In Nigeria, several laws and regulations are in place to safeguard children from exploitation, abuse, and neglect. We share this article to educate everyone as we commemorate another Children’s Day. Child Rights Act 2003 The Child Rights Act (CRA) incorporates…
Per the circular that was released by CBN on the 3rd of June, 2024, the Central Bank of Nigeria decided to revoke the license of Heritage Bank. This power stems from Section 12 of Banks and other Financial Institutions Act…
SCUML is an acronym for Special Control Unit against Money Laundering, a department of the Economic and Financial Crimes Commission (EFCC). In order to deal with situations in which businesses were used as conduits for carrying out financial crimes and…
Winding Up or Liquidation of Banks in Nigeria: Legal Framework and Procedures The winding up or liquidation of a bank in Nigeria is a critical process governed by several key pieces of legislation, primarily the Companies and Allied Matters Act…
The Corporate Affairs Commission (CAC) has directed that all categories of fintech agents, including sole agents, super agents and point-of-sale (POS) agents, register on or before July 7th, 2024.To ease compliance with this directive, the CAC has deployed several registration…
Starting a business is an exciting journey, but it can also be a daunting one. One of the most important decisions to be made when launching your venture is choosing a co-founder. Your co-founder will be your partner in the…
When a person dies without a will, also known as intestate, family members are often left wondering how they can gain access to the deceased’s assets. The only way to access the assets is by applying for letters of administration.…
The annual returns are a mandatory requirement for every registered corporate entity, whether or not the entity has commenced operations, and is payable to the Corporate Affairs Commission (CAC). It is not the same as annual tax returns. It is…
Entrepreneurs often find their innovative ideas requiring external financial support to grow or thrive. Third-Party Investment Agreements offer a structured pathway for entrepreneurs to secure funding from external investors. Exploring Third-Party Investment Agreements A Third-Party Investment Agreement as a formal…
Entrepreneurs and proprietors, directors, and trustees of registered corporate entities in Nigeria ought to be very well in the know of the need for compliance as regards the annual returns payable to the Corporate Affairs Commission. The value of the…
Endeavor, wherever possible, to see or interact with the landlord in person, and do not just deal with agents. Be as certain as possible about who to pay to. It is helpful to use agents who have well-known offices to…
It is a common misconception that only marriages conducted at federal registries like the Ikoyi Registry are recognized by the government and accepted at the embassy. In reality, as long as the local government or public place of worship is…
The Central Bank of Nigeria (CBN) has launched a new online portal named the CBN Licensing, Approval, and Other Requests Portal (LARP). This portal was specifically developed for the purpose of streamlining submissions of microfinance bank (MFB) licence applications. Historically,…
Employment Contracts: Employees resuming a new position need not let important details slip through the cracks and escape their attention. A lawyer can be a guide to help to spot potential pitfalls in an employment agreement, and to propose points…
Contracts in the music industry, speaking specifically about those made between music producers and artistes as foundations of professional relationships ought to protect the interests of both parties. Like bridges, they must be built on a firm ground of mutual…
