How To Renew A Lagos State Money Lender’s License

How To Renew A Lagos State Money Lender’s License

June 17, 2022

The Money Lenders License granted in Lagos to lenders has a one year duration period, this means its usually valid between January 1st to December 31st yearly. This therefore the lenders have to renew their lenders license each year irrespective of the month license was granted

The procedure required to renew a lenders license in Lagos is similar with obtaining a lenders license initially with few minor changes. These steps include;

  1. Obtaining of Magistrate Court Form, A and B
  2. Payment of the renewal fee of N100, 000
  3. Application for the renewal of Lenders license addressed to the permanent secretary of the Ministry of Home Affairs, Lagos State and submission of all necessary documents including a copy of the previous issued License.
  4. Updated Tax Clearance
  5. 3-6 Months account statement of the lender.
  6. Tax clearance certificate/ evidence of payment of Company Income Tax
  7. A Copy of the lender’s Incorporation Documents
  8. Inspection of the Lender’s office and books by the officers for the Ministry of Home Affairs.
  9. Verification of all documents tendered.
  10. Approval of Lenders License renewal application.

After these steps are taken and approval is granted, a certificate of renewal is issued to the Lender.

Team 618 Bees

618 Bees can quickly and easily help you renew your Lagos State Money Lending License. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application with the Lagos Ste ministry of Home Affairs.

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

 

 

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • What additional documents do I require to file my Annual Returns?
  • Do I need a Company Secretary?

    A limited liability company (LLC) must not have a company secretary.
  • What is an execution clause in a contract?

    This is the section in which the parties sign the contract or agreement.
  • What are the product categories available when registering with NAFDAC?

    The product categories include: Food, Cosmetics, Drug, Medical Device, Agro-Chemicals & Pesticide, Veterinary Products, Vaccines & Biologicals, Herbal and Nutraceuticals and Water
  • What is classified as personal data?

    Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.
  • Will my trademark registration in Nigeria protect me worldwide?

    No, all intellectual property (IP) rights which includes trademarks are territorial, which means you are protected in the countries in which you register them.
  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.
  • What is share capital?

    The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership.
  • Does a trademark search automatically reserve my trademark name?

    No, a trademark search does not automatically reserve that which is sought to be trademarked. A search ascertains whether that which is sought to be trademarked is available or violates any existing trademark.
All FAQs
Call Us Now on +234 901 719 0079 Chat on WhatsApp