The 618 Bees blog
Practical guides to starting, running and protecting your business in Nigeria. Find the answers you need, wherever you are in your business journey.
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After incorporation of a business, the proprietor or proprietors of the business can decide to close the business name on reasonable grounds or upon the death of a proprietor, the Legal representative can...
Co-operative societies in Lagos State are overseen by the State Ministry of commerce, Trade and Co-operative and its registration is based on the location of the proposed co-operative society. The...
To upgrade your business Name to a Limited liability company, you must first apply for the consent to upgrade your business Name from the Registrar of the Corporate Affairs Commission (CAC). If it is denied,...
The procedure for share transfers includes; Prepare an instrument of Transfer. The instrument of Transfer must be signed by the transferor and the transferee or on their behalf. The instrument of Transfer...
The Companies and Allied Matters Act Cap LN 2020 Sec 834 provides that Where a body or association intends to replace some or all its trustees or to appoint additional trustees, it may by resolution at a...
Financial statements are records of the financial activities of a company over a period of time. At the end of every financial year, the director of a company is required by the Companies and Allied Matters...
According to the Family Firm Institute, family-owned businesses account for two-thirds of businesses worldwide, making them essential for both economic growth and job creation. So how can one make a family...
Section 832 of the Companies and Allied Matters Act allows for the change of the name of an incorporated Trustee. A church is registered as an incorporated Trustee under the provisions of the Companies and...
The amendment of the constitution of your Association/Foundation/Non-Profit is done by a resolution passed by a simple majority of the members and approved by the Corporate Affairs Commission (CAC). The...
Non-profit Organisations registered with the Corporate Affairs Commission in Nigeria can only be dissolved by a court of competent jurisdiction. This can be done through a petition. A petition is a formal...
The procedure for dissolving or closing down an incorporated Trustee/Non-profit organization in Nigeria is provided for under section 850 of the Companies and Allied Matter Act 2020 (CAMA). Organizations...
Crowdfunding is when a large number of persons contribute a small amount of money for a project or investment. An Example of crowdfunding is GoFundme. Crowdfunding is a legally acceptable means of raising...
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