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ESTABLISHING A MANUFACTURING OUTFIT IN NIGERIA

Manufacturing in Nigeria increased 3.40 percent in March of 2018 over the same month in the previous year[1]. This statistics highlights the growing concern and prospects in local manufacturing businesses in Nigeria.  However, in terms of the legal regulatory regime, the regulatory requirements differ according to the industry even though there are some generally applicable […]

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Updates on the Transfer Pricing Regime in Nigeria – The Income Tax (Transfer Pricing) Regulations 2018

Introduction The world has fast become a global village; therefore it is common to find instances of existing business relationships between two entities in separate countries. Entities are now able to extend their business endeavours to other countries with the aid of technology, which has additionally helped to ensure a smooth sailing of business operations […]

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PROPERTY OWNERSHIP – OBTAINING GOVERNOR’S CONSENT IN LAGOS STATE

Introduction Ownership of land is one of the most fundamental weapons of control and economic growth for nations, communities and individuals. The acquisition and ownership of land is an essential tool for economic development. As Babatunde Fashola, the Former Governor of Lagos State, noted in 2015  “In our basic economics, land is a very important […]

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ESSENTIAL CLAUSES FOR SHAREHOLDERS AGREEMENTS

INTRODUCTION Shareholders’ Agreements[1] are agreements  that describe and set out the mode of operation of  companies, the rights of respective shareholders and how they are to be exercised, the obligations, privileges and protection of minority shareholders amongst other relevant issues. In simple terms, a Shareholders’ Agreement is an agreement between shareholders. The utility of Shareholders Agreements […]

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Electronic Certificate of Capital Importation

Introduction Prior to the promulgation of the Nigerian Investment Promotion Decree (No. 16) 1995[1], the Nigerian economy experienced an alarming rate of diminution of foreign investments and capital flight as a result of the implementation of the Indigenization Policy in 1972[2]. The promulgation of the Nigerian Investment Promotion Decree (No. 16) 1995, and the Foreign […]

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