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...
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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...
Does my company need a SCUML certificate?
SCUML means Special Control Unit Against Money Laundering. This is a unit of the Economic and Financial Crimes Commission (EFCC). The SCUML certificate is issued by the EFCC as a proof that a bank account is...
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...
Issuing company shares at a premium
When shares are issued at a price higher than the face value (also called par value or nominal value), it is called an issue of shares at a premium. Where a company issues shares at a premium, whether for...
How do companies allot shares?
A person becomes a shareholder of a Company either by shares being allotted, transferred or transmitted to him/her. What is allotment? A company may allot shares when it is first set up or at any time during...
Can I change my company from a private company to a public company? (LTD/LLC – PLC)
Yes, you can. 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...
Why we are supporting young female entrepreneurs
A lot of guys have contacted me to say I am been unfair to guys for doing this for females only. Well, What can I say, I love my ladies I cannot lie. But hold still guys, I just might have something in the...
What is a MEMART (Memorandum and Articles of Association)?
A memorandum and articles of association are legal documents that state the object of the company, shareholders of the company, the number of shares they subscribed to and the laid down rules in the running...
Who is a promoter?
A promoter is a person who stands in a fiduciary relationship to a company and takes necessary steps such as raising capital, arranging for directors of the company, placing of shares and negotiating...
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