2.1. A registered company becomes a separate legal entity from you and has virtually the same legal rights as you would have under law, while an enterprise essentially is you but trading [doing business] under a name and style of your choice, which is... read more
The Nigerian scam or Advance Fee scam is popularly called "419" (Four-One-Nine) after the section of the Nigerian Criminal Code that deals with fraud. The scam historically been used with fax and regular postal mail, but it is now prevalent with email... read more
3.1. Acquisition of land and its documentation involves a number of procedures that call for due diligence and caution on the part of the purchaser. Retaining the services of a good professional could help get through these procedures in the best interest... read more
3.2 The Nigerian Investment Promotion Commission Decree 1995 and the Foreign Exchange Monitoring & Miscellaneous Provisions Decree 1995 guarantee to foreign investors unrestricted remittance of dividends or profits (net of applicable tax – 10%) deriving... read more
5.2.4 Expatriate Quota: the permission given to a business to employ foreigners. The number of the quota depends on the share capital of the company and a minimum share capital of Ten Million Naira is necessary for a company to quality for expatriate... read more
2. It is necessary to emphasize that no drug; food, cosmetics, medical devices and related products should be manufactured, imported, exported, advertised, sold or distributed in Nigeria unless it has been registered in accordance with the provisions... read more
1.1. Nigeria is an emerging country and slowly taking its place in the comity of Nations. From Oil and Gas to Information and Communications Technology, the country is gradually carving a niche for itself as the next emerging destination after China... read more
The Dishonoured Cheques (Offences) Act was enacted to make it an offence for any person in Nigeria to induce the delivery of any asset or property or to when settling any lawful obligation, writes a Cheque which when presented within a reasonable period... read more
Under current Nigerian law, taxation is enforced by the 3 tiers of Government, i.e. Federal, State, and Local Government with each having its sphere clearly spelt out in the Taxes and Levies (approved list for Collection) Decree, 1998. Of importance... read more
It is the policy of Government that those who wish to buy and sell Nigerian crude oil must demonstrate their commitment to the oil industry through the allocation of adequate resources of capital, equipment and manpower to the general business of prospecting... read more
Child Allowance – A relief of N2,500 is granted for each child up to a maximum of four children, provided that none is above 16 yrs or married. However, a relief can be granted for a child over 16 yrs if he is in a recognised school, under articleship... read more
Aircraft maintenance is a crucial investment opportunity in the Nigerian Aviation industry given the fact the country is seriously yet to build an in-house maintenance capacity. The idea of establishing a National Aircraft Maintenance Centre has been... read more
Child Allowance – A relief of N2,500 is granted for each child up to a maximum of four children, provided that none is above 16 yrs or married. However, a relief can be granted for a child over 16 yrs if he is in a recognised school, under articleship... read more
4.2 These documents (especially the Sale Agreement and the Deed of Assignment) must contain the names and descriptions of the parties, proper description of the property, the agreed purchase price, the acknowledgement of receipt of that amount, the capacity... read more
It is the policy of Government that those who wish to buy and sell Nigerian crude oil must demonstrate their commitment to the oil industry through the allocation of adequate resources of capital, equipment and manpower to the general business of prospecting... read more
3.2 The Nigerian Investment Promotion Commission Decree 1995 and the Foreign Exchange Monitoring & Miscellaneous Provisions Decree 1995 guarantee to foreign investors unrestricted remittance of dividends or profits (net of applicable tax – 10%) deriving... read more
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