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An Investment Company or Corporate Investment Adviser or Investment Advisory Company is a company that provides advisory services relating to investment or securities for a fee. In Nigeria, the Securities and Exchange Commission (“SEC”) is the regulator vested with the licensing and regulatory supervision over …

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 The Money Lending business in Nigeria has witnessed a paradigm shift particularly in the way money lenders do their business. Moreso, is the aggressive campaign by the Federal Competition Consumer Protection Commission (“FCCPC”) in collaboration with other law enforcement agencies to bring sanity into …

Introduction The rate of the incessant collapse of buildings in Nigeria underscores the need for the government to implement the enforcement of compulsory insurance for building under construction in Nigeria. The collapse of the 21 Storey building on Gerard Road, Ikoyi, Lagos on 1st November …

Why Appoint a Local Director? Following the passage of the Companies and Allied Matters Act 2020 (“CAMA”), a foreigner can now set up and own a company 100% in Nigeria even if the foreigner is not within Nigeria. Once the requirements are supplied, the required …

Aggressive Regulatory Enforcement against Unregistered Money Lenders In our earlier Koriat’s Update on Fintech Lending Law in Nigeria (January 2022), we provided update that the Federal Competition and Consumer Protection Commission (“FCCPC”) had announced that a Joint Committee (comprising federal regulators and law enforcement agencies) was set …

1. Introduction One key thing gaming investors must note is that Nigeria is a Federation with 36 Federating Units (“States”) and one (1) Federal Capital Territory, Abuja (“FCT”) with clearly delineated powers of both levels of government under the Constitution of 1999 (as amended). The …

Introduction From our understanding as company secretary of various companies in Nigeria, the meetings, proceedings and decision-making process of directors are largely in accordance with the provisions of their company’s articles of association. This means that business men in Nigeria have a chance to decide …

1. Who is a director under Nigerian law? Under Nigerian law, there are three (3) types of directors: the executive directors, the non-executive directors and the shadow directors.  Executive directors are those directors who are involved in the day-to-day management of the company’s business usually …

Who is a venture capital manager? Venture capital is a private equity and finance services firm that helps startup companies and small businesses to realize their long-term growth potentials through funding, planning, marketing and other necessary support in exchange for equity stake in the business.  The …