Tag: #CBN

The Nigeria’s consumer lending is currently valued at about N1.74 trillion, according to Euromonitor International, and it is expected to double by 2026. Naturally, Nigeria is a viable place to do business. As investors are expanding into the money lending business in Nigeria, they may …

Introduction A Micro Finance Bank (“MFB”) is a subsector company in the financial industry 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 individuals …

KEY NOTES ON HOW TO SET UP A MONEY LENDER COMPANY IN NIGERIA Introduction From our experience in advising and assisting clients with business registration and licensing in Nigeria, money lender business is fast becoming very popular and widely embraced as an alternative solution to …

Why does a business require an MMO licence? Every technology solution service provider, in whatever sector, is most likely interested in how to reduce stress for customer’s subscription and payment through digital channels. One of the notable features of most online platforms is the provision …

Employee Due Diligence is an investigation by an Employer to identify any risks, screen or scrutinize hired staff’s or potential employee’s history in order to prevent any financial, reputational or other risks to the company. It must be appreciated that employees and prospective employees can …

Many small businesses, especially online entrepreneurs in Nigeria, are not (or do not have their businesses) registered with the Corporate Affairs Commission (CAC) despite being in business for a year or more. They conclude transactions using an unregistered “business” name but when it is time …

There is some confusion amongst human resources professionals and in-house counsel about the validity and effect of an employee’s notice of resignation that is short of the period agreed in the employment contract. Corollary to the foregoing is the issue regarding whether an employer can …

Social media is an essential part of the human space. Social media establishes the user’s online identity. A lot is happening on social media and human resource managers and, indeed, business owners cannot disregard the impact of online activities on their business or service. For …

i. Probation is a period of assessment of (1) an employee by the employer on suitability and competence and (2) of work environment by the employee to determine whether he/she should stay or resign. ii. All rights and obligations agreed to by the parties to …

In every credit business, the major questions on the mind of any financier are “how do I get my money back?” and “how seamless is it to do so?” As simple as the questions appear, they are not so easy to resolve in practice. The …