HOW TO BUY A PROPERTY IN NIGERIA.
April 23, 2021April 23, 2021

HOW TO BUY A PROPERTY IN NIGERIA.

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By In Property Law

No doubt, acquiring real estate is the best form of investment one could ever make. But with the alarming report of fraudulent property transactions, it’s important that anyone intending to acquire a property in Nigeria, take note of the necessary precautions needed to avoid buying a potential lawsuit. WHAT TO DO BEFORE BUYING A PROPERTY IN NIGERIA CARRY OUT A PHYSICAL INPSECTION OF THE PROPERTY. It is of utmost importance that before a purchaser acquires a property, he or she must first and foremost visit the location of the property in order to ascertain whether or not the physical aspects...

April 7, 2021April 7, 2021

WHAT IS THE PROCEDURE FOR REGISTERING A COMPANY IN NIGERIA?

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By In Uncategorized

The introduction of the new Companies and Allied Matters Act in 2020 brought about changes to the administration of corporate affairs in Nigeria, and with the introduction of new procedures and processes to the registration of companies in Nigeria, I’ll be answering this question in line with these recent changes.   Before i proceed, let me state the following; a) The Corporate Affairs Commission is the sole agency responsible for incorporation of companies in Nigeria. b) A company is different from a business name. c) In Nigeria, there are various types of companies provided by law. They include; Private company...

March 15, 2021March 15, 2021

CAN A FOREIGNER BE A DIRECTOR OF A COMPANY IN NIGERIA?

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By In Uncategorized

Within this context, a foreigner is referred to as a citizen of any other country outside Nigeria. With globalization and technological advancement, a foreigner or any person living outside Nigeria can have his or her company set up in Nigeria. Furthermore, the Companies and Allied Matters Act, does not restrict foreigners from serving as directors of a company established in Nigeria. A foreigner could therefore be nominated or appointed as a director of a company in Nigeria regardless of whether or not he lives outside Nigeria. However, should the company see the need for such foreigner to live and work...

HOW TO RECOVER PROPERTY FROM YOUR TENANT IN NIGERIA.
March 10, 2021March 10, 2021

HOW TO RECOVER PROPERTY FROM YOUR TENANT IN NIGERIA.

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By In Property Law, Uncategorized

A tenancy relationship entails, a situation whereby a landlord hands over rights to occupy his property to a tenant over an agreed period of time, in exchange for rent. This implies that there are circumstances whereby a landlord may need to recover possession of the property from his tenant. In such cases, there are procedures set out by law for a landlord or his legal representative to follow and we’ll consider them in this article. WHO IS A LANDLORD?  A landlord can be defined as one who owns a property or premises. He can further be said to be someone...

HOW TO RECOVER RENT OWED BY YOUR TENANT.
March 5, 2021March 5, 2021

HOW TO RECOVER RENT OWED BY YOUR TENANT.

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By In Property Law

In our society today, every person must have a place called home, a shelter over his or her head. One may have either a house of his/her own or live in someone else’s apartment for a fixed period of time in exchange of an amount of money known as rent, thereby creating, a landlord and tenant relationship. Circumstances may however occur where a tenant fails to pay his or her due rent or money owed to the landlord at various stages of the tenancy relationship such as;  i) Where the duration of tenancy still subsists e.g the case of Mr...

WHO IS A COMPANY SECRETARY?
February 15, 2021February 17, 2021

WHO IS A COMPANY SECRETARY?

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By In Business Law

A company secretary is one saddled with the responsibility of ensuring the efficient administration of a company, He /She ensures that the company complies with all statutory and regulatory requirements and further ensures that decisions made in the company by the board of directors are executed.  It is pertinent to note that a company secretary is not just a mere clerical or secretarial officer or a secretary in the usual sense of it, but a senior officer in the company. The company secretary ensures that a company complies with all the relevant legislations and regulations guiding the company for which...

DIRECTOR AND SHAREHOLDER, WHAT’S THE DIFFERENCE?
February 12, 2021February 12, 2021

DIRECTOR AND SHAREHOLDER, WHAT’S THE DIFFERENCE?

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By In Uncategorized

Every company registered in Nigeria, has a director and shareholder, and both roles are different. And because of their roles, a director may not necessarily be a shareholder of a company. A shareholder need not be a director of a company either. However, a director may at the same time, be a shareholder of a company. WHO IS A DIRECTOR? A director holds an ’employee’ status as far as a company is concerned. Because a director is simply responsible for the daily administration of the company, he/she is described as the directing mind and will of the company. No doubt,...

GUIDE TO SETTING UP A MONEY LENDING BUSINESS IN NIGERIA.
February 2, 2021October 31, 2022

GUIDE TO SETTING UP A MONEY LENDING BUSINESS IN NIGERIA.

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By In Business Law

In Nigeria, the business of money lending is carried out by both individuals and companies. If you’re looking to register a money lending business in Nigeria, you should note that commercial money lending activities in Nigeria require licensing by either the Central Bank of Nigeria (applicable to Banks and Other Financial Institutions) or the Ministry of Home Affairs of various states (applicable to money lenders that are non-financial institutions). Commercial money lending activities are regulated by the Money Lending Laws of various States which makes it mandatory to carry out such form of business with a license. There are restrictions...

December 9, 2020December 9, 2020

WHAT TO DO WHEN SERVED WITH A REVENUE/SPECIAL COURT SUMMONS.

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By In Tax

In most states in Nigeria, the revenue court is responsible for hearing tax matters as it concerns the State or Local Government. Before a revenue court summons is served on a business owner/premises, it’s presumed that such business owner has failed to pay a stipulated levy required by law despite service of demand notice on such business owner/premises.This means that the case in question is now within the powers of the revenue court, and only the court at this point determines the next course of action between the revenue agency/authorities and the business owner who has been summoned before the...