Registration of charges in Nigeria.

Registration of charges in Nigeria.

May 06, 2019

According to the Companies and Allied Matter Act (CAMA), every charge must be registered within 90 days of the creation of a such charge. However, when a charge is not registered within 90 days after its creation, the company can apply to the court for extension of time and same will be granted if the court is satisfied that it will not be prejudice to the creditors or shareholders, and that it is just and equitable to grant an extension of time for the registration of such charge.

The procedure for registering charges is as follows;

  1. A duly stamped and sealed Deed with a counterpart copy.
  2. A duly completed Form for notice of charge
  3. Court order where applicable.
  4. Photocopy of previous registered Deed in case of Deed of up stamping.
  5. Payment of fees.

Where the charge is a mortgage, evidence of application for Governor’s consent duly submitted to the appropriate authority must be disclosed.

 

 

 

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • What additional documents do I require to file my Annual Returns?
  • 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.
  • What is a testimonium clause in an agreement?

    This is the part of the agreement where the witness attests to have witnessed the execution of the agreement.
  • When can I start renewal of the registration of my product(s) with NAFDAC?

    You can start renewal 6 months to the date of expiry.
  • What is personal data?

    This is any information that can be used to identify an identifiable human person such passport photograph.
  • Does Trademark registration protect my website domain name?

    Yes, it does.
  • Can I process/register multiple products at NAFDAC at the same time?

    Yes, you can process/register multiple products at the same time
  • What’s the difference between a business name and an LLC?

    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 
  • What do I need for a trademark search in Nigeria?

    To do a trademark search you will need the name or/and logo (device) of the trademark to be searched and the Class of the trademark that accurately describes it.
All FAQs
Call Us Now on +234 901 719 0079 Chat on WhatsApp