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

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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 are the product categories available when registering with NAFDAC?

    The product categories include: Food, Cosmetics, Drug, Medical Device, Agro-Chemicals & Pesticide, Veterinary Products, Vaccines & Biologicals, Herbal and Nutraceuticals and Water

  • 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 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.

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    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.

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