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.

• What is an execution clause in a contract?

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

• 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 is classified as personal data?

  Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.

• 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.

• 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 share capital?

  The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership.

• 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.