According to LCCI the levy might present Nigeria as an unconducive business environment before foreign investors hence they would relocate to less expensive environment for business.

In a statement signed by Chinyere Almona, the director-general of LCCI, the Chamber said it is concerned about the likely perception by foreign investors that the Nigerian government is not accommodating to foreign workers.

The chamber expressed concern that this perception would be harmful to our drive for Foreign Direct Investments inflows.

The statement read in part, “The Expatriate Employment Levy may cause unintended consequences that may trigger the relocation of foreign companies to neighbouring countries that present a more conducive and less expensive environment for business.

“The imposition of this levy may likely spark retaliatory actions taken by other countries by imposing levies on foreigners and particularly targeting Nigerian workers. This will in turn affect diaspora remittances from Nigerian workers resident in other countries.”

In the same vein, the Centre for the Promotion of Private Enterprise (CPE), in a statement signed by Muda Yusuf, its chief executive officer, criticised the new policy directive.

The Centre said that the policy could be a major setback for the continental economic integration vision.

The statement read, “There are serious implications for diaspora Nigerians. The policy may trigger reciprocal actions from other countries and this may affect Nigerians in the diaspora.

“There are currently over 17 million Nigerians in various countries around the world doing extremely well in the fields of education, medicine, health, sports, media & entertainment, leadership & politics, finance, science & ICT, transportation, tourism, industry and agribusiness.”

Furthermore, the Expatriate Employment Levy which is mostly on the offshore earnings of expatriates working in Nigeria, aims to balance economic growth and workforce development by ensuring equitable contributions from expatriate employment.

According to handbook detailing the information about the policy indicated that offences, such: as inaccurate or incomplete information could lead to penalties.

The implication is that, the Expatriate Employment Levy (EEL) would close the wage gaps between expatriates and the Nigerian labour force while increasing employment opportunities for qualified Nigerians in foreign companies operating in the country.

Eight things you should know about Expatriate Employment Levy:

1. Companies that breach the new Expatriate Employment Levy policy will pay N3m for each offence.
2. The offences are not submitting EEL, not registering an employee, a corporate entity not renewing EEL within 30 days, and providing false information on EEL.
3. Failure of a corporate entity to file EEL within 30 days is liable to a fine of N3,000,000.
4. Failure to register an employee within 30 days will attract a fine of N3,000,000.
5. Falsification of information on EEL is liable to a fine of N3,000,000.
6. Failure of a corporate entity to renew EEL within 30 days attracts N3,000,000 fine.”
7. Also, according to the handbook, companies are expected to pay $15,000 for expatriates employed as directors, and $10,000 for other categories.
8. Employers of expatriates covered by the EEL are required to pay $15,000 for directors and $10,000 for other categories of expatriates”.

Meanwhile, the Ministry of Interior in a notice on its website stated that the EEL card is a mandatory document like a passport. It added that it would be required for any expatriate to leave and enter the country.

The ministry, however, fixed April 15 for compliance with the policy.

The notice partly read, “For further details and registration of your company and expatriates working with you, kindly go through the Handbook and User Manual available on the portal.

“The last date of compliance with EEL is Monday, April 15, 2024.  “An EEL card is a mandatory document like a passport, and will be required at the time of lawful exit and entry into the country.”