A private lending company is a company engaged in consumer and commercial money lending operations in Nigeria. This means the business of giving customers a loan with the agreement that it will be paid at a later agreed date with interest rates accrued on it. Private lending companies are subject to the regulation of the [...]
The Oil and Gas sector serves as a major source of revenue in Nigeria. Any person intending to start an oil and gas business in Nigeria must comply with certain legal requirements. This write-up will give a breakdown of the step-by-step procedure necessary to set up an oil and gas business in Nigeria. The following [...]
How To Register LLP in Nigeria Limited Liability Partnership in Nigeria A Limited Liability Partnership (LLP) is one of the laudable innovations of the Companies and Allied Matters Act (CAMA) 2020. It is essentially a fusion of the features of a partnership and a company where a group of individuals can pool resources together to [...]
A Bureau De Change (BDC) sector has remained an important unit of the Nigerian financial market playing a crucial role in exchange rate stability and job creation. It is a business where people exchange currency for another. This business has been defined by the Central Bank of Nigeria Manual to mean a retail foreign [...]
There are many differences between a private and public limited liability company in Nigeria. Companies, either private or public, are the most widely used business organization in Nigeria. The Corporate Affairs Commission established by virtue of the Companies and Allied Matters Act 2020 (CAMA or the Act) oversees the incorporation of a company in Nigeria. [...]
ADVANTAGES OF LIMITED LIABILITY COMPANY OVER BUSINESS NAME IN NIGERIA A private company limited by shares is a legally separate business entity. It has an authorized shareholding which defines the shareholding liability. This means that the directors and shareholders of the company have limited liability in the Company. Most often times many that want to [...]
FORMS OF BUSINESS ORGANIZATION IN NIGERIA A business entity is responsible for using its economic resources to provide goods or services to customers for profit. There are different types of companies and business structures in Nigeria. First, it is a note of worth to state that under Nigerian law, it is only the Corporate Affairs Commission, an agency of the [...]
REPRESENTATIVE OFFICE IN NIGERIA BRANCH OFFICE IN NIGERIA Any company conducting business in Nigeria is required to register with the corporate affairs commission (CAC). A Foreign company wishing to set up business operations in Nigeria must take steps in obtaining local incorporation of the Nigerian branch or subsidiary which has a separate entity in Nigeria. [...]
A business formation in Nigeria ordinarily commences with the registration of a company. A company can be referred to as a corporate entity, which upon incorporation becomes a separate legal entity with the perpetual succession and the capacity to sue and be sued. The cradle of a company is on its incorporation and this entails [...]
COMPANY REGISTRATION OFFICE IN LAGOS All incorporation of companies in Nigeria must be done with the Corporate Affairs Commission(CAC). The CAC is established by virtue of the Companies and Allied Matters Act (CAMA) 2020. The commission serves as the company registry in Nigeria but mostly carries out its function through the various company registration office [...]
REGISTERING A COMPANY WITH CAC ACCREDITED AGENTS Registration of a company is the first step every individual or entity who chose to do business in Nigeria must take. The legislation governing the company registration process in Nigeria is the Companies and Allied Matters Act (CAMA) 2020 and the government agency administering the CAMA is known [...]
FOREIGN COMPANY REGISTRATION IN NIGERIA A foreign company may open for business as a secondary establishment, such as an office, agency, branch, or subsidiary in Nigeria. However, such a company must fulfill certain legal requirements necessary to obtain local incorporation of the Nigerian branch or subsidiary as a separate legal entity. Registration of a company [...]
BUSINESS REGISTRATION IN NIGERIA HOW TO REGISTER A COMPANY IN LAGOS The first step required from every person or entity doing business in Nigeria is registering a company in Nigeria. Nowadays, the business registration process can be carried out online via the CAC company online registration portal. An individual seeking to engage in a little [...]
REGISTRATION OF COMPANY IN NIGERIA HOW TO REGISTER COMPANY NAME IN NIGERIA The law guiding company formation in Nigeria is the Companies And Allied Matters Act, (CAMA) 2020. The CAMA is the guideline for any company name registration in Nigeria and other ancillary matters. Unlike the United States of America where each state has its [...]
