The debate over whether an unregistered money lender in Nigeria can recover loans with interest continues to generate legal discussions. While the Money Lending Act and state laws require money lenders to be registered before charging interest, some argue that a lender—registered or not—should still be able to recover their money (including profit) if the […]
In Nigeria, lending money and demanding interest on it is not as straightforward as simply offering loans. The law mandates that individuals or businesses engaging in money lending must be registered under the Money Lending Act or its equivalent laws in various states. Failure to obtain a valid money lending license can make loan agreements
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When dealing with property transactions in Nigeria, it is crucial to understand the distinction between leases and licenses. Both terms involve granting rights over land or property, but they differ significantly in their legal nature, rights granted, and implications for both parties. Many individuals and businesses enter agreements without fully understanding these differences, which can
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Land ownership and use in Nigeria are governed primarily by the Land Use Act of 1978, which remains the foundational law regulating land tenure, acquisition, and administration. The Act was introduced to streamline land ownership, curb land disputes, and ensure equitable land distribution for economic development. However, understanding its provisions is crucial for individuals, businesses,
The Nigerian Startup Act (NSA), signed into law in 2022, represents a significant step toward fostering a thriving tech and innovation ecosystem in Nigeria. Designed to support startups through incentives, funding opportunities, and regulatory clarity, the Act aims to position Nigeria as a global hub for entrepreneurship. However, while the Act presents numerous opportunities, entrepreneurs
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Mergers and acquisitions (M&A) play a significant role in corporate growth, business expansion, and economic development in Nigeria. Whether companies seek to combine resources, expand market reach, or gain a competitive advantage, understanding the legal framework governing M&A transactions is crucial. This blog post explores the legal processes involved in mergers and acquisitions in Nigeria
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Corporate governance plays a crucial role in ensuring that businesses operate ethically, transparently, and in compliance with legal requirements. One key figure in upholding good corporate governance is the Company Secretary. Often overlooked, the Company Secretary serves as the backbone of corporate compliance, acting as a bridge between the board of directors, regulatory bodies, and
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For small business owners in Nigeria, understanding and fulfilling tax obligations is not just a legal requirement but also a cornerstone of sustainable business growth. Compliance with tax laws helps businesses avoid penalties and build credibility with stakeholders, including investors and customers. This post delves into the tax obligations for small businesses in Nigeria, highlighting
In the world of contracts, unpredictable events can disrupt the execution of agreements, sometimes making it impossible for one or both parties to fulfill their obligations. This is where force majeure clauses come into play. These provisions are vital for managing risks and providing relief when unforeseen circumstances occur. In this post, we’ll explore the
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Starting and running a business in Nigeria involves navigating various legal, financial, and operational challenges. Protecting your business legally is essential for long-term success and growth. This guide provides practical steps to help entrepreneurs safeguard their businesses from legal risks, disputes, and losses. 1. Choose the Right Business Structure The first step in protecting your
