Microfinance Bank (MFB) is any company licensed by the Central Bank of Nigeria CBN to carry on the business of providing financial services such as savings and deposits, loans, domestic funds transfer and non-financial services to microfinance clients. What distinguishes MFBs’ from deposit money banks are: (1)The smallness of loans advanced and/or savings collected. (2)The … Continue reading REGISTRATION OF MICRO-FINANCE BANKS IN NIGERIA
A trademark is an intellectual property consisting of a recognizable sign, design, or expression which identifies products or services of a particular source from those of others. The important elements to note about trademarks are its exclusivity, protection, identity and transferability. Section 9 of the Trade Marks Act, which governs trademark in Nigeria makes the provision … Continue reading Trademark Registration in Nigeria.
SCUML Registration in Nigeria What is SCUML? SCUML is special control unit on money laundry, a unit under the Economic and Financial Crimes Commission, Nigeria. SCUML is charged with the responsibility of monitoring, supervising and regulating the activities of Designated Non Financial Institutions (DNFIs) in line with the Money Laundering (Prohibition) Act ML(P)Act 2011 and … Continue reading SCUML Registration in Nigeria.
Introduction: E-commerce as the name implies is a form of electronic commerce, which is by way of online or internet based business of trade (i.e. buying and selling of goods, services and products) through electronic means by way of technology and use of electronic fund transfer, mobile trade, escrowing services, electronic data related exchange, supply, … Continue reading LEGAL AND REGULATORY FRAMEWORK FOR SETTING UP AN E-COMMERCE BUSINESS IN NIGERIA
On the 7th of August 2020, president Muhammadu Buhari signed the companies and allied matters bill which was recently passed by the National assembly into law.The new companies and allied matters act [CAMA 2020] introduces new provisions to reflect modern corporate realities as well as improve the ease of doing business in the Nigeria business … Continue reading 50 Key points on the New Companies and Allied Matters Act, CAMA, 2020.