Confidentiality Clause
Confidentiality clause is that part of an agreement that prevents the other party to the agreement from revealing vital information that they became privy to as a result of being a part of the agreement...
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Provisions of the new Finance Bill in Nigeria
So many persons see the Finance Bill as a welcome change in Nigeria Tax regime because of some of the favourable additions to the bill. Although there is a debate that the Increase in Value Added Tax from 5%...
What is the essence of an indemnity clause in a contract?
The essence of an indemnity clause is to allocate risk from one of the contracting parties to the other. When an indemnification clause is inserted into a contract, it is meant to transfer risk between the...
Can a foreigner be a director in a Nigerian company?
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...
What does the term “Limited by Guarantee” mean?
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...
What is a confidentiality Clause?
A confidentially clause just like the word confidentially implies, is the section of a legal agreement that prohibits a party from disclosing important information such as trade secret that they might become...
What is a Trust?
A trustexists where a person called a trustee is given the right by a person (Trustor) to hold title to a property for another person who is known as a beneficiary. A trust is a legal way to hold and protect...
Setting up a Trust in Nigeria
A trust is an arrangement where a person’s gives another party the legal right to manage his/her assets for the benefit of another person. A trust can be a property, a bond, mutual funds or even stock. To...
Procedure to register a Finance Company in Nigeria
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...
What is a living Trust?
A Trust is a tripartite relationship between three parties, where one party gives rights over his assets to another party for the benefit of a third party. There are several types of Trusts which include a...
What does the term “Limited Liability” mean?
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...
How About a Retainership with 618 Bees in the New-year?
We know you’re a busy entrepreneur with big plans. Legal services are probably the last thing owners of small- to medium-sized businesses want to think about. A common misconception is that investing in...
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