Who is a CEO?
CEO is an abbreviation for Chief Executive Officer of a company and it can be used interchangeably with Managing Director, Executive director and President. A CEO is the person in charge of managing the...
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Registration of charges in Nigeria.
According to the Companies and Allied Matter Act (CAMA), every charge must be registered within 90 days of the creation of a such charge. However, when a charge is not registered within 90 days after its...
What is a Debenture Trust Deed and when is it necessary?
A Debenture Trust Deed is a document created by a company as security that is issued by the company to protect the interest of a denture holder, where trustees are appointed. In order to raise funds from the...
Is a Partnership Agreement different from a Shareholders Agreement?
There is no difference between a Shareholder agreement and a Partnership Agreement. The two can be used interchangeably. Both a Partnership Agreement and a Shareholders Agreement are agreements entered into...
Conversion of your Unlimited Company to A limited Liability Company in Nigeria
Conversion of business type from unlimited to a limited liability company has been possible in Nigeria by virtue of Sec 52 Companies and Allied Matters Act (2004). The possibility of this conversion does not...
Can a company buy its own shares?
By virtue of Sec 160 Companies and Allied Matters Act 2004, A company is not allowed to buy shares issued by it unless in the following circumstances or events; If the company is settling or compromising a...
Forfeiture of shares based on refusal of members to respond to call on shares
Where a member fails to pay any call or installment of a call on the day appointed for payment, the directors are required to serve a notice on such member requesting the payment and the accrued interest. If...
Call on and payment for shares
The directors are empowered by Sec 133 CAMA to make call on shares in respect of any monies unpaid on the shares of the members. A call on shares is made when; A resolution shall be passed by the directors...
Issue of shares at a discount
A company has the power to issue shares to its subscribers up to the total number authorized in the memorandum. Issuing of shares at a discount is made possible by virtue of sec 121 Company and Allied...
How to change my company from a public company to a private company in Nigeria
First, we will differentiate a private company from a public company. A limited liability company, also referred to as a private company limited by shares is restricted from offering its shares to the...
Can I convert my shares into stock?
What is the difference between a share and a stock? A Share is the smallest unit into which the company’s capital is divided, representing the ownership of the shareholders in the company. A Stock on the...
Does payment for shares have to be in cash?
Subject to the provisions of the CAMA, the shares of a company and any premium on them shall be paid up in cash, but where the articles so permit, shares can be paid for by a valuable consideration other...
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