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 are the terms of a contract?

  • an offer and an acceptance.
  • competent parties
  • Consideration
  • Legal subject matter
  • Mutual agreement/ Assent
  • Conesus ad idem
  • Obligation

• 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

• 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.

• Who benefits from copyright in Nigeria?

  The creator of the original copyright work (the Author) is the one who benefits but he can transfer his right to a third party.

• Do I have to physically drop off my product sample at NAFDAC office?

  No, you can choose to have it sent to NAFDAC office

• How many shareholders do I need to start a company?

  A minimum of one (1) adult shareholder is required to form a company.

• Does Trademark registration protect my website domain name?

  Yes, it does.