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. 

• Do I need a Company Secretary?

  A limited liability company (LLC) must not have a company secretary.

• What is an execution clause in a contract?

  This is the section in which the parties sign the contract or agreement.

• What will happen if I buy the wrong category of forms with NAFDAC?

  Nothing, the purchased form will be in your account for future use.

   

• What is personal data?

  This is any information that can be used to identify an identifiable human person such passport photograph.

• Do I need permission to copy or use any copyright material in Nigeria?

  You do not require permission under the Nigeria Law to use or copy a copyright material when it is for research purpose, educational, non-commercial purpose, reviews and criticism etc

  However, when the copies are large, you must seek permission from the copyright owner.

• 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 directors do I need to start a company?

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

• Does a trademark search automatically reserve my trademark name?

  No, a trademark search does not automatically reserve that which is sought to be trademarked. A search ascertains whether that which is sought to be trademarked is available or violates any existing trademark.