In other to enhance financial inclusion by increasing access to deposit and payment/remittance services to small businesses, low-income households and other financially excluded entities through high-volume/ low-value transactions in a secured technology-driven environment, the CBN in 2020 issued a guideline for PSBs in Nigeria (“the GUIDELINES”) spelling out the licensing requirements, mode of op
There is no doubt in our minds that the advent of mobile phones has opened consumers up to immense possibilities. From communications to financial transactions, our mobile phones has become a powerful device. To exploit the inherent benefits associated with mobile devices especially in the area of financial transactions, companies such as Paga, MTN’s MOMO,…
Following the growth and explosion of cell phone ownership and usage across Africa since 2002, the potential of mobile phones as not just a tool for communication, but as a tool for financial inclusion and promoting efficient payment systems cannot be ignored. This can be seen in the evolution of fintech companies focused on enabling…
With Nigeria’s annual remittances predicated to be USD 34.89 billion in 2023, and with about USD 2.9 billion investment funds going to African startups, 62% of which went to fintechs in 2021 as reported by Briter Bridges, a large presence of Nigerians living in diaspora, there are huge market opportunity prospects for individuals and organizations…
According to Section 44 of the Companies and Allied Matters Act, 2020, a company is not permitted to carry out business activities not included in the object clause of the Memorandum and Articles of Association (MEMART) of such company. The MEMART of a company are important documents of any company. On the one hand, the…
A co-operative society is an autonomous association of persons united voluntarily with the aim of promoting the socio-economic interests of its members in accordance with co-operative principles and facilitating the operation of those principles. Upon registration, it acquires the status of a body corporate by the name under which it is registered, with perpetual succession…
As a general rule, any company (whether local or foreign) which seeks to do business in Nigeria, must be first registered with the Corporate Affairs Commission and meet up with other requirements to be recognized by the relevant Government as a going concern. Section 78 of CAMA 2020 provides: (1) Subject to sections 80- 83…
Do you operate a business in Nigeria? Ever been confronted by revenue officials at your business premises to pay taxes or levies you weren’t aware of? The fact is that in most State and local government areas, there is yet to be a unified tax payment system for taxpayers. That explains situations where certain levies…
Few days after publishing our article on how to register a trademark in Nigeria (click HERE to read previous article), a reader asked “Is a trademark registration important, considering the fact that I have just registered my company with the Corporate Affairs Commission”? This article would address this question. But before we do that, it…
A Trademark is a recognizable name or design, which is legally registered and used to identify and distinguish a product or service from others. It’s serves as indication of origin and quality. They represent the “goodwill” or reputation a business and its products/services enjoys with the public. Wherein, businesses rely on their marks to identify…
