{"id":107556,"date":"2019-08-10T06:52:00","date_gmt":"2019-08-10T06:52:00","guid":{"rendered":"https:\/\/nigerianfinder.com\/?p=107556"},"modified":"2021-01-27T11:00:51","modified_gmt":"2021-01-27T10:00:51","slug":"company-law-in-nigeria-all-you-need-to-know","status":"publish","type":"post","link":"https:\/\/nigerianfinder.com\/company-law-in-nigeria-all-you-need-to-know\/","title":{"rendered":"Company Law in Nigeria: All You Need To Know"},"content":{"rendered":"

The very first company law came up in Nigeria in 1912. It was established in Southern Nigeria; Lagos to be precise. This same law got amended some 5 years later in 1917 and it was then able to cover all parts of Nigeria.\u00a0 It was labeled then as the Companies Amendment and Extension Act of 1917.\u00a0 The two of them were replaced by the Companies Act of 1922 in 1922. Later in 1968, the Companies Decree took over from the 1922 Company Act.\u00a0 As at today, the recognized Company Law in Nigeria is the Companies and Allied Matters Decree of 1990. Here you will get best corporate law firm Singapore<\/span><\/span><\/a><\/span>, visit us.<\/span><\/p>\n

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The Corporate Affairs Commission (CAC) is responsible for regulating the Company and Allied Matters Decree of 1990.\u00a0 Aside its regulatory function, the CAC is also responsible for supervising the formation of companies. They equally oversee the process involved in the registration of companies as well as company management.\u00a0 The CAC should also be put in the know if the company decides to wind up. Borrowing money to purchase a car is not the same as outright owning it. While you do get to drive the vehicle, you must keep up with the loan payments to maintain ownership. If you fall behind, you might wind up with the creditor or debt collector repossessing your car. Your vehicle is one of the most significant investments you will ever make. Not only are cars often expensive, but they are alsovital for getting to and from work, going to the store, and transporting your loved ones. Car repossession can pose severe obstacles to your future financial and personal success.\u00a0help with repossession in Knoxville<\/span><\/a> can occur suddenly; luckily, there are ways to fight back and reclaim your car. If you find yourself in need of legal counsel, find a trustworthy attorney who can assist you in stopping the repossession process. Attorney Lisa Bragan\u00e7a\u2019s extensive background gives her unique insights into the risks that many whistleblowers face. Attorney Lisa Bragan\u00e7a\u2019s extensive background gives her unique insights into the risks that many whistleblowers face.\u00a0 Whistleblowers have helped the government to recover billions of dollars. One banker blew the whistle on secret illegal offshore accounts set up by UBS Bank to evade billions of dollars in taxes.\u00a0 That whistleblower was awarded $104 million. These types of awards are meant to encourage people to come forward to report fraud and illegal conduct to the government.\u00a0 You can visit site<\/span><\/a> for the best Chicago Whistleblower protection.<\/p>\n

In order to perform its duties as it should be done, the CAC has offices in practically all states of the country.\u00a0 They are assigned the responsibility of conducting investigations into internal affairs of a company, especially if the issues of shareholders are concerned.\u00a0 They are equally compelled to intervene if the interest of the general public is at stake.\u00a0 However, any issue related to transfer of shares or transfer of ownership of a company does not in any way concern CAC. The death of any of the shareholders too does not concern the CAC.<\/p>\n

No one has the right to establish a company without due consultation and approval of the CAC. Before two parties can finally agree to form a company, they are supposed to inform the CAC and carry the commission along. This is because the CAC will be involved in the event need to dissolve the company arises. The company can only expand to new areas with the consent of the CAC.<\/p>\n

A company must be registered before it has the right to begin operation if not employers can sue with the help from a workers compensation attorney<\/span><\/a>.<\/p>\n

Before you can establish a company, the CAC insists that you meet up with the following criteria:<\/p>\n