Civil Aviation Authority (NCAA)
• The Securities and Exchange Commission (SEC)
• Nigerian Postal Service (NIPOST)
• Nigeria Deposit Insurance Corporation (NDIC)
• Broadcasting Organisation of Nigeria (BON)
• West African Examination Council (WAEC)
• National Environmental Standards and Regulations Enforcement Agency (NESREA).

More Agencies

Agriculture

Cocoa Research Institute of Nigeria (CRIN)
National Agricultural Extension, Research and Liaison Services (NAERLS)
National Veterinary Research Institute (NVRI)
Nigerian Agricultural Insurance Corporation (NAIC)
National Root Crops Research Institute (NCRI)
Agricultural Research Council of Nigeria
Nigerian Institute for Oceanography and Marine Research
Nigerian Institute for Oil Palm Research (NIFOR)
Nigeria Agricultural Quarantine Service (NAQS)
National Horticultural Research Institute (NIHORT)

Aviation

Federal Airports Authority of Nigeria (FAAN)
Nigerian Airspace Management Agency (NAMA)
Nigerian Civil Aviation Authority (NCAA)
Nigerian Safety Investigation Bureau (NSIB)
Nigerian Meteorological Agency (NIMET)
Nigerian College of Aviation Technology (NCAT)

Communications

National Information Technology Development Agency (NITDA)
Nigeria Communications Satellite Limited (NIGCOMSAT)
Nigerian Broadcasting Commission (NBC)
Nigerian Communications Commission (NCC)
Nigerian Postal Service (NIPOST)
National Frequency Management Council
Nigerian Television Authority (NTA)
Galaxy Backbone (GBB)

Economy

Asset Management Corporation of Nigeria (AMCON)
Social Security Administration of Nigeria (SSA)
Budget Office of the Federation (BOF)
Bureau of Public Enterprises (BPE)
Bureau of Public Procurement (BPP)
Central Bank of Nigeria (CBN)
Corporate Affairs Commission (CAC)
Debt Management Office (DMO)
Federal Inland Revenue Service (FIRS)
Federal Mortgage Bank of Nigeria (FMBN)
Fiscal Responsibility Commission (FRC) – defunct
Infrastructure Concession Regulatory Commission (ICRC)
National Bureau of Statistics (NBS)
National Council on Privatisation (NCP)
National Insurance Commission (NAICOM)
National Pension Commission (PenCom)
National Planning Commission (NPC)
National Sugar Development Council (NSDC)
Niger Delta Development Commission (NDDC)
Nigeria Customs Service (NCS)
Nigeria Deposit Insurance Corporation (NDIC)
Nigeria Investment Promotion Commission (NIPC)
Nigerian Export – Import Bank (NEXIM Bank)
Nigerian Export Promotion Council (NEPC)
Oil and Gas Free Zones Authority (OGFZA)
Nigeria Export Processing Zones Authority (NEPZA)
Revenue Mobilisation Allocation and Fiscal Commission (RMAFC)
Securities and Exchange Commission (SEC)
Standards Organisation of Nigeria (SON)
Small and Medium Enterprise Development Agency of Nigeria (SMEDAN)

Education

National Board for Arabic And Islamic Studies (NBAIS)
Joint Admissions and Matriculation Board (JAMB)
National Examination Council (NECO)
National Open University of Nigeria (NOUN)
National Teachers Institute (NTI)
National Universities Commission (NUC)
Tertiary Education Trust Fund (TETFUND)
Teachers Registration Council of Nigeria (TRCN)
National Business and Technical Examinations Board (NABTEB)
Universal Basic Education Commission (UBEC)
West African Examination Council (WAEC)
National Commission for Colleges of Education (NCCE)
National Library of Nigeria (NLN)

Energy

Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)
Nigerian Upstream Petroleum Regulatory Commission (NUPRC)
Electricity Management Services Limited (EMSL)
Energy Commission of Nigeria (ECN)
National Power Training Institute of Nigeria (NAPTIN)
Nigerian Electricity Regulatory Commission (NERC)
Nigerian Content Monitoring and Development Board (NCMDB)
Nigerian National Petroleum Corporation (NNPC)
Nigerian Nuclear Regulatory Authority (NNRA)
Petroleum Product Pricing Regulatory Agency (PPPRA)
Power Holding Company of Nigeria (PHCN) – defunct
Rural Electrification Agency (REA)
Transmission Company of Nigeria (TCN)

Environment

Federal Environmental Protection Agency (FEPA) – defunct
Forestry Research Institute of Nigeria (FRIN)
National Biosafety Management Agency (NBMA)
National Environmental Standards and Regulations Enforcement Agency (NESREA)
National Oil Spill Detection and Response Agency (NOSDRA)
Environmental Health Officers Registration Council of Nigeria (EHORECON)

Health

National Health Insurance Scheme (NHIS)
National Institute for Pharmaceutical Research and Development (NIPRD)
National Agency for the Control of AIDS (NACA)
National Agency for Food and Drug Administration and Control (NAFDAC)
National Primary Health Care Development Agency (NPHCDA)
Nigerian Institute of Medical Research (NIMR)
Nigeria Centre for Disease Control (NCDC)
National Drug Law Enforcement Agency (NDLEA)

Intelligence

Defence Intelligence Agency (DIA)
State Security Service (SSS)
National Intelligence Agency (NIA)
Nigerian Financial Intelligence Unit (NFIU)

Judiciary

National Judicial Council (NJC)
Federal Judicial Service Commission (FJSC)
National Judicial Institute (NJI)

Maritime

Nigerian Maritime Administration and Safety Agency (NIMASA)
Nigerian Ports Authority (NPA)
Nigerian Shippers’ Council (NSC)

Media

Broadcasting Organisation of Nigeria (BON)
News Agency of Nigeria (NAN)
Nigerian Press Council (NPC)
Nigerian Television Authority (NTA)

Science and Technology

National Agency For Science and Engineering Infrastructure (NASENI)
National Biotechnology Development Agency (NABDA)
National Centre for Remote Sensing (NCRS)
Sheda Science and Technology Complex (SHESTCO)
National Office for Technology Acquisition and Promotion (NOTAP)
National Space Research and Development Agency (NASRDA)
Nigerian Nuclear Regulatory Authority (NNRA)
Raw Materials Research and Development Council (RMRDC)
Nigerian Communications Satellite Ltd (NIGCOMSAT)
National Centre for Technology Management (NACETEM)

Water Resources

Nigeria Hydrological Services Agency (NIHSA)
Nigerian Integrated Water Resources Commission
National Water Resources Institute (NWRI)
River Basin Development Authorities (RBDA)

Uncategorized

Centre for Black and African Arts and Civilization (CBAAC)
National Automotive Design and Development Council (NADDC)
Code of Conduct Bureau (CCB)
Computer Professionals Registration Council of Nigeria (CPN)[110]
Consumer Protection Council (CPC)
Economic and Financial Crimes Commission (EFCC)
Federal Character Commission (FCC)
Federal Housing Authority (FHA)
Independent Corrupt Practices and Other Related Offences Commission (ICPC)
Independent National Electoral Commission (INEC)
Industrial Training Fund (ITF)
Legal Aid Council of Nigeria (LACoN)
National Agency for the Prohibition of Trafficking in Persons (NAPTIP)
National Boundary Commission
National Council of Arts and Culture (NCAC)
National Economic Reconstruction Fund (NERFUND)
National Emergency Management Agency (NEMA)
National Hajj Commission of Nigeria (NaHCON)
National Human Rights Commission (NHRC)
National Identity Management Commission (NIMC)
National Institute for Hospitality Tourism (NIHOTOUR)
National Lottery Regulatory Commission
National Orientation Agency (NOA)
National Population Commission
National Poverty Eradication Programme (NAPEP) – defunct[citation needed]
National Salaries, Incomes and Wages Commission (NSIWC)
National Sports Commission (NSC)
Nigeria Extractive Industries Transparency Initiative (NEITI)
Nigeria Immigration Service (NIS)
Nigerian Building and Road Research Institute (NBRRI)
Nigeria Institute of Building (NIOB)
Nigerian Christian Pilgrim Commission (NCPC)
Nigerian Copyright Commission (NCC)
Nigerian Tourism Development Corporation (NTDC)
Public Complaints Commission, Nigeria
Surveyors Council Of Nigeria
National Lottery Trust Fund

 

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