Lmst
Login

#AALawsng

AALAWSNGaalawsng@mstdn.social
2025-03-04

Setting Up a Ride-Hailing Service in Abuja
Thinking of launching a ride-hailing service in Abuja? Here’s a step-by-step guide on how to register your company, apply for a license, and meet the necessary requirements.
#RideHailing #BusinessRegistration #FCTA #CACRegistration #StartupNigeria #TechBusiness #NigeriaEntrepreneurs #RideSharing #BusinessCompliance #avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw #cac #corporateaffairscommission #nigerianlaw

Slide 1 Setting Up a Ride-Hailing Service in Abuja 1. Key Registration Steps Register your company with CAC Develop a live app for drivers and passengers Submit a proposal and company profile to FCTA 2. Application Process Proposal review → Application form and ₦200,000 fee Business plan approval → Invitation for a presentation Physical office inspection required aviel avenante law logo www.aaLawsng.comSlide 2 3. License Categories & Fees Category A (1,000+ vehicles) – ₦3M Category B (500–999 vehicles) – ₦2.5M Category C (200–499 vehicles) – ₦2.25M Category D (2025 rate) – ₦2M Fees are subject to change: do confirm latest rates. aviel avenante law logo www.aaLawsng.comSlide 3 4. Eligibility Requirements CAC Incorporation Tax Clearance (3 years) Pension Contribution Audited Accounts Registered Office Workshop and IT Facilities Customer Support and Social Media Ready to launch? Follow the steps and get started. aviel avenante law logo www.aaLawsng.com
AALAWSNGaalawsng@mstdn.social
2025-02-27

The Legal Basis for Minimum Share Capital Under Nigerian Law
#NigeriaLaw #ShareCapital #BusinessCompliance #LegalFramework #CorporateLaw #MinimumShareCapital ##Investment #RegulatoryCompliance #AALawsng #AvielAvenante #Aviel #Avenante

SLIDE 1 The Legal Basis for Minimum Share Capital Under Nigerian Law What is Share Capital? Share capital refers to the funds a company raises by issuing shares to investors or shareholders. It represents ownership in the company and serves as a financial foundation for its operations. There are two main types: Authorized Share Capital – The maximum amount of share capital a company is legally allowed to issue. Issued Share Capital – The portion of authorized share capital that has been allocated to shareholders. aviel avenante law logo www.aaLawsng.comSLIDE 2 Importance of Share Capital Share capital plays a vital role in: Business Credibility – Investors and partners assess a company’s financial strength based on its share capital. Regulatory Compliance – Many industries have minimum share capital requirements for company registration. Investment & Expansion – Companies use share capital to raise funds for business growth. aviel avenante law logo www.aaLawsng.comSLIDE 3 Legal Basis for Minimum Share Capital in Nigeria The Companies and Allied Matters Act (CAMA) 2020 introduced key reforms on share capital, including: Abolishing the concept of authorized share capital and replacing it with minimum issued share capital Section 27(2)(a) of CAMA 2020 – Every company must have a minimum issued share capital. aviel avenante law logo www.aaLawsng.comSLIDE 4 Industry-Specific Minimum Share Capital Requirements Beyond general business registration, certain industries have specific share capital requirements. To know if your industry requires a minimum share capital, check out the post by AASecretaries here: [Insert Link] New share capital thresholds for companies: Private companies – ₦100,000 minimum share capital Public companies – ₦2 million minimum share capital aviel avenante law logo www.aaLawsng.com
AALAWSNGaalawsng@mstdn.social
2025-02-17

Legal Basis for CAC Compliance and the Striking Off of Companies
#avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw
#CACCompliance #CAMA #BusinessCompliance #LegalUpdates #AnnualReturns #CorporateLaw #NigeriaBusiness

Legal Basis for CAC Compliance and the Striking Off of Companies illustration of a compliance checklist Legal Basis for CAC Compliance How Your Business Can Avoid Striking Off The CAC plans to strike off 100,000 companies Reason Non-compliance with the Companies and Allied Matters Act (CAMA) For failing to operate or meet statutory obligations E.g. Filing Annual Returns for 10 consecutive years AALAWSNG logoIllustration of a compliance checklist Legal Basis for Striking Off Under Section 692 of CAMA, The CAC can strike off the following companies. Those no longer operating, Those which fail to meet statutory requirements over time. Once struck off, companies cannot operate unless restored by a Federal High Court order. AALAWSNG logoIllustration of a compliance checklist Steps for Compliance File all outstanding Annual Returns. Update Persons with Significant Control (PSC) disclosures. Send activation emails to the designated email. Deadline: 90 days from 30/12/2024 (Past) Always avoid penalties— why procrastinate? Act Now! AALAWSNG logo
AALAWSNGaalawsng@mstdn.social
2024-11-01

Happy New Month
Happy new month! May November bring you exciting new opportunities.
#November #HappyNewMonth #AMonthofPossibilities #aalawsng #lawfirm

AALAWSNGaalawsng@mstdn.social
2024-10-29

Legal Term of the Week: Private Equity
Private Equity firms invest in and partner with companies to optimize operations, accelerate growth, and create long-term value.
#PrivateEquity #Investments #AssetManagement #CorporateRestructuring #Buyouts #avielavenantelawpractice #law #aalawsng #lawfirm

Private Equity Investment in established companies, often through leveraged buyouts. Legal Term for the week www.aaLawsng.com
AALAWSNGaalawsng@mstdn.social
2024-10-22

SCUML Registration Requirements
SCUML Registration: What do Trustees need to do? Learn more.
#SCUMLRegistration #IncorporatedTrustees #ComplianceRequirements #TrusteeCompliance #law #aalawsng #nigerianlawfirm

SCUML Registration Requirements www.aaLawsng.com SCUML registration is mandatory in Nigeria for Designated Non-Financial Businesses and Professions (DNFBPs), including Incorporated Trustees, LLCs, and Business Names, to combat money laundering.www.aaLawsng.com General registration requirements include providing CAC registration details, TIN, BVN, business description, contact information, and relevant documents via the SCUML portal. Specific entity types (Incorporated Trustees, LLCs, Business Names) must also submit particulars of trustees, directors, or proprietors, respectively. Certain DNFBP categories have additional requirements, such as association memberships or specific licenses, depending on their industry.
AALAWSNGaalawsng@mstdn.social
2024-10-21

Legal Term of the Week: Venture Capital
The venture capital process involves multiple stages of funding, from seed rounds to later-stage investments.
#VentureCapital #Partnership #Collaboration #StartupSupport #InvestmentEssential #avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw

Venture Capital Investment in early-stage companies with high growth potential. Legal term for the week www.aaLawsng.com
AALAWSNGaalawsng@mstdn.social
2024-10-17

3. Nigerian labor laws, anti-money laundering (AML) and know-your-customer (KYC) regulations, and consumer protection laws enforced by the FCCPC must also be observed.
4. Engaging legal expertise is highly recommended to navigate the complex regulatory landscape and ensure ongoing compliance in the dynamic Nigerian ICT sector.
#NigerianICT #BusinessGrowth #ComplianceForSuccess #Tech #LegalGuidance #ScaleYourBusiness #avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw

AALAWSNGaalawsng@mstdn.social
2024-10-17

implement robust cybersecurity measures, and adhere to regulations for digital payments and online services.

Essential Regulatory and Compliance Considerations for Starting a Restaurant or Hotel in Nigeria.
#FoodSafetyNigeria #NAFDAC #LASEPA #FoodHygiene #avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw

AALAWSNGaalawsng@mstdn.social
2024-10-07

Legal Term of the Week: Insider Trading

Insider Trading is a serious offence. The risks outweigh the benefits.
#LegalTermOfTheWeek #BusinessLaw #LegalTips #LegalCompliance #StockMarketEthics #Finance #StockTrading #avielavenantelawpractice #aalawsng

Legal term for the week www.aaLawsng.com Insider Trading The illegal purchase or sale of securities based on material nonpublic information. logo of aalawsng
AALAWSNGaalawsng@mstdn.social
2024-10-04

Did You Know
#didyouknow #corporateveil #avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw

The term "corporate veil" refers to the legal distinction between a company and its owners? It protects owners from being personally liable for the company's debts But it can be "pierced" in cases of fraud or misconduct! Did You Know? www.aaLawsng.com
AALAWSNGaalawsng@mstdn.social
2024-09-30

Derivative Action
#derivativeaction #shareholderderivativeaction #corporategovernance #companylaw #litigation #fossandharbottle #avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw #effcc #antimoneylaundering

Derivative Action www.aaLawsng.com A lawsuit brought by a shareholder on behalf of the corporation to address wrongs committed by directors or officers. Legal term for the week logo of aalawsng
AALAWSNGaalawsng@mstdn.social
2024-09-26

Simplified Explanation of Laws and Penalties for SCUML Applicants
#scuml #scumlapplicants #nigerianlaws #legalcompliance #financialregulations #avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw #effcc #antimoneylaundering

AALAWSNGaalawsng@mstdn.social
2024-09-25

FAQs on Dormant Accounts, Unclaimed Balances, and Financial Assets in Nigerian Banks

When a bank account has been rendered dormant;

When funds have remained unclaimed;

What does the Central Bank of Nigeria recommend? See the piece below.

#avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw

#entrepreneurs #businessowners #cbn #banking #dormantaccount

FAQs on Dormant Accounts, Unclaimed Balances, and Financial Assets in Nigerian Banks The CBN has issued guidelines for managing dormant accounts and unclaimed balances in Nigerian financial institutions. Dormant accounts are those inactive for over ten years. Unclaimed balances will be transferred to the CBN. ? www.aaLawsng.comFinancial institutions must notify account owners about dormancy and offer reactivation procedures. ? www.aaLawsng.com Unclaimed funds will be held in a CBN trust fund and invested in Nigerian treasury bills. Account holders can reclaim dormant funds through their banks with proof of ownership. The CBN will monitor compliance and publish annual lists of unclaimed balances.
AALAWSNGaalawsng@mstdn.social
2024-09-24

Overview of Nigerian Education Loan Fund Acts of 2023 and 2024 and the guidelines

#NigerianEducationLoanFund #NELFAct2024 #EducationLoanNigeria
#StudentLoansNigeria #FinancialAidNigeria #avielavenantelawpractice #law #aalawsng #nigerianlawfirm

1.
The 2024 Act establishes the Nigerian Education Loan Fund as a corporate body, expanding its management structure compared to the 2023 Act, which was overseen by a Special Committee at the Central Bank of Nigeria.

AALAWSNGaalawsng@mstdn.social
2024-09-20

Ask us a question?
#avielavenantelawpractice #nigerianlaw #law #aalawsng #askaquestion #corporatelaw #businesslaw #tax #corporateaffairscommission

Ask us a question scan to send a message www.aalawsng.com logo of aalawsng
AALAWSNGaalawsng@mstdn.social
2024-09-18

The Legal Process for Child Adoption in Nigeria: A Step-by-Step Guide
#adoption #nigerianlaw #law #aaLawsng #avielavenanteLawpractice #familylaw #family
The adoption process in Nigeria is governed by the Child Rights Act and individual state laws, ensuring the child's best interests.

Eligibility to adopt varies based on whether the adoption falls under the Child Rights Act or state laws, with specific criteria for married couples, single persons, and guardians.

AALAWSNGaalawsng@mstdn.social
2024-09-17

Have you heard of the term, “Business Judgment Rule?”
#legalterm #legaltermoftheweek #law #aaLawsng #avielavenantelawpractice #judge

Business Judgement Rule Legal Term for the week A legal doctrine that protects directors from liability for honest business decisions made in good faith www.aaLawsng.
AALAWSNGaalawsng@mstdn.social
2024-09-13

How many questions can you answer right to win a prize from @aalawsng?
#lawtrivia #trivia
#avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw

True or False: Must a contract always be in writing to be legally binding? What is the term for a legal document that transfers ownership of property? Name three common types of business structures in Nigeria. What is the legal concept of "liquidation" in company proceedings? Which legal maxim means, "A thing speaks for itself"? www.aaLawsng.com Law Trivia 1 by @aaLawsng Friday September 13, 2024 Winner: First Instagram account to get the most questions correct. Prize: 1 free legal advice/ consultation session. logo of aalawsng
AALAWSNGaalawsng@mstdn.social
2024-09-12

The CBN issued guidelines for managing dormant accounts and unclaimed balances in Nigerian financial institutions.
Dormant accounts are those inactive for over ten years, and unclaimed balances will be transferred to the CBN.
#avielavenantelawpractice #law #aalawsng #nigerianlawfirm #nigerianlaw
#entrepreneurs #businessowners #cbn #banking #dormantaccount

Client Info

Server: https://mastodon.social
Version: 2025.07
Repository: https://github.com/cyevgeniy/lmst