The Roles and Responsibilities of Directors and Shareholders in Nigerian Companies
In corporate governance in Nigeria, Directors and Shareholders are the two principal stakeholders in a company. Although they often work in harmony, their roles, rights, and responsibilities are distinct and when misunderstood, can lead to conflicts, mismanagement, or even the collapse of a business. In this write-up we are going to examine the roles, responsibilities
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How to Protect Your Company from Being Struck Off by CAC
What does it mean for a company to be struck off by CAC? In Nigeria, when a company is “struck off” by the Corporate Affairs Commission (CAC), it means the company has been removed from the register of active companies. Legally, the company ceases to exist. Invariably when you search for the name of such
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Trademark Registration in Nigeria
A Trademark is a distinctive sign or mark that is used in relation to goods and services which helps to distinguish the products and services of one entity from that of another entity. It is a form of intellectual property that is used to distinguish the goods or services of one business from another. A
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Difference Between Letter of Administration and Probate in Nigeria
The probate is granted when a person dies leaving a Will behind. The probate is granted to the named Executors in the Will of the deceased. The court officials confirm the validity of the Will. Once such is established, the probate will be given to the executors named in the Will. This probate serves as
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Requirements for Consent to Register Group of Company in Nigeria
Group of Company is a combination of 2 or more companies joined together and registered as one. In our previous blog on how to register a group of company with CAC, we mentioned that the word “GROUP” is among the restricted names to use when registering a company with CAC. To use such word in
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How to Register your Property in Nigeria
Recently in Nigeria, the Real Estate business and investments have taken a new turn. Real Estate is now the new oil well in Nigeria with both short- and long-term return on Investment. People are becoming more aware of the importance and benefits of Real Estate investment. As a real estate investor in Nigeria, after buying
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Requirements for Registration of Business in Nigeria.
In registering an entity in Nigeria, there are basic requirements you need to provide so as to complete your registration with the Corporate Affairs Commission which is the government body saddled with company registrations and other allied matters. These requirements are so important that without them you cannot complete your registration. In registering a Business
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Non-payment of Annual Returns and the Implications
Annual Returns is a yearly fee paid by companies (Business Name, Limited Liability, Limited Liability Partnership, Incorporated Trustees) registered with Corporate Affairs Commission. Once an entity is registered with CAC, the corporation gives the entity certain grace period after which the entity is expected to pay her annual returns yearly. The grace period for an
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IS A SECRETARY NEEDED IN A COMPANY?
A Company Secretary is one of the officers of the company just like the Directors, they are not the owners of the company. A Company Secretary is usually a corporate professional who is responsible for the company’s legal and administrative duties. The Companies and Allied Matters Act (CAMA) 2020 section 330 (1) states that: “Except in
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Child Custody in Rivers State Nigeria
Child custody is a legal matter that is influenced by a number of laws, such as the Matrimonial Causes Act, the Child Rights Act etc. The welfare of the kid, which includes aspects like the child’s physical, emotional, intellectual, and moral well-being, is the main concern in child custody disputes in Nigeria and particularly in
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