Nigeria’s maritime sector offers opportunities for investors seeking to establish businesses involved in shipping and related maritime activities. However, setting up a shipping company requires compliance with both general corporate requirements and sector-specific maritime regulations. For a typical shipping business,…
Businesses across Nigeria routinely collect and process personal data relating to customers, employees, vendors, contractors, website users, and other individuals. This may include names, telephone numbers, email addresses, identification details, financial information, health information, photographs, and other information relating to…
Business owners and investors in Nigeria who wish to combine resources with another person or company are usually faced with a choice among three related structures: the partnership, the contractual joint venture, and the incorporated joint venture. Each involves a…
When a company needs to make an important decision, it may not be enough for the directors or management to simply agree on what should be done. Depending on the nature of the decision, the members (shareholders) of the company…
Registering your company with the Corporate Affairs Commission (CAC) is only the beginning. Once you are registered, sooner or later you will need to change something on your record, and that is where most business owners get stuck. Directors change.…
When registering a company in Nigeria, one of the important decisions to make is the amount of share capital with which the company will be registered. The share capital is relevant not only to the company’s ownership structure but also,…
Many businesses encounter hurdles when opening a corporate bank account in Nigeria. This is usually caused by the absence of a crucial compliance documentation – SCUML certificate. This certificate is very often requested by banks when opening certain business corporate…
If you have ever registered a business or company in Nigeria, you have probably come across theterm, RC Number. It appears on your Certificate of Incorporation, business documents, bankaccount records, invoices, and other official documents. Yet, many business owners are…
Most people presume that shareholders and directors are the same because of the vital role they play in a company. However, this is incorrect. Although there are some similarities, there are distinct differences everyone should know. This article explains the…
Thinking about registering your business in Nigeria but not sure what a CAC certificate is? You’re not alone. Many people want to register their businesses but don’t fully understand what the CAC certificate means or how to get it. The…
