Corporate Law
FORCE MAJEURE AND THE PERFORMANCE OF CONTRACTUAL OBLIGATIONS IN A GLOBAL PANDEMIC
– NSEOBONG OKON, ESQ INTRODUCTION When parties enter into a contractual relationship, the intention is usually that such shall give rise to binding legal rights and obligations enforceable at the instance of the either of the parties. However, as parties cannot always anticipate the future, events may occur that significantly reduces the capacity of a party to perform his contractual obligation. That seems to be the situation at hand given the outbreak of Covid-19 declared […]
FILING OF TRADEMARKS IN NIGERIA
Trademark protection is essential for businesses operating in Nigeria to safeguard their unique brand identity and distinguish their products or services from competitors. Filing a trademark in Nigeria offers legal protection against unauthorized use and imitation, helping businesses build brand reputation and consumer trust. This article aims to provide a comprehensive guide on the process of filing trademarks in Nigeria, covering the key steps and requirements. 1. Understanding Trademarks A trademark is a distinctive symbol, […]
Banking & Finance
BANKING AND FINANCE THE STRUCTURE OF THE NIGERIAN FINANCIAL SYSTEM INTRODUCTION The Nigerian financial system comprises of bank and non-bank financial institutions which are regulated by the Federal Ministry of Finance (FMF), Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Securities and Exchange Commission (SEC), National Insurance Commission (NAICOM), Federal Mortgage Bank of Nigeria (FMBN), and the National Board for Community Banks. Regulatory Authorities The Federal Ministry of Finance (FMF) […]
Doing Business in Nigeria: Foreigners
Doing Business in Nigeria: Foreigners All business enterprises must be registered with the Registrar-General of the Corporate Affairs Commission (Registrar of Companies). A foreign investor wishing to set up business operation in Nigeria should take all steps necessary to obtain local incorporation of the Nigerian branch or subsidiary. FOREIGN COMPANY REGISTRATION IN NIGERIA Operations of Foreign Companies in Nigeria A Foreigner may invest and participate in the operation of any enterprise in Nigeria with exception […]
Registering Businesses in Nigeria
Registering a business in Nigeria under the Companies and Allied Matters Act (CAMA) 2020 requires compliance with specific processes overseen by the Corporate Affairs Commission (CAC). While most businesses must register, exceptions exist, such as legal partnerships. Various business structures—Limited Liability Companies, Companies Limited by Guarantee, Sole Proprietorships, Incorporated Trustees, and Unlimited Liability Companies each have unique requirements. Investors must carefully follow the applicable rules to ensure compliance and successful operations in Nigeria.