Anyone who carries on the business of Banking without first acquiring the license for it commits an offence, and is liable upon conviction to an Imprisonment term of not less than 5 (Five Years) or a fine of not less than N50,000,000 (Fifty Million Naira) only.
The speed of business dynamics demands the business organizations not only to revamp their internal business strategies like effective market expansion, increased customer base, product diversification, and innovation, etc., but also expect them to devise inorganic business strategies like mergers, acquisitions, takeovers, etc., that results in a faster pace of growth, effective utilization of resources, and fulfilment of increasing expectations of Stakeholders.
CONTRIBUTED BY TOBENNA MOGBO INTRODUCTION According to the defining law in Nigeria, a company can be founded by one, two, or more people. It can also be described as a body formed and incorporated as a legal entity apart from…
It may be that the purpose of establishing the company has been achieved. This is common with companies that are Special Purpose Vehicle (SPV), or the company is no longer a going concern, or a new government policy, or restructuring of the company.
Privatization can simply be defined as the transfer of a business, industry, or service from public ownership to a private ownership.
Would there ever be a time when Artificial Intelligence and preparation of Contracts will be in the same sentence? Yes, and that time is now. Lawyers deserve to enjoy the positivity that has come with the innovation of AI.
Oftentimes, legal advisory services are seen as unnecessary by start-up founders at the beginning of the companies due to a variety of reasons such as cost and the lack of time to find a good lawyer. However, founders are advised to engage the services of a good lawyer for their legal needs
There is no provision of law as it relates to the distribution of shares in a company amongst its members. Therefore, this sometimes creates an imbalance in the ownership structure of shares in a company, creating a class of majority and minority shareholders.
In the late part of the 18th century European Industrial Revolution, when mass production of consumer goods enabled enterprises to sell their items at a reduced cost, resulting in a surge in consumer demand.
