The Ghana Union of Traders’ Associations (GUTA) in the Northern Region have cautioned the government to be circumspect with the negotiation it enters with the proposed Ghana-Nigeria Business Council in order not to disadvantage them.
The traders questioned the rationale behind the government relaxing Ghana’s trade laws by reviewing the GIPC Act to accommodate Nigerian traders while trade laws in their country remain intact.
The traders served notice that they will embark on series of demonstrations should the government succumb to pressure from Nigerians who engage in retail business in Ghana.
According to the union, the Ghana Investment Promotion Council (GIPC) Act 865 is to protect indigenous traders against non-Ghanaians.
The traders said Nigerians also have internal trade laws and regulations favouring only Nigerians against other nationals including Ghanaians.
On 4th September, 2020 Speaker of Houses of Representatives of Nigeria Mr Femi Gbajabiamila visited Ghana over the impasse between Nigeria and Ghana.
The speaker after his engagement with president Nana Akufo-Addo and speaker of Ghana’s parliament appealed for the review of GIPC Act to accommodate Nigeria traders by reducing the 1million dollar impose on foreign owned business. Addressing the media at Aboabu Market on Saturday, the traders clad in red reminded the ECOWAS Chairman president Akufo Addo to execute his duties to the benefit of all but not to favor foreigners to the detriment of his country men and women.
Deputy Secretary of Northern Region Branch of Ghana Union of Traders’ Association Alhaji Alidu Iddi explained that chapters of the ECOWAS trade liberation scheme makes it clear that investment and investors are subjects to the laws and regulations of the host state, especially if their actions are inimical to the growth of the host state.
Alhaji Alidu while commending the president for various interventions during covid-19 period that recalcitrant Nigeria traders in Ghana started misinforming the public particularly Nigerian residents through social and main stream media.
Northern Regional Chairman of GUTA, Alhaji Haruna Yasaba said the law mandate foreigners to employe at least 7 people in their shops but they have failed to comply. Alhaji Yasaba disputed suggestions that Ghana’s economy will collapse if the GPIC laws are adhered to.
He attributed the depreciation of Ghanaian cedi to the foreign dominated market in Ghana explaining that they return their gains in dollars back to their respective countries.
He challenged foreigners, including Chinese, Lebanese, Indians and Nigerians violating the laws to show up in Tamale with proper documentations on their activities in Ghana.