Nigeria Start-up Act 2022: A Complete Small Business Guide
The Startup Act 2022 is a legal framework for tech startups. It provides for ease of business and a load of incentives for all labelled startups. Here’s what it means for you.
Register a NGO In Nigeria: A Complete Step-by-Step Guide
What are NGOs in Nigeria? NGOs or simply put non-profit organizations are set up by business operators or individuals to carry out acts of charity, social clubs, associations, or for religious purposes. In Nigeria, an NGO is a body or association of persons, registered under Section 823 Part F of the Companies and Allied Matters…
How to Register an Association in Nigeria
How Are Associations Defined in Nigeria In the Companies and Allied Matters Act (C.A.M.A) 2020 an association is a body of persons, registered under Section 823 of Part F of the Act known as Incorporated Trustees (I.T.) and its best suited for: Registering an association is similar to all other forms of entities under the…
The Complete Guide to Money Lending Business in Nigeria
Introduction A money-lending business is considered a type of financial institution. It is, however, limited to issuing consumer loans and debts. When you choose to get a money-lending business registered as a company, the share capital should not be less than N20 million. You will also need to fully understand and adhere to all laid…
How to Register a Company with CAC: A Practical Guide.
What is a Company in Nigeria? A company is a recognised legal entity formed by at least two persons to carry out a business activity with the aim of making profit. CAC recognises the following types of companies as provided in the Companies and Allied Matters Act; Limited Liability Company The owners of this type…
Withholding Tax Rates in Nigeria: A Practical Guide
Withholding Tax (WHT) is an advance payment on income tax. In practical terms, it’s a small percentage of your income that’s held back (or “withheld”) by the entity paying you, whether that be a business or an individual.
Let’s help you understand your WHT obligations and rates as a resident or non-resident company doing business in Nigeria.
The Nigeria Money Laundering Act 2011/2022: An In-depth Guide for SMEs
What is Money Laundering? The term “laundering” means cleaning. This translates money laundering literally to “money cleaning.” Money laundering is, however, broadly defined as concealing the origin of illegally earned money by converting it into a legitimate source. The perpetrators get most of these funds from illegal activities; for example, embezzlement, corruption, drug trafficking, kidnapping,…
Tax Exemption for New Companies in Nigeria: A Concise Guide
What are Tax Incentives? By lowering the amount of tax paid to the government, a tax incentive is a policy the government adopts with the goal of motivating people and businesses to invest more money in their operations. Who is Entitled to Tax Incentives in Nigeria? For ease of reference, we will classify companies into…
The Tax System in Nigeria: A New & Updated Overview
Key Stakeholders in the Tax System in Nigeria The Government This includes the federal, state, and local governments with their respective ministries and agencies. The government is obligated to: The Taxpayer A taxpayer is a person or group of persons or an entity that pays or is liable to tax. As a taxpayer, you are…
60 Self-employed Business Ideas You Can Start In Nigeria
With just your internet and laptop, you can get going right now.
