The 618 Bees blog
Practical guides to starting, running and protecting your business in Nigeria. Find the answers you need, wherever you are in your business journey.
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This write up is to help you understand the different types of companies in Nigeria as it states the basic features of each type of company registrable in Nigeria. BUSINESS NAME OR SOLE PROPRIETORSHIP: This...
A secretary shall be appointed and removed by the directors. Where it is intended to remove the secretary of a public company, the board of directors shall; Give him/her notice‐ (a) stating that it is...
Directors are either paid salaries or remuneration, depending on whether the director is an executive or a non-executive director, to know the difference, refer to the post on directors-...
Rotation is a means of retiring directors in a company. According to the Companies and Allied Matters Act (CAMA), all the directors shall retire at the first Annual General Meeting of the company, and at...
hT The minimum age for a director is 18 years, as a minor cannot be a director in Nigeria unless two adults are existing directors in that company. The age limit for a proposed or an already existing...
Where a resolution has been put to vote at a general meeting, voting is usually by a show of hands unless poll is demanded by members that are entitled to demand same. What is poll voting? Where voting is by...
LIMITED LIABILITY COMPANY PARTNERSHIP 1. A limited liability company can be formed by one person and have up to 50 members. A partnership must be formed by at least 2 persons and membership cannot exceed 20,...
In todays business world, having a website for your business is now regarded as a basic requirement and it is even more necessary when most of your business is done online. A website can serve as a great...
A sole proprietorship, as the name implies, is when one person forms and single handedly operates a business, while a partnership is formed and operated by at least 2 people. DIFFERENCES BETWEEN SOLE...
The duties of a company secretary are regulated by section 298 of the Companies and Allied Matters Act (CAMA) and the Articles of Association of the company. Duties of a company secretary include the...
The directors of companies meet to discuss, strategize and determine the running of the business, adjourn meetings and regulate their meetings as they think fit. However directors of companies must be aware...
Resolutions are decisions taken by the shareholders or directors of a company at meetings which become binding on the company and determine the next action of the company. Types of Resolutions Ordinary...
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