COURT ORDER GUIDE: REVERSING AN ERRONEOUS BANK TRANSFER IN NIGERIA
Mistakes occur—especially in the age of technology. One common error is sending money to an incorrect bank account by mistake. For instance, you are intending to send money to “James,” but actually send it to “Sarah,” someone you do not know. In this case, it may not be easy to get in touch with “Sarah” […]
CORPORATE TAXATION IN NIGERIA
Corporate tax refers to the various taxes imposed on firms and legal entities doing business in Nigeria. The taxes are typically deducted from a company’s earnings and continue to be a significant source of revenue for governments. The revenue from taxation is, in turn, utilized by the Nigerian government to fund infrastructure projects, social issues, […]
PROCEDURE FOR BUYING A HOUSE IN LAGOS
Purchasing a house in Lagos, Nigeria, involves some very important steps to render the transaction process easy and bring about a valid transfer of title from the seller to the buyer. Since lawyers are the only ones who have the expertise to conduct a proper title investigation, prepare the necessary transfer documents, and effect the […]
COMPREHENSIVE GUIDE TO REGISTERING AN NGO OR ASSOCIATION IN NIGERIA
Registration of a Non-Governmental Organization (NGO) or Association under Incorporated Trustees is important to be able to enjoy the legal support and go about its operations with ease. This is a complete overview guide of requirements, step-by-step process, and fees for the registration under Incorporated Trustees through the completely digital means provided by the Corporate […]
HOW TO CHECK AND VERIFY PROPERTY TITLES IN NIGERIA BEFORE BUYING
Real estate investment in Nigeria is a lucrative venture, but it is riddled with risk—especially in terms of titles. Land sale scams, issues of who owns what. According to the Economic and Financial Crimes Commission (EFCC), over 70% of real estate fraud crimes in Nigeria are related to title irregularity issues. In order to make […]
COMPREHENSIVE GUIDE TO REPATRIATION OF CAPITAL AND PROFITS IN NIGERIA BY FOREIGN INVESTORS
Repatriation refers to the process of transferring people, assets, or funds back to their country of origin. In financial terms, it involves converting foreign-earned income, investments, or profits into the investor’s home currency. Businesses, individuals, and multinational corporations frequently engage in repatriation when they return capital from foreign subsidiaries, investments, or overseas income to their […]
HOW TO REGISTER FOR VAT IN NIGERIA
What is VAT? Value Added Tax, popularly referred to as VAT, is a consumption tax levied on the supply of goods and services in Nigeria. The charge is levied at the rate of 7.5% of the value of the taxable goods and services supplied. Businesses involved in supplying goods and services must charge VAT to […]
HOW TO SET UP A REPRESENTATIVE OFFICE IN NIGERIA
The Companies and Allied Matters Act 2020 (CAMA) is the operative law regulating corporate and business-related activities in Nigeria. Under this law, any company desirous of carrying on business in Nigeria must be registered with the Corporate Affairs Commission, the statutory body saddled with the responsibility for business registration and post-incorporation compliance in Nigeria. Under […]
SETTING UP A CRYPTOCURRENCY COMPANY IN NIGERIA
The adoption of cryptocurrency has increased over the years in Nigeria, and it serves various purposes such as hedging against inflation, performing international money transfers, and also investing for wealth creation. Most people send funds to family members in Nigeria, who convert the asset into a local currency for daily usage. But despite such widespread […]
SETTING UP A REAL ESTATE COMPANY IN NIGERIA: OPPORTUNITIES,REGULATIONS, AND KEY REQUIREMENTS
The real estate sector in Nigeria presents a wide range of opportunities, with each one subject to specific regulations. Businesses in this industry range from construction and property development companies, through property management, short-let services, estate surveying and valuation, to real estate agency operations. Of importance is that Nigeria does not restrict foreigners from setting […]