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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Anyone can decide one day to start operating a business. All that the person needs to do is provide a product or service to another person in exchange for money or money’s worth to be “in business.” While...
A company limited by guarantee and an incorporated trustee are usually established for the purpose of promoting an objective. The major difference between the two is COMMERCE. Although both a company limited...
There is no difference between a Shareholder agreement and a Partnership Agreement. The two can be used interchangeably. Both a Partnership Agreement and a Shareholders Agreement are agreements entered into...
A memorandum and articles of association are legal documents that state the object of the company, shareholders of the company, the number of shares they subscribed to and the laid down rules in the running...
A promoter is a person who stands in a fiduciary relationship to a company and takes necessary steps such as raising capital, arranging for directors of the company, placing of shares and negotiating...
Generally, your company secretary does not have to be a lawyer. However, where your company is a public company, the Companies and Allied Matters Act stipulates that your company secretary must be a member...
A shareholder is an individual or institution (including a corporation) that legally owns one or more shares of stock in a public or private corporation. Shareholders may be referred to as members of a...
A company’s articles of association is a document which, along with the memorandum of association, forms the company’s constitution, defines the responsibilities of the directors, the kind of business to be...
A restricted name is a name that requires the consent of the Corporate Affairs Commission before it can be used. According to Section 30(2) CAMA restricted names include the following; “Federal”, “National”,...
The use of the word ‘Group’ in the name of a company is restricted by the law and as such, consent must be sought and obtained from the Registrar-General of the Corporate Affairs Commission (CAC) before the...
The word “holding” can be used in your company name, however it is referred to as a restricted name under S. 30 (2) of the Companies and Allied Matters Act, thus its use is subject to the permission of the...
Certain names have been absolutely forbidden by the Companies and Allied Matters Act(CAMA) from being used as a company name, these names are referred to as prohibited names. The following is a list of such...
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