Ghana and Nigeria have set up a joint committee to resolve the problems arising from the demand by Ghana that Nigerian businesses pay 300,000 U.S dollars to operate in Ghana, the News Agency of Nigeria reported. The Ghana Investment Promotion Council (GIPC) had on Nov. 28, 2007 slammed the fee on Nigerian businessmen in Ghana, sealing up hundreds of shops that were not able to pay the money. Many of the shops have remained sealed, more than 20 months after they were closed. Musiliu Obanikoro, the Nigerian High Commissioner to Ghana, said Nigeria has taken up the matter with Ghana following the recent visit of President John Ata Mills to Nigeria. “We are on top of the discussions and the issues and we are happy that the meeting was successful and we are happy that we have been able to further deepen and strengthen the bilateral ties between Ghana and Nigeria," the envoy said. He said the Ghanaian government had yet to drop the 300,000 dollars charge, noting that the measure was borne out of a perceived fear by the Ghanaian authorities that Nigerians would choke and dominate the business environment In Ghana. Obanikoro said Nigerian businesses had been advised to form business groups to meet the conditions imposed by Ghana for them to operate, explaining that the authorities in the country had made It flexible for the Nigerians to pay the money. According to him, the Ghanaian government has advised the Nigerian businessmen to come together to form one company and continue to do their businesses in the country, noting that the goods owned by the companies also formed part of the 300,000 dollars required by the government. He said Nigerian investments in Ghana had since surpassed the 1 billion-dollars mark, noting that Nigerian businesses, including insurance companies, banks and telecommunications companies, had continued to pour into the West African country. Obanikoro said Ghanaians had been showing tremendous interest in Nigerian goods, including leather, crude oil, detergents, noodles and other goods, adding that, Nigerians were spending more money buying Ghanaian goods. The high commissioner expressed delight that Nigerian companies were exploiting the business opportunities, opening up in Ghana following the return of democracy 17 years ago, and described the development as encouraging. He said Ghana Life Insurance Company had been purchased by a Nigerian investor. Thousands of Nigerian businessmen are currently residing and doing businesses in Ghana, where a thriving economy and stable infrastructure have been attracting millions of investors from various parts of the globe. Source: B&FT