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Sanctions for non-compliance with filings with the Financial Reporting Council of Nigeria (FRCN).
Public interest entities are required by the FRCN to file Annual Returns, financial statements, finance returns and accounting. This requirement is in compliance with the Financial Reporting Council’s...
Do foreign brands need to trademark their brands in Nigeria?
A trademark represents a company or brand once it is legally registered. Trademarks are unique identifiers that can differentiate companies or brands from one another. A trademark can be a symbol, logo, word...
Must a company allot all its shares at incorporation?
A share can simply be explained as the power, rights, interest, and obligations that its holder have over a company. It is what determines the profit that a holder is entitled to in a company. During...
I don’t like my current given birth name? How do I change it?
Anyone can decide to change their given name at any point in time for whatever reason they may have. It is legal to change your name in Nigeria but there are certain procedures to take just to effect the...
Does a water packaging business require SON certification?
Does a water packaging business require SON certification? SON stands for the Standard Organization of Nigeria. It is the organization responsible for preparing a standard for products in Nigeria at all...
Do i need a permit to convert a residential premise to commercial in Lagos State?
Lagos state is a well-planned city and as such permits are usually required to construct or alter an already constructed property in the State. Ordinarily, a permit is not required to convert a residential...
How can my company get a SCUML certificate?
SCUML is an abbreviation of Special Control Unit against Money Laundering and it is a unit under the Economic and Financial Crime Commission of Nigeria. SCUML certificate is for Designated non-financial...
Can the same person be both Board Chairman and CEO?
A person can be both a board chairman and a CEO. A board is mjade up of directors that are why it is otherwise known as board of directors. Directors of a company might not necessary be part of the day to...
What is SCUML certificate?
What is SCUML certificate? SCUMLmeans Special Control Unit against Money Laundering and it is a unit of the Economic and Financial Crimes Commission (EFCC). The certificate is issued by the EFCC as a proof...
What does it mean for a company to be limited by guarantee?
Section 26 of the Companies and Allied Matters Act Cap C20 Laws (CAMA) of the Federation of Nigeria 2004 states what a company limited by guarantee is all about. The exact words are thus replicated below:...
What kind of businesses or company names require special consent?
Section 30 of the companies and Allied matters Act cap C20 Laws of the Federation of Nigeria 2004 (CAMA) clearly states the names that require the consent of the Corporate Affairs Commission (CAC) before...
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