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...
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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...
8 steps on getting your business registered
Have two proposed unique business names Do a name availability search on CAC website services.cac.gov.ng and reserve a name. Note that the reservation expires after 60days so, registration must be completed...
What is a power of Attorney?
A power of attorney (POA) is a legal document, giving a person, who is called the agent, authority to act on behalf of the other person (the principal)’s behalf. A POA is of different types; A limited POA is...
Take the leap! ( To become an entrepreneur)
Whether its turning a side hustle to your main gig, or turning that dream into the reality of a full time business, deciding to become an entrepreneur is sometimes not easy to accomplish. There will always...
Contents of a partnership agreement
A partnership deed is a legally enforceable document that guides the operation of the partnership business. It should contain the following details; Name of the firm. Names and addresses of the partners. The...
How to register a partnership in Nigeria
A partnership is a form of business formed by two or more people. Not more than 20 persons can form a partnership, unless it is a partnership of lawyers or accountants. Follow the simple steps below to...
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...
How do i register my product with the Standards Organisation of Nigeria (SON)?
The Standard Organization of Nigeria is the body vested with the responsibility to make sure that products that are locally manufactured in Nigeria have the required level of satisfaction desired by...
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