Central Bank of Nigeria

HOW TO REGISTER FOR VAT IN NIGERIA

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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 […]

SETTING UP A CRYPTOCURRENCY COMPANY IN NIGERIA

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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 […]

DOCUMENT CERTIFICATION IN NIGERIA: A STEP-BY-STEP GUIDE

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Certification of documents in Nigeria is a very significant process that ascertains the validity of a document to ensure it meets all the legal and administrative requirements. This procedure is of immense importance in various scenarios, such as court cases, academics, international deals, company hiring, and immigration purposes. Certification shows that a document’s copy is […]

HOW TO LEGALLY DIVIDE INHERITED PROPERTY IN NIGERIA

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Inheritance disputes are not new to Nigerians; they largely occur whenever there is inadequate legal knowledge concerning the distribution of inheritance. It may be a piece of land, house, or other kinds of valued property,the process of sharing it can be hectic, particularly when numerous heirs are involved. This article provides a critical analysis of […]

TERMINATION OF CONTRACTS UNDER NIGERIAN LAW

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In the case of most commercial relationships, parties negotiate and agree to terms and conditions, normally captured in a contract. A contract is the oral or written agreement that stipulates rights and obligations of parties enforceable by law. The termination of a contract has been defined as the expiration of the commercial relationship before the […]

HOW TO SET UP AN OIL AND GAS COMPANY IN NIGERIA

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The oil and gas industry is one of the most important sectors in Nigeria’s economy, which has contributed immensely to the country’s GDP and provides enormous business opportunities. Setting up a company in such a sector requires a good understanding of the regulatory framework in Nigeria and compliance with multiple legal requirements. Below is a […]

HOW. TO OBTAIN A MANUFACTURING LICENSE IN NIGERIA

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Manufacturing in Nigeria requires compliance with several regulatory regimes that ensure the quality of the product, safety for consumption, and protection of the environment. This guide describes critical steps, requirements, and regulatory bodies required to obtain a manufacturing license in Nigeria. Why is a Manufacturing License Necessary? The following are some important reasons why obtaining […]

DIFFERENCE BETWEEN PUBLIC AND PRIVATE COMPANIES IN NIGERIA

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Private and public limited liability companies are the most important forms of business entities in Nigeria, each serving different purposes and operating under different frameworks. This article examines the key features and differences between these two types of companies. Private Companies A private company, under the Companies and Allied Matters Act, is characterized by the […]

HOW TO APPLY FOR STR VISA IN NIGERIA

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The Subject to Regularization (STR) Visa is a temporary visa granted by the Nigerian government to aliens who have secured employment in Nigeria. It allows the applicant entry into the country while the applicant concludes all the formalities related to long-term residency and permission to work. Key Features of the STR Visa 1. Employment-Based Visa […]