Category: Corporate Commercial Law
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The CAMA Rule Most Nigerian Companies Break on Their Letterheads, and How to Fix It Before 1 August 2026
The Corporate Affairs Commission (CAC) has announced its intention to fully enforce the provisions of the Companies and Allied Matters Act (CAMA) 2020 relating to information that must appear on company business documents. In a public notice issued on 7 July 2026, the Commission drew attention to sections 304 and 729 of CAMA, warning that…
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Can a Non-Executive Director Become an Independent Director on the Same Board in Nigeria? What the Nigerian Code of Corporate Governance 2018 Says
Introduction Companies in Nigeria frequently consider reclassifying an existing Non-Executive Director (NED) as an Independent Non-Executive Director (INED) on the same board. The reasons are often practical: achieving quick compliance with board independence requirements, leveraging the director’s existing knowledge of the company’s business, saving recruitment time and costs, and avoiding the lengthy onboarding process for…
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Performance Bond: An Owner’s Recourse in Contractual Default
The Performance Bond stands as a critical instrument in managing construction and high-stakes contractual risk, serving not merely as supplementary documentation but as a robust guarantee of project completion. It constitutes an agreement wherein a Surety guarantees an Owner (Obligee) that a Contractor (Principal) will faithfully fulfil its contractual obligations. In essence, the bond is…
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Understanding How To Prosecute a Copyright Infringement Claim in Nigeria: A Review of the Supreme Court’s Judgment in Ubom v. Globacom (Nig.) Ltd. (2025) 6 NWLR (Pt. 1985) 157
Introduction Copyright infringement is the unauthorised use of a copyrighted work without the authorisation of the copyright holder. Such unauthorised use includes: reproduction and distribution of the said work. A breach of contract, on the other hand, occurs when a party breaches the terms of the contract, and the other party decides to sue for…
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When a Pending Lawsuit Will Not Be Enough to Prevent the Winding Up of a Company: Key Lessons from Unifam Industries v. Ecobank (2019) 1 NWLR 187
Introduction The case of UNIFAM INDUSTRIES LIMITED V. ECOBANK NIGERIA LIMITED (SC.149/2005) was heard by the Supreme Court of Nigeria, with judgment delivered on Friday, 8 June 2018. The central issue revolved around whether a petition for the winding-up of a company due to its inability to pay its debts constituted an abuse of court…
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WHEN SHOULD YOU AMEND YOUR COMPANY’S MEMORANDUM AND ARTICLES OF ASSOCIATION (MEMART)? TRIGGERS YOU’RE LIKELY IGNORING
INTRODUCTION For many companies, the Memorandum and Articles of Association (“MEMART”) is drafted at incorporation and rarely revisited. Yet under the Companies and Allied Matters Act (CAMA) 2020, it remains the backbone of a company’s identity, governance, and operations. As businesses grow through capital raises, restructuring, or expansion, their MEMART must grow with them. An…
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Remedies Available to Aggrieved Minority Shareholders in a Company: A Review of the Supreme Court’s Decision in Mainstreet Bank Registrars Ltd and ors v. Temitope O. Oshinuga (2024) LPELR-62980 (SC)
Introduction A fundamental principle of company law is that a company is a separate legal entity distinct from its shareholders and directors. This distinction raises an important question: who has the right to sue when a wrong is committed against the shareholders or the company? Section 341 of the Companies and Allied Matters Act 2020…
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THREE REGULATORY RISKS TO BE AWARE OF UNDER THE COMPANIES AND ALLIED MATTERS ACT (CAMA) 2020
Introduction: In Nigeria, registering a company with the Corporate Affairs Commission (“CAC”) is only the first step towards building a compliant business. With the CAC rigorously enforcing the provisions of the Companies and Allied Matters Act (CAMA) 2020 and the Corporate Affairs Commission Regulations 2021, companies must prioritise statutory reporting and disclosure obligations to avoid…