SAMPLE EXTRACTS OF MINUTES FOR INCORPORATED TRUSTEES

Requirements for Registration of Companies

This discussion focuses on requirements for the registration of a Private Company Limited by Shares, otherwise called Private Limited Liability Company or Ltd for short. The reason is not farfetched. It is the major brand of companies registered with the CAC in Nigeria. Apart from that, except for a few differences, the requirements are largely the same with other brands of company registrations. 1 - Proposed Names You must supply at least two proposed names for the company. They are called proposed (options) because until either of the names is submitted and reserved by the CAC for registration, you can’t use them for registration. Only the CAC can decide which name is appropriate for registration. Always state your preferred name first, because CAC looks at the first name stated, before considering the second. If approved, a name is reserved for 60 days. To know more about choosing a name for your business, read this article . 2 - Objects of the Proposed Company The objects of the

Be Wary of these Scams (2) - The Crypto Investment

Crypto currencies have become very popular. Although their acceptability as a means of exchange is still widely debated, it has come to be one of the greatest sources of investments in the world today. Since the advent of Bitcoin in 2009, there now exists over 20,000 crypto currencies in the world. As of August 15, 2022, the number of cryptocurrencies tracked by CoinMarketCap stood at 20,575. According to Finbold , this figure represents a growth of 709 new digital assets or a 3.5% increase from the 19,866 recorded on June 15. Nigerians are not left out in the craze to invest in cryptos. This is particularly true for teens and youths. And that’s why there is a need to watch out for crypto scams, because fraudsters have also gotten on the game. The United States’ Securities and Exchange Commission in a recent article posted on its website stated: We are concerned that the rising use of virtual currencies in the global marketplace may entice fraudsters to lure investors into

Requirements for Registration of Incorporated Trustees (NGOs, Associations, Foundations, Clubs)

Unlike business name and company registrations, registration of Incorporated Trustees (IT) is in a class of its own. This is because Incorporated Trustees are non-profit organisations (NGOs) and often end with Associations, Clubs etc. Since the coming into place of the CAC’s Company’s Registration Portal (CRP), the procedure for registration has become really simplified and less time-wasting. ITs are often registered for religious, educational, literary, scientific, social, development, cultural, sporting or charitable purpose. 1 - Proposed Names As in business name and company registration, you must provide proposed names. But unlike the former, Incorporated Trustees now allows for 4 proposed names. This is because the cost of reserving a name for IT registration is ten times more than that for reserving a business name or company. Application for Reservation of name for registration of an IT is called an application for consent to register the association with the CAC. A

EBR - Easy Business Registrations

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