Introduction Ever heard the saying ‘three may keep a secret if two of them are dead’? I believe that if you want to keep information secret, it’s best not to share it with anyone because once you disclose it to someone, it’s no longer secret. I’m sure this resonates with you as well? However, there...
Nigeria has undoubtedly become a foremost destination for African Startups. According to reports by Disrupt Africa, African tech startups have raised over 1 billion US Dollars in the first two months of 2022. However due to reasons such as; positioning for venture funding opportunities, better access to global market, not to mention the economic, political...
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,...
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...
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...
One of the highlights of the new Companies and Allied Matters Act, which was signed into law in 2020 was the introduction of the Limited Partnership and Unlimited Liability Partnership structure for business organizations. However, since the coming into effect of the Act, members of the public have been unable to take advantage of this...
The new Companies and Allied Matters Act, 2020 has made it mandatory for substantial shareholders of new and existing private companies or limited liability partnerships, as well as persons with significant control to disclose details of such control to the company within seven days of acquiring such control. In addition, the company in question must...
Mr Itam in his life time was the founder and Chief Executive Officer of Fank Ventures Limited, a private company duely registered in Nigeria. Before his demise, he left instructions in his will appointing his only surviving son Mr Emmanuel Itam, to take his position as Director and CEO of Fank Ventures Ltd. He passed...
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...
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