The 618 Bees blog
Practical guides to starting, running and protecting your business in Nigeria. Find the answers you need, wherever you are in your business journey.
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WHAT IS NIGERIAN DATA PROTECTION REGULATION? Nigerian Data Protection Regulation (NDPR) provides legal safeguards for the processing of personal data. LAWS GOVERNING NIGERIAN DATA PROTECTION The Nigeria Data...
What is mobile money? Mobile money is a financial solution that allows users to send and receive money, as well as pay for goods and services with their phones without a bank account. It is also a...
Public limited companies are required to have atleast two directors at all times. In the event a director dies, the shareholders must appoint a second director as soon as possible. If the deceased director...
What Is a Payment Service Solution Provider (PSSP)? Payment Service Solution Providers in Nigeria are the collective number of firms that make up Nigeria’s primary e-payment framework that have been licensed...
WHO IS A PSC (PERSON WITH SIGNIFICANT CONTROL)? A person with significant control (PSC) is referred to as the beneficial owner/ultimate person who exercises significant influence or control over a company or...
A payment terminal service provider is a fintech company licensed by CBN which has the responsibility of providing POS terminals, its support and maintenance services to customers. Under the new license...
Under the new license categorisation for Nigerian payment service providers issued by the Central Bank of Nigeria on the 9th of December, 2023, four categories were made to streamline the permissible...
NOTAP stands for the National Office for Technology Acquisition and Promotion. The following documents are required for the registration of imported Technology in Nigeria; Completed Application Form, NOTAP...
Act 3 of 1992 established the National Housing Fund (NHF) with the aim of Mobilization of funds for the provision of affordable residential houses for Nigerians. All Nigerians in employment, whether...
On 24 June 2019, the Nigerian President signed the Nigeria Police Trust Fund (Establishment) Bill (“Police Trust Fund Act” or “the Act”) into law. The Act establishes the Nigeria Police Trust Fund (Trust...
A company is required to register for taxes in Nigeria, also individuals, employees, partnerships, and communities pay personal income tax in Nigeria. Personal Income tax is payable to the relevant tax...
There are various forms by which the shares of a company can be distributed to members or other interested parties, such as investors. Though they achieve the same purpose, they are quite different...
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