The 3 mandatory compliance filings for Non-profits registered in Nigeria under the CAMA 2020.

The 3 mandatory compliance filings for Non-profits registered in Nigeria under the CAMA 2020.

October 11, 2021

There are three compliance filing mandatory for all Non-profits organisation to file under the Companies and Allied Matters Act (CAMA) 2020, and they include the Bi-Annual Returns (Filed in July and January each year – every 6 months) and Annual Returns filings.

Bi-Annual returns was recently introduced by the CAMA 2020 in section 845. It states that all non-profits organisation must file their financial statements twice a year. The first filing is between the period of June, 30th to 15th of July of the same year which reveals the details of expenditures and sources of income for the period of 6months of the filing year and the second filing is de between the 31st of December to the 15th of January of the next year for the second 6 months. it shows the statement of affairs of the Non-profit organisation whether there is any debt, judgement, liabilities, source of income, expenditure, etc.

The importance of this filing is to checkmate the financial activities of the non-profit organisation and it helps to declare the status of their finances and the stream of income and expenditure. Default in filing this attracts a fee of N500 per day from each Trustee of the non-profit.

Annual Returns is the second statutory filing for a non-profit. Annual returns are yearly statutory requirements imposed by section 848 of the Companies and Allied Matters Act 2020. Annual Returns help to determine whether the non-profit is active or inactive. Annual returns for incorporated trustees become due on the 30th of June to the 31st of December and each non-profit is required to file this each year except on the year of their registration. This must be accompanied by the organisation’s audited financial statement.

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618 Bees can quickly and easily help you file both your organization’s Annual and Bi-Annual Returns in Nigeria. Log on to our website or email, or give us a call on +2349017190079. 618 Bees will complete your application with the Corporate Affairs Commission (CAC).


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Frequently Asked

  • When are Annual Returns due for filing?

    A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

    The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.

  • 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 penalties for not registering my products with the SON?
      1. Seizure of goods by the Inspectorate and Compliance Directorate
      2. Payment of a fine.
      3. Prosecution


  • Is it legal to transfer the personal data you obtained legally to another person?

    No, its not legal. This is because the law prohibits anyone from transferring the data of a third party to another person without consent from the third party to do same even if the data was rightfully obtained in the first instance.

  • Can an industrial design be sold?

    An industrial design is a company asset and the right to sell is in the hands of the registered owner.

  • 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’s the difference between a business name and an LLC?
    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 

  • 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.

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