PROCEDURE FOR IMTO LICENCE IN NIGERIA

IMTO LICENCE IN NIGERIA The Central Bank of Nigeria (CBN) issued the Guidelines on International Money Transfer Services in Nigeria (2014) for the maintenance of adequate and reasonable financial services to the public and specifically for the regulation of International Money Transfer Operators (IMTO) services in Nigeria. The CBN has licensed several IMTOs and continues to receive applications from [...]

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HOW TO UNFREEZE A BANK ACCOUNT IN NIGERIA

Unfreezing a bank account in Nigeria arises where the bank account of a customer has been frozen or put on hold by the bank. When a bank account is frozen, the customer is unable to access their bank account balance or make any payment from the account. The bank can freeze a bank account for [...]

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OVERVIEW OF ARTIST MANAGEMENT AGREEMENT IN NIGERIA

Artist Management Agreement in Nigeria embodies terms and conditions that will define the relationship between an artist and the manager. These terms and conditions define the structure of the total management of the artist in relation to the scope of representing the artist, duration of the agreement, rights of both artist and the manager, the [...]

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BASIC QUALIFICATIONS FOR ELECTIONS IN NIGERIA

The basic qualifications to conduct elections into any of the political offices in Nigeria are enshrined in the Constitution of the Federal Republic of Nigeria 1999. An electioneering process in Nigeria is a way of choosing representatives through a free and fair election conducted by the Independent National Electoral Commission (INEC). The basic qualifications to [...]

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STEPS FOR REGISTERING HOLDING, CONSORTIUM AND GROUP OF COMPANIES IN NIGERIA

HOW TO REGISTER A GROUP OF COMPANIES IN NIGERIA FORMATION OF CONSORTIUM COMPANY A Holding, Consortium, and a group of companies are business structures that can be created to accomplish specific purposes. The law regulating the formation of a company in Nigeria is the Companies and Allied Matters Act (CAMA or the Act). Generally, using [...]

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PROCEDURE FOR PERFECTING OF LEGAL MORTGAGE IN NIGERIA

PERFECTION OF LEGAL MORTGAGE IN NIGERIA A legal mortgage is a conveyance of land or assignment of property as a security for the repayment of a debt or the discharge of other obligations for which it is given, with a proviso for redemption (subject to the condition that the title shall be re-conveyed) once the [...]

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SEPARATION OF MARRIAGE AND DIVORCE IN NIGERIA

DIFFERENCE BETWEEN SEPARATION OF MARRIAGE AND DIVORCE There are various suits that can be brought under Nigerian law. Amongst them are judicial separation and divorce (dissolution of marriage). Separation and divorce (dissolution of marriage) as confused by many, are not the same. Matrimonial Causes Act 1970 is the principal law governing marital disputes and settlement [...]

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PROCEDURE FOR RESEALING OF PROBATE IN NIGERIA

RESEALING OF PROBATE IN NIGERIA When a person dies, everything he owned does not die with him, there are regulations guiding the distribution, management and administration of the deceased’s estate, these processes can be carried out through either a grant of Probate or Letters of Administration. However, situations can arise where the deceased owned properties [...]

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LIMITATION OF ACTIONS IN NIGERIA

LIMITATION OF ACTION IN NIGERIA In Nigeria, there are limitations applicable to various litigation, so it is necessary to understand the statute of limitations before going to court. The statute of limitations is a law that defines the period during which a lawsuit can be brought in court. And when the period specified in any [...]

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HOW TO OPEN A CORPORATE BANK ACCOUNT IN NIGERIA

HOW TO OPEN A BUSINESS BANK ACCOUNT IN NIGERIA To open and operate a business account in Nigerian banks is an entirely different method from running an individual account in terms of its requirements and documentations. To be able to own a business account, the business must be duly registered in accordance with the Companies [...]

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JURISDICTION OF COURTS IN NIGERIA

  INTRODUCTION The focus of this paper is on the Jurisdiction of courts in Nigeria. But before examining the types of courts in Nigeria and the extents of their Jurisdictions. It will be ideal to start off this discourse by examining the meaning and importance of Jurisdiction, the effect of decisions reached without jurisdiction by [...]

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PROCEDURE FOR FINANCE COMPANY LICENSE IN NIGERIA

FINANCE COMPANY LICENSE IN NIGERIA INTRODUCTION The Central Bank of Nigeria according to the powers conferred on it by Section 28 of the Central Bank of Nigeria Act and Section 56-61 of the Bank and Other Financial Institutions Act, issued revised guidelines to regulate the establishment, operations, and other activities of Finance Companies in 2014. [...]

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PROCEDURE FOR OBTAINING GOVERNOR CONSENT IN LAGOS NIGERIA

GOVERNOR’S CONSENT IN LAGOS STATE Governor’s consent is a consent obtained from the governor of a state on a land transaction, without which will be deemed illegal in the eyes of the government and the law. Governor’s consent in Lagos and every other state in Nigeria are absolutely necessary where the holder of a Certificate [...]

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OVERVIEW OF THE LAND REGISTRATION LAW OF LAGOS STATE

Land Registration Law of Lagos State 2015 was enacted on the 21st day of January 2015 to form a balance in the system of registration of titles, land instruments, and transactions in Lagos State, thereby bringing the Lagos State land sector under one uniform system. By virtue of the Land Use Act of 1978, the [...]

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PROCEDURE FOR THE ENFORCEMENT OF FOREIGN JUDGEMENTS IN NIGERIA

ENFORCEMENT OF FOREIGN JUDGEMENTS IN NIGERIA The judgment of a court of a foreign country may be enforced through a Nigerian High Court either by way of an action at common law or by reciprocal enforcement. The principal legislation guiding the enforcement of foreign judgements in Nigeria is the Foreign Judgments (Reciprocal Enforcement) Act, CAP [...]

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How Much Does A Deed Of Assignment Cost

How Much Does A Deed Of Assignment Cost? Under Nigerian law, a Deed of Assignment can only be prepared by a lawyer. There is a scale of charges to govern the charges of lawyers for handling land matters. But because this scale of charges is archaic, lawyers would rather prefer to negotiate their percentage in [...]

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Is there a Difference Between Court Marriage and Registry Marriage in Nigeria?

Many people often ask the question of whether there is any difference between court marriage and registry marriage in Nigeria. The answer to the above is NO. Court and registry marriage are the same marriage process or type of marriage being called different names. Marriages are not conducted at the court registry, but only at [...]

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PROCEDURE FOR LAND VERIFICATION IN LAGOS

The land verification in Lagos cut across different stages. These stages involve confirmation of survey at the office of the Surveyor-General, search at the land registry, search at the Corporate Affairs Commission and many other places as it may be applicable to a particular land transaction. By and large, the relevant methods or means for [...]

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HOW TO VERIFY NIGERIAN DIVORCE CERTIFICATE

The procedure for how to verify Nigerian divorce certificate commences by obtaining the copy of a particular divorce certificate to be verified. To verify divorce status in Nigeria, someone must personally visit the appropriate court registry.   Upon the successful completion of a divorce proceeding in Nigeria, the Judge would issue a decree nisi through [...]

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ADVANTAGES OF BUSINESS NAME OVER LIMITED LIABILITY COMPANY IN NIGERIA

ADVANTAGES OF BUSINESS NAME There are different forms of company that can be registered by an individual at the Corporate Affairs Commission (CAC). An individual can either register a Business name, a Limited Liability Company or an Incorporated Trustees, however, these different ventures have their own advantages and disadvantages. The choice of the venture to [...]

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PROCEDURE FOR EXPATRIATE QUOTA APPLICATION IN NIGERIA

The expatriate quota application in Nigeria immediately comes after the registration of a company in Nigeria by any foreigners seeking to migrate to Nigeria to carry out any permanent work. Subsequent to a successful application of the Expatriate Quota in Nigeria, the business would be in a position to process a Subject to Regularization(STR) Visa [...]

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Guidelines for CBN Loan for small business

1.0 Introduction The coronavirus (COVID-19) pandemic has led to unprecedented disruptions to global supply chains, sharp drop in global crude oil prices, turmoil in global stock and financial markets, massive cancellation of sporting and entertainment event, the lockdown of large swaths movements of persons in many countries, and intercontinental travel bans/restrictions across critical air routes [...]

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OVERVIEW OF DEED OF LEASE IN NIGERIA

INTRODUCTION A deed of lease in Nigeria is a contract that outlines the terms of one party agreeing to lease property owned by the other party. It guarantees the use of assets by the lessee (also called the tenant) and guarantees the lessor (property owner or landlord) to be paid by the lessee regularly within [...]

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PERFECTION OF TITLE OF LAND IN LAGOS NIGERIA

INTRODUCTION The perfection of Title in Lagos State simply means registering an interest in a property with the government. When purchasing a property in Lagos or elsewhere in Nigeria, it is statutory for the buyer of the property to obtain proper title register the said property with the government. The major governing the registration of [...]

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DIFFERENCE BETWEEN A BUSINESS NAME AND A PRIVATE LIMITED LIABILITY COMPANY

INTRODUCTION There are differences between a business name and company, which are the major forms of incorporation for a new business start-up in Nigeria. It is important to know the legal implication of each structure of registration whether a Business name or a Private Limited Liability Company (LTD) before proceeding to the registration of such [...]

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TRADE MARKS ACT

TRADE MARKS ACTARRANGEMENT OF SECTIONS The Registrar and the register SECTIONI. The Registrar of Trade Marks.2. The register. Effects of registration and non-registration 3. Effect of non-registration.4. Registration to be in respect of particular goods.5. Right given by registration in Part A.6. Right given by registration in Part B.7. Saving for vested rights.8. Saving for [...]

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HOW TO DISSOLVE A MARRIAGE IN NIGERIA

INTRODUCTION The procedure for how to dissolve a marriage in Nigeria depends on the type of marriage contracted. For the purpose of divorce proceedings, there are two major types of marriage in Nigeria, which are; Statutory marriage Customary marriage (including Islamic marriage) Statutory Marriage A statutory marriage (also known as legal marriage) can only be [...]

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CHIEF JUSTICE OF NIGERIA

Hon. Justice Ibrahim Tanko Muhammad CFR CJN The current Chief Justice of Nigeria, Hon. Justice I. T. Muhammad, CFR, CJN was born on the 31st December 1953. He hails from Doguwa, Giade Local Government of Bauchi State. He attended primary school at Giade Primary School from 1961 to 1968. He proceeded to Government Secondary School, [...]

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JUSTICES OF THE SUPREME COURT OF NIGERIA

SUPREME COURT OF NIGERIA JUSTICES The Justices of the Supreme Court of Nigeria are appointed by the President of Nigeria on recommendation of the National Judicial Council and subject to the confirmation of the senate. Pursuant to the provisions of the 1999 Constitution of Nigeria, the judgement or decision of the Supreme Court shall not [...]

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OVERVIEW OF COMMERCIAL LEASE IN NIGERIA

COMMERCIAL LEASE AGREEMENTS Commercial lease in Nigeria is a form of lease agreement where the landlord leases his property for commercial purpose. Also, a commercial lease is an agreement between the landlord and the enterprise regarding property lease. Most organizations will decide to lease property instead of obtaining it because it requires less capital. Commercial [...]

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OVERVIEW OF TAXATION LAWS IN NIGERIA

Tax laws in Nigeria are laws and regulations guiding the collection and administration of taxes. The types of taxes collectable in Nigeria, as well as the bodies in charge of collecting, managing and regulating taxation, are stipulated by the following tax laws in Nigeria- Personal Income Tax Act Companies Income Tax Act Finance Act Value [...]

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LAWS REGULATING REAL ESTATE IN NIGERIA

REAL ESTATE LAWS AND REGULATIONS REAL ESTATE LAWS LAW IN NIGERIA The laws regulating real estate in Nigeria can be classified into federal based laws and state-based laws. At the federal level are laws that govern the country as a whole. There are also regional laws governing some sections of the country. Some of the [...]

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The Constitution of Nigeria 1999

1999 Constitution of Nigeria Constitution of the Federal Republic of Nigeria 1999 Arrangement of sections Chapter I General Provisions Part I Federal Republic of Nigeria 1. Supremacy of constitution. 2 The Federal Republic of Nigeria. 3 States of the Federation and the Federal Capital Territory, Abuja.   Part II Powers of the Federal Republic of [...]

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A Brief Overview of Bigamy and Adultery under Nigerian Law

Bigamy in Nigeria Marriage is a social and legal relationship. There are legal regulations to maintain the sanctity of marriage and to prevent actions deemed offensive to public morals. Every legal system, therefore, presents a conception of marriage, which states what validly constitute a marriage, stipulates actions that are wrong, and provides ground for its [...]

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BRIEF SUMMARY OF REVIEW OF TAX LAWS IN NIGERIA 2020

REVIEW OF FINANCE ACT IN NIGERIA President Muhammadu Buhari on Monday 13, January 2020 signed the Finance bill designed to create an enabling environment for business and investment by those in the private sector. This bill was earlier presented by the president at a joint session of the National Assembly on October 14 2019. In [...]

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An Overview of Certificate of Spinsterhood in Nigeria

Affidavit of Spinsterhood in Nigeria Attestation of Marital Status Certificate of spinsterhood in Nigeria is basically an affidavit (sworn to before the commissioner of oath in the High Court of the state) attesting to her single marital status, clearly stating that the woman is free to marry and there is no hindrance of a proposed [...]

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HOW TO LEGALIZE DOCUMENTS IN NIGERIA

LEGALISATION OF DOCUMENTS Legalization of documents in Nigeria essentially deals with the certification or attestation of the authenticity of signatures on documents and compliance of same with the laws of a country where it was issued. The procedure of how to legalize documents in Nigeria are usually the same for most documents that require legalization [...]

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LEGAL PRACTITIONERS AND CONSULTANTS IN NIGERIA

LEGAL CONSULTANTS IN NIGERIA Resolution Law Firm is a leading law firm in Nigeria with more than a dozen legal practitioners in Nigeria. The firm acts as legal consultants in Nigeria to several individuals, local and multinational companies in Nigeria. The law firm has various competent and experienced lawyers focusing on various areas of legal [...]

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HOW TO GET A DOCUMENT NOTARIZED IN NIGERIA

COST OF NOTARIZING A DOCUMENT IN NIGERIA There is a procedure for how to get a document notarized in Nigeria and in every other part of the world. In general parlance and in most parts of the world, a document can only be accepted internationally if it has been notarized or authenticated and its genuineness [...]

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AUTHENTICATION OF RESULT IN NIGERIA

HOW TO AUTHENTICATE CERTIFICATE IN NIGERIA ATTESTATION OF RESULTS IN NIGERIA The procedure for authentication of result in Nigeria usually commences with the notarization of the certificate by the Notary Public. The authentication is usually required by institutions in some countries. It is worthy of note to state that it is not all institutions abroad [...]

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PROCEDURE FOR NIGERIAN BIRTH CERTIFICATE AUTHENTICATION

HOW TO LEGALIZE BIRTH CERTIFICATE IN NIGERIA The procedure to Nigerian birth certificate authentication usually commences by obtaining the birth certificate or the age attestation certificate from the National Population Commission (NPC). Because Nigeria is not a signatory to the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents (the Apostille Convention), most [...]

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PATENT LAW AND RIGHT OF A PATENT IN NIGERIA

PATENT REGULATIONS IN NIGERIA The Patent and Design Act 1971 (the Act) is the principal patent law in Nigeria. A patent is a grant by a country to an inventor of an exclusive monopoly right to preclude another person from exploiting, making, using, importing, or selling invention his invention without his consent for a fixed [...]

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ENFORCEMENT OF INTELLECTUAL PROPERTY RIGHTS IN NIGERIA

FORMS OF INTELLECTUAL PROPERTY RIGHTS IN NIGERIA The enforcement of intellectual property rights in Nigeria involves various judicial and administrative mechanisms. The intellectual property right is an intangible property right, which is protected under the law. The intellectual property connotes all forms of copyrights; Inventions in all fields of human endeavour; Industrial designs; and Trademarks, [...]

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AUTHENTICATION OF MARRIAGE CERTIFICATE IN NIGERIA

LEGALIZATION OF MARRIAGE CERTIFICATE IN NIGERIA The procedure for an authentication marriage certificate in Nigeria involves three major steps. The first step is to obtain the certified true copy (CTC) of the marriage certificate at relevant registry; notarize the marriage certificate with the notary public in Nigeria; the third step is the attestation from Ministry [...]

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RULES AND REGULATIONS OF DOING BUSINESS IN NIGERIA

BUSINESS LAWS IN NIGERIA There are several applicable rules and regulations of doing business in Nigeria. This purpose of this write-up is aimed at summarizing the steps required to carry out business in Nigeria and the rule and regulations governing businesses in Nigeria. Business setup and operation in Nigeria are governed by various laws. These [...]

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OVERVIEW OF COPYRIGHT LAWS IN NIGERIA

COPYRIGHT LAWS IN NIGERIA ADMINISTRATION OF COPYRIGHT IN NIGERIA A copyright is an exclusive right given to the originator of creative work to reproduce the work for a limited period. Copyright protects the work of authors, artists, songwriters, music publishers and composers, photographers and other creatives. The primary copyright law in Nigeria is the Copyright [...]

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OVERVIEW OF WITHHOLDING TAX IN NIGERIA

WITHHOLDING TAX RATES IN NIGERIA 2020 WITHHOLDING TAX LAW Withholding Tax in Nigeria is a form of advance payment of income tax. It is a payment on account of the ultimate income tax liability of the taxpayer or company. Withholding tax (WHT) is not a separate tax on its own and does not confer an [...]

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REGISTRATION AND BENEFITS OF FREE TRADE ZONES IN NIGERIA

BENEFITS OF THE FREE TRADE ZONES IN NIGERIA FREE TRADE ZONES REGULATIONS A free-trade zone is a class of special economic zone. It is a geographic area where goods may be landed, stored, handled, manufactured, or reconfigured and re-exported under specific customs regulation and generally such goods are not subject to customs duty. Free trade [...]

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OVERVIEW OF COMPANY INCOME TAX IN NIGERIA

COMPANY INCOME TAX IN NIGERIA The Company Income Tax Act (CITA) is the principal law that regulates the taxation of companies in Nigeria. The tax regime in Nigeria is a multi-level tax system, which simply means that tax is administered by the three tiers of government. The Federal Inland Revenue Service (FIRS) administers or oversee [...]

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