A Review of the Business Facilitation Act, 2022
Nigeria is a populous country with abundant natural resources, despite this, it has witnessed an exodus of international companies in the last few years. Nigeria is currently ranked 131 out of 190 economies in the World Bank ease of doing business index. This ranking is based on the friendliness of a country’s regulatory environment towards […]
Highlights of the New Companies and Allied Matters Act (Cama) 2020
On August 7th, 2020, President Muhammadu Buhari assented to the Companies and Allied Matters Act 2020 (“the New Act”) which now repeals the Companies and Allied Matters Act, 1990 (‘Old Act”). The New Act seeks to address the regulatory bottlenecks and onerous legal requirements found in the Old Act which has overtime hindered the ease […]
Guidelines for Holding Virtual Corporate Meetings
Company meetings are key to the decision-making process of a company. Management, Board, Committee(s) and General Meetings are avenues through which a company deliberates and makes decisions bordering on its management, control and administration. Thus, it is imperative that these meetings are convened in line with the protocols and procedures stipulated in the relevant statutes; […]
Convertible Promissory Notes: A Financing Model for Tech Startups in Nigeria
According to Bloomberg, about 80 percent of startup businesses fail within the first 18 months. A major reason for this is limited access to finance and Nigeria is not left out of these statistics. In fact, recent study suggests this numbers have risen to a whopping 90 per cent. The prohibitive interest rate and inability […]
You Can Now Register Your Company and be the Only Shareholder and Director
Under the Companies and Allied Matters Act 1990(“CAMA”) which is the old law regulating the registration, management and control of companies, business names and incorporated trustees in Nigeria, an individual could not singlehandedly register a limited liability company because the law required a minimum of two shareholders and two directors. As a result, many sole […]
Cyberbullying by Loan App Operators: Ethical Practices in Loan Recovery and Consumer Rights Protection
INTRODUCTION Money lending has long historical roots and financial technology has enabled the recent rise of digital lending platforms. These digital platforms provide quick and easy access to funds. Many digital lenders have emerged, providing credit access to individuals and MSMEs in dire economic straits. However, some digital lenders in a bid to enforce repayment […]
Think Sustainability; Building Sustainable Businesses
Introduction Several reasons underscore the crucial importance of businesses prioritizing sustainability. One significant factor is the growing recognition of the pivotal role organizations’ often play in shaping societal values and addressing global challenges. Companies are increasingly acknowledging the necessity of integrating sustainability into their operations deviating from the traditional ideal which was entirely centered on […]
Data Breach Alert: Is Your Personal Information Safe?
Introduction The recent reports of a data breach at the National Identity Management Commission (NIMC) have raised serious concerns about data privacy and security in Nigeria. This alleged incident reveals the weaknesses in our current data protection system and the pressing need for stricter enforcement. This article examines the breach, its effect on data privacy, […]
