Validation of Loan Apps with the FCCPC in Nigeria
In Nigeria, money lending has evolved from the traditional banking system to a more flexible and technology-driven system. Money lending business in Nigeria is now characterized by loan apps. For...
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Difference between a Limited Partnership (LP) and Limited Liability Partnership (LLP)
Partnership is a formal arrangement made between two or more individuals with a view of making profit. In Nigeria, partnership was previously classified under the business name category without a corporate...
Differences between a Business Name and a Limited Liability Company
For anyone desirous to set up a business in Nigeria, it is important to know the right legal structure for the business of your choice, hence the objects of the business, the capital and the prospects of the...
Bi-Annaul Returns Filing for Non-Profits/Foundations in Nigeria
The trustees of non-profit organisations/Foundations are required to submit to the Corporate Affairs Commission, a bi-annual statement of affairs twice every year. The requirement to file bi-annual statement...
Why filing Annual Returns for your Nigerian Business is mandatory
All business entities registered with the Corporate Affairs Commission (CAC) are required to file Annual Returns every year that they remain in operation. This requirement extends to businesses,...
How to apply for expatriate quota and business permit in Nigeria
Expatriate Quota This is an approval granted to registered firms or organizations to employ the services of expatriates for the purpose of training or enhancing the skills of Nigerians during the period of...
Registration of a company with foreign participation in Nigeria
Section 650 of Company and Allied Matters Act 2020 (CAMA), defines “an alien (foreigner) as a person or association, whether corporate or incorporated, other than a Nigerian citizen or association”. A...
Data Protection Compliance Requirement for Nigerian Businesses
WHAT IS NIGERIAN DATA PROTECTION REGULATION? Nigerian Data Protection Regulation (NDPR) provides legal safeguards for the processing of personal data. LAWS GOVERNING NIGERIAN DATA PROTECTION The Nigeria Data...
Obtaining a Mobile Money Operating License in Nigeria
What is mobile money? Mobile money is a financial solution that allows users to send and receive money, as well as pay for goods and services with their phones without a bank account. It is also a...
How to Remove a Deceased Company Director in Nigeria
Public limited companies are required to have atleast two directors at all times. In the event a director dies, the shareholders must appoint a second director as soon as possible. If the deceased director...
How to set-up/register a Payment Service Solution Provider (PSSP) company in Nigeria
What Is a Payment Service Solution Provider (PSSP)? Payment Service Solution Providers in Nigeria are the collective number of firms that make up Nigeria’s primary e-payment framework that have been licensed...
Updating Your Company’s PSC Details – CAC Requirements and Why this is Important in Nigeria
WHO IS A PSC (PERSON WITH SIGNIFICANT CONTROL)? A person with significant control (PSC) is referred to as the beneficial owner/ultimate person who exercises significant influence or control over a company or...
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