American Business Member 

 

Membership in this category shall be open to American businesses with a presence in Nigeria either independently or in affiliation with a Nigerian company or citizen.

“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