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.
107 articles · Newest first
According to the World Bank as stated in the Nigeria Development Update (NDU), the collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic...
There is this anonymous saying that states that “The average millionaire has 7 sources of income”. Now more than ever before I believe this and my belief in this is hinged on the fact that this year, 2020...
A proprietor is the Legal name for a person who owns a business Name that is duly registered with the Corporate Affairs Commission. A minor is a person who is under the age of eighteen (18). A minor can be a...
The answer is NO. A BusinessNameis not considered as a companyunder Nigerian Law. A business name is incorporated under PART B while a company is incorporated under PART A of the Companies and Allied Matters...
Yes a foreigner can be a director in a Nigerian Company. Although there is no express provision for this in the Companies and Allied Matters Act 2004, the law also doesnot preclude a foreigner from being a...
A Company Limited by Guarantee means a private company that does not have shareholders or share capital. It has members called guarantors that undertake to contribute should the company need it. It cannot...
For a finance company to be registered in Nigeria, an application must first be made in writing to the Central Bank of Nigeria (CBN) with the following details; An application fee in a draft of N100, 000(one...
At incorporation, it is required that every company be registered either as a private company or public company. Where a company is registered as a private company Limited by shares, the members of the...
Generally, the requirements for registering a logistics business are that it must be registered as a company having atleast a million share capital structures. However, there are stringent requirements with...
To obtain a Sport Betting License in Lagos state, one must channel an application to the Lagos State Lotteries board. The primary function of the Lagos State Lotteries board is regulation of all gaming...
A share can simply be explained as the power, rights, interest, and obligations that its holder have over a company. It is what determines the profit that a holder is entitled to in a company. During...
Section 26 of the Companies and Allied Matters Act Cap C20 Laws (CAMA) of the Federation of Nigeria 2004 states what a company limited by guarantee is all about. The exact words are thus replicated below:...
From knowing to doing
When you need a hand, our team can help you start, run and stay compliant as a business in Nigeria.