What is quorum?
Quorum is the minimum number of members necessary to be present at a meeting, to conduct the affairs of a particular group of people. For a board of directors to transact their business, unless the articles...
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Removal of directors
Notwithstanding anything in the company’s articles or in any agreement between the company and a director, a company can remove a director at any time. To remove a director, or to appoint another director in...
Appointment of directors
Companies are mandated by the Companies and Allied Matters Act (CAMA) to have at least 2 directors. Any company whose number of directors falls below two, shall within one month of its so falling appoint new...
Who is a director?
Directors are persons duly appointed by the company to direct and manage the business of the company. Directors can be either executive or non-executive. Executive directors – are employed by shareholders...
Transmission of shares
Transmission of shares occurs by operation of law i.e when a shareholder dies or becomes bankrupt or mentally unstable and his share title is transferred. Procedure for transmission of shares; The Personal...
Contents of a company’s Financial Statement
The financial statement of a company is a document that contains information about the company’s activities and financial performance in a particular year and a copy of this statement is required by a...
Can my child be a shareholder in my company?
WHO IS A CHILD? A child, also referred to as a minor, by definition is one who is less than 18 years of age. If your child is less than 18 years of age, he is a minor and can be a shareholder in your...
Why incorporating your business as a limited liability company (LLC) may be your best business decision yet.
When a business is incorporated, it simply means the business has completed the process of becoming a corporation, as recognized by law. If that business is incorporated as a limited liability company, it...
How to register and protect your business name
After you have picked the perfect business name and gotten it reserved and approved, you will need to make sure it is legally yours and yours alone to use in Nigeria where you intend to conduct your...
Establishing an inspiring legacy through the incorporation of a non-profit organisation
What is a Non-profit/NGO/Foundation? A Non-profit/NGO/Foundation is a group organized for purposes other than making profit and in which no part of the organizations income is distributed to its members,...
Annual Returns filings
The Annual Returns of a company can be defined as a yearly statement that gives essential information about a company’s activities, composition and financial position and which must be filed by every...
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