CAFA – Certificate of acceptance on fixed assets in Nigeria
One of the most important roles of IID (The Industrial Inspectorate Division (IID) of the Federal Ministry of Industry) is to inspect, value and certify capital expenditure incurred by businesses in Nigeria.
In this regard, every business that incurs or intends to incur capital expenditure of N500,000 or more must inform IID. The IID, after satisfactorily making asset verification, issues a Certificate of Acceptance of Fixed Assets (CAFA) certifying the value of the capital expenditure. Read more on CAFA requirements in Nigeria on AssetComply where we answer commonly asked questions like