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. 

• Must my Company Secretary be a Lawyer?

  Although it’s ideal to have a lawyer as a company secretary, it is not compulsory for small private businesses.

• 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

• 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.

• What is data protection?

  Data protection is a legal process of protecting sensitive data.

• Must I register my work with the Nigerian Copyright Commission?

  No, you must not register your work under the Nigerian law but you have the option to do so. This is because as soon as the original work becomes fixed and tangible it automatically becomes copyrightable.

• 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

• Can my kids be shareholders in my company?

  Yes your kids can hold shares in your company but there must be a minimum of two adult shareholders before kids can be included.

• 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.