Corporate Governance Issues in Not-For-Profit Organizations (NFPOs) in Nigeria

Not-for-Profit Organizations (NFPOs) are voluntary organizations that are not state controlled.  NFPOs play an important role in bridging the gap between the government institutions, donors, agencies and the communities; organizing poor people, facilitating collective action, representing the poor in advocating for their rights and in some cases supplying basic amenities to sustain livelihood. NFPO’s are an important part of a

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DEVELOPING SOCIAL CAPITAL FOR BUSINESS GROWTH

How to Ignite Your Networks for Business Impact Several professionals have considered the entrepreneurship option at one time or the other. For some, the risk involved is just too high. Some even ventured into entrepreneurship and failed. While some of the business failures are attributable to the harsh business environment, poor infrastructure, wrong business model, inadequate access to funding, regulatory somersault, and extreme competition

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PERSONAL INCOME TAX FILING

As we prepare to conclude this phenomenal year and celebrate the Christmas & New Year holidays, we will like to quickly bring to your attention the personal income tax filing obligations that every employer or business owner is required to prepare for in the coming year… Preparations for 2021 should include plans to render income tax returns due in the

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CROWDFUNDING OF START-UPS IN NIGERIA – UNDERSTANDING THE CONCEPT, OPPORTUNITIES AND THE REGULATORY FRAMEWORK

Start-ups are generally more financially constrained than larger existing firms and are also less likely to have access to formal finance. Across the globe, they face difficulties in securing capital from the traditional financing models and these constraints are even more pronounced in less developed countries. This has led to the creation of alternative financing sources outside the conventional bank

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The New Liquified Petroleum Gas Guidelines: Key Considerations for Investors & Operators

The Department of Petroleum Resources in Nigeria (DPR) recently approved new guidelines for the accommodation of more Liquefied Petroleum Gas (LPG) investors and operators across the country. The new guidelines are in line with the federal government’s plan to achieve over five million metric tonnes (5,000,000 MT) of domestic, commercial, and industrial LPG utilization in the next 10 years. It

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HIRING AN ACCOUNTANT IS AN INVESTMENT DECISION

If you have a multimillion naira business. How much would you be willing to invest in accurate accounting and analytics to aid decisions?  There’s a need to minimize expenses. Yet, it’s imperative to always ensure accurate book keeping that provide insights for real time decision making process. When evaluating your options, it is important to bare the following in mind.

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UNDERSTANDING THE IMPACT OF SEC NEW GUIDELINES ON CROWDFUNDING

MSME’s in Nigeria experience difficulties when raising capital from conventional models. As a result, more businesses are beginning to explore emerging financial alternatives like crowdfunding and this has created a corresponding need for more scrutiny and oversight by the government. In response to these concerns, the Securities and exchange Commission (SEC) announced on January 25, 2021, its new rules and amendments

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Registering a Business in Nigeria

With so many great ideas around the country, the choice of registering a business is a strategic decision which an entrepreneur must make in a bid to transform an idea into a profitable business venture. The law that deals with the registration and regulation of a business in Nigeria is the Company and Allied Matters Act (the “CAMA”). The CAMA

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