How to register a consortium in Nigeria

How to register a consortium in Nigeria

July 18, 2022

Consortiums are companies which are composed of separate and different companies coming together to pool resources for an agreed objective or specific duties. Each company will be responsible for the consortium as specified or set out in the consortium agreement.

The requirement for the proper registration of a Consortium includes the following:

  • A formal application for consent to use the word ‘Consortium’ in the name of the company.
  • Evidence of not less than 3 different companies forming the consortium.
  • Evidence of registration in the home country, in the case of a foreign company
  • A Resolution of each company in the consortium indicating consent to the consortium arrangement and stating the objectives of the consortium.
  • The statutory declaration to wind up the consortium in accordance with the provisions of the Companies and Allied Matter Act (CAMA) upon completion of the object of the consortium.
  • Statement of the object of the consortium in the memorandum of association.
  • Inclusion of a clause to wind up the consortium in the articles of association.
  • Evidence of updated annual returns of component companies
  • Evidence of appointment of company secretary of component companies.
  • Evidence of compliance with S.553 CAMA where applicable
  • Upon obtaining the Consent, the Applicant can go ahead to register a new company with the same procedure for the registration of a new company.

Team 618 Bees

 

618 Bees can quickly and easily help you register a Consortium in Nigeria. 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 Corporate Affairs Commission (CAC).

 

 

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

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Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 
  • Must my Company Secretary be a Lawyer?

    Although it’s ideal to have a lawyer as a company secretary, it is not compulsory for small private businesses.
  • What is an execution clause in a contract?

    This is the section in which the parties sign the contract or agreement.
  • 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 data protection?

    Data protection is a legal process of protecting sensitive data.
  • What is eligible for Patent registration?

    Patents are granted for the invention of products or processes. However, for it to be patentable, the invention

    • Must be new,
    • Must have an inventive step that is not obvious to someone with knowledge and experience in the subject,
    • Must be capable of being made or used in some kind of industry and not be, a scientific or mathematical discovery, theory or method, a literary, dramatic, musical or artistic work, a way of performing a mental act, playing a game or doing business, the presentation of information, or some computer programs, an animal or plant variety, a method of medical treatment or diagnosis,
    • And must not be against public policy or morality.
  • 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
  • Who can be directors in my company?

    Any two adults can be directors in a company.
  • How long does a trademark registration in Nigeria Last?

    Trademark is valid for seven years from the date of application but you may renew the application for the trademark for an additional period of 14years.
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