This bill establishes strict prohibitions on government interactions with entities linked to Nigeria, particularly those involved in activities deemed harmful or contrary to New Jersey's values. The Department of the Treasury is responsible for maintaining a list of such entities, which includes businesses with direct equity shares from the Nigerian government, those with contracts in Nigeria, or those supporting Islamic terror groups that persecute Christians. Entities on this list will be barred from receiving government contracts, economic development subsidies, tax benefits, and other forms of assistance.

To ensure compliance, the bill requires individuals seeking to engage in certain activities to provide written confirmation that they are not involved in prohibited activities in Nigeria. State agencies must verify this certification before awarding contracts or granting designations. The legislation imposes severe penalties for false certifications, including civil fines of up to $1 million or double the bid amount, termination of contracts, and a three-year ineligibility period for government dealings. Additionally, the bill prohibits the State from investing pension funds in companies controlled by the Nigerian government and restricts banking and investment activities with financial institutions tied to Nigeria.