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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Yes, a permit is required to advertise or use a signage in Lagos state. This makes it illegal for a person to erect, construct, enlarge or structurally modify any outdoor structure or signage or...
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...
Yes, they serve the same purpose. It is required that some legal documents get the authentication of either a Notary Public or a commissioner for oaths. Although the authentication by a Notary Public or...
Conversion of business type from unlimited to a limited liability company has been possible in Nigeria by virtue of Sec 52 Companies and Allied Matters Act (2004). The possibility of this conversion does not...
By virtue of Sec 160 Companies and Allied Matters Act 2004, A company is not allowed to buy shares issued by it unless in the following circumstances or events; If the company is settling or compromising a...
Where a member fails to pay any call or installment of a call on the day appointed for payment, the directors are required to serve a notice on such member requesting the payment and the accrued interest. If...
The directors are empowered by Sec 133 CAMA to make call on shares in respect of any monies unpaid on the shares of the members. A call on shares is made when; A resolution shall be passed by the directors...
A company has the power to issue shares to its subscribers up to the total number authorized in the memorandum. Issuing of shares at a discount is made possible by virtue of sec 121 Company and Allied...
SCUML means Special Control Unit Against Money Laundering. This is a unit of the Economic and Financial Crimes Commission (EFCC). The SCUML certificate is issued by the EFCC as a proof that a bank account is...
First, we will differentiate a private company from a public company. A limited liability company, also referred to as a private company limited by shares is restricted from offering its shares to the...
What is the difference between a share and a stock? A Share is the smallest unit into which the company’s capital is divided, representing the ownership of the shareholders in the company. A Stock on the...
Subject to the provisions of the CAMA, the shares of a company and any premium on them shall be paid up in cash, but where the articles so permit, shares can be paid for by a valuable consideration other...
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