Voluntary Deregistration

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Under the Company and Allied Matters Act 2020 in Nigeria, voluntary deregistration and voluntary winding up are distinct processes. Voluntary Deregistration (Section 38 CAMA 2020): Definition: Voluntary deregistration is the process by which a company, on its own accord, applies to be struck off the register of companies. Eligibility: Applicable to small companies or companies with no assets or liabilities. Procedure: The company must submit an application to the Corporate Affairs Commission (CAC) with required documents, and if approved, the CAC can strike off the company from the register. Effect: The company ceases to exist as a legal entity, but this...

04 December

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Corporate Compliance in Nigeria: A Comprehensive Overview of Applicable Laws

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in Obafemi Awolowo and Co. Blog

Introduction: Corporate compliance is a critical aspect of business operations, ensuring that companies adhere to the legal and regulatory frameworks set by the government. In Nigeria, a rapidly evolving economic landscape emphasizes the importance of corporate entities complying with various laws and regulations to foster transparency, accountability, and sustainable business practices. This article provides a comprehensive overview of the laws governing corporate compliance in Nigeria. 1. Companies and Allied Matters Act (CAMA) 2020: The cornerstone of corporate governance in Nigeria, CAMA 2020, replaced the previous CAMA 1990 and introduced significant reforms. It outlines the legal requirements for the establishment, management, and dissolution of...

29 April

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Applicable Tax Incentives to Foreign Investors in Nigeria

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in Obafemi Awolowo and Co. Blog

We aim to lead in each practice and area of law we work in. Coming from in-depth understanding of the law and the industry, capitalizing on extensive experience, we provide hands-on advice that speaks the language of our client’s business. Whether in aviation, sales and distribution, antitrust, corporate and M&A, finance, employment, energy, IP, litigation, TMT, real estate, or any other area of law, our clients can expect excellence and commitment to their objectives. Ensuring the operational functioning of the organisation, the development of external relations, management of press relations and constant communication with the press....

08 April

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ALL ABOUT LITIGATION

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in Obafemi Awolowo and Co. Blog

07 April

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Introduction to Oil and Gas in Nigeria

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in Obafemi Awolowo and Co. Blog