Frequently Asked

• Why must I file Annual Returns?

  It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 

• What is the first thing I must do to register a business in Nigeria?

  To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.

• Why is mutual assent important in a contract?

  This is one of the key elements of a contract because is shows the meeting of the minds of both parties

• If I have NAFDAC Registration number, do I still need SON registration number?

  SON Product Registration scheme is mandatory for all SON’s regulated products as mandated by SON Act 56 of 1971, 20 of 1984, 18 of 1990 as amended.

  This is irrespective of the registration done by NAFDAC

• Can I use the data collected legally for one purpose for another purpose?

  No, you can’t use the data collected for one purpose for a different purpose.

• Who benefits from copyright in Nigeria?

  The creator of the original copyright work (the Author) is the one who benefits but he can transfer his right to a third party.

• Is there a penalty for late renewal of registration of products with NAFDAC?

  Yes, there is a late renewal fee, which is dependent on the category of the product.

• How many shareholders do I need to start a company?

  A minimum of one (1) adult shareholder is required to form a company.

• Will my trademark registration in Nigeria protect me worldwide?

  No, all intellectual property (IP) rights which includes trademarks are territorial, which means you are protected in the countries in which you register them.