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 a testimonium clause in an agreement?

    This is the part of the agreement where the witness attests to have witnessed the execution of the agreement.
  • What are the benefits of Registering with SON?
    1. Product traceability in the Nigerian market
    2. Detection of counterfeit products
    3. Barriers to the circulation of substandard goods
    4. The official SON Product Registration Logo and number are displayed on registered products.
  • What is personal data?

    This is any information that can be used to identify an identifiable human person such passport photograph.
  • When registered, how long does a patent last for?

    Once granted, a patent is valid for 20 years.
  • When can I start renewal of the registration of my product(s) with NAFDAC?

    You can start renewal 6 months to the date of expiry.
  • Can my kids be shareholders in my company?

    Yes your kids can hold shares in your company but there must be a minimum of two adult shareholders before kids can be included.
  • Why do I need a trademark?

    You need to register your trademark because if you don’t register it, someone else can! It helps identify you as the source and indicates a consistent level of quality of your products and services. Securing a registered trademark protects your brand, and provides you with tools to prevent someone else from using similar signs and riding off the back of your business.
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