Who is a CEO?

Who is a CEO?

May 09, 2019

CEO is an abbreviation for Chief Executive Officer of a company and it can be used interchangeably with Managing Director, Executive director and President.

A CEO is the person in charge of managing the affairs of a company. The CEO has the highest authority to make decisions affecting a company. The CEO decides how a company should go by setting the tone and vision for the company.

The CEO is charge with the responsibility of making major corporate decisions, the smooth running of the company, directs the general operations of the company and reports to the board directly. The mangers of the company reports to the CEO as it relates to their department, this assists the CEO in getting an overview of what is going on in every other department.

In Nigeria, the CEO has some other functions like making sure the company is up to date with the Corporate Affairs Commission (CAC), has paid its tax and its in line with the law.

 

 

 

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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  • 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.

  • 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

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  • 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.

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