The bill for the establishment of a Chartered Institute of Entrepreneurs has been passed by the Nigerian Senate.

It was passed on Thursday at plenary after it was read for the third time.

If signed into law by the president, the institute will ensure the advancement of the study, training and practice of entrepreneurship.

The Chartered Institute of Entrepreneurs (Est.,etc) Bill, 2017 (SB. 7) was sponsored by Senator Ganiyu Olanrewaju Solomon.

The institute which will have a council also has the power to raise the standards of knowledge and skill as circumstances may permit.

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It will also secure in accordance with the provisions of the Act, the establishment and maintenance of a register of members entitled to practice as Chartered Entrepreneurs and a register of institutional members.

It shall conduct professional examinations leading to the award of certificates as may be prescribed and also maintain, in accordance with the provisions of this Act, discipline within the profession.

The Chartered Institute of Entrepreneurs shall also encourage, increase, disseminate and promote the education and training of members in respect of all questions related to the practice.

It shall have full members, associate members, fellows, institutional members and graduate members.

Its full members must be 18 years of age or above and must have passed any examination prescribed or accepted by the Institute.

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