Divine Crown Advocates & Solicitors

22/04/2024

13/03/2024

PUBLIC NOTICE FROM CAC

CAC UNCLAIMED CERTIFICATES

The Commission wishes to inform its esteemed Customers and the general public that 11,151 Certificates are still awaiting collection at its 37 Offices across the country.

The CAC hereby appeals to affected Customers to visit our offices for immediate collection from the date of this publication to 30th June,2024. Failure to collect the said Certificates at the expiration of the grace period will leave the Commission with no option than to follow due process and discard them.

Signed Management

CAC

29/01/2024

Before you buy that land/house in the name of your registered Business Name, upgrade it to a Company.

Brief your lawyer to tell you why.

07/12/2023

NEW MINIMUM PAID-UP SHARE CAPITAL FOR COMPANIES WITH FOREIGN PARTICIPATION

EXISTING COMPANIES WITH FOREIGN PARTICIPATION THAT HAVE LESS THAN THE NEW MINIMUM PAID-UP SHARE CAPITAL TO ENSURE COMPLIANCE WITH THE NEW MINIMUM PAID-UP SHARE CAPITAL NOT LATER THAN SIX (6) MONTHS.

The Corporate Affairs Commission on 5/12/23 notified the General Public that it has, in line with the Revised Handbook on Expatriate Quota Administration (2022), commenced the implementation of the requirement of N100,000,000 (One Hundred Million Naira) MINIMUM PAID-UP CAPITAL for Companies with foreign participation. Accordingly, any application for incorporation of a Company having foreign participation shall not be processed unless it complies with the above requirement.

They advised existing Companies with foreign participation that have less than N100,000,000 paid-up capital to ensure compliance with the above requirement not later than six (6) months from the date of this notice, failing which the Commission shall commence proceedings for the compulsory winding-up of the Companies under Section 571 (e) of the Companies and Allied Matters Act 2020.

Signed: Management 5 th December 2023



Signed: Management

5 th December 2023

03/08/2023

FILE YOUR ANNUAL RETURNS.

The Corporate Affairs Commission in complying with Section 692 (3) and (4) of the Companies and Allied Matters Act 2020 on Monday, July 31, 2023, published a notice on its commencement of the process of striking off of names of companies that have failed to file their annual returns for a period of 10 years from the Register of Companies pursuant to section 425 (3) of the Companies and Allied Matters Act, 2020.

The affected companies should note that any company that fails to comply with the provisions of the Act by taking steps to file its annual returns up to date within 90 days of publication by the Commission shall be struck off the Register.

The General Public is advised that it shall be unlawful for any company struck off the Register to carry on business unless it is first restored to the Register by an order of the Federal High Court.

05/07/2019

SAFEGUARDS WHEN PURCHASING A LAND:

Purchasing a land can be a thing of great joy, but if you are not careful, it could be a living nightmare!

The following are safeguards when purchasing a land.

1.Let a Lawyer be with you at the beginning of the Transaction. It makes the Land Speculators to do the right thing, from the beginning, knowing that a good Lawyer will detect fraud or discrepancies from the start.

2. Never make payments and sign documents later, most times after making payments, the Vendors become evasive and elusive, knowing there is nothing to look on to. Or after making payments, the vendors may not agree to certain terms on the documents.

3. Never pay cash for land purchases, do a bank transfer, issue a cheque or raise a draft, this is to ensure a trail of transaction !

4.Investigate title and ownership before purchase, don't believe every information given to you by the Vendor, there a lot fake and forged land documents out there !

5. If they said the Vendor is in abroad, insist on a Power of Attorney from the Vendor to a person here in Nigeria and go on line to verify the authenticity of the fact, by using social media channels to reach the Vendor.

6.Let the person who introduced you to the transaction sign as a witness for you and ensure the phone numbers of the vendor and witnesses are on the land just as you should capture the signing of the land documents in still and motion picture !

7.Always put dates in your Deeds of Transfer or Assignment.

8 .If the land document is registered, conduct a search at the Lands Registry to ascertain, if there had been a Transfer, if there was a charge, mortgage, caveat or any kind of encumbrance whatsoever, if it was not registered, do territorial search alone with out the Vendor. Make sure he has not sold to someone else.

9.If the Owner of the land is dead, demand for a document conferring ownership on the Vendor, Document of Sharing/partition, Deed of Assignment, Order from the Customary or High Court, Letters of Administration.

10.Take your documentation seriously, do not patronize quacks or business centres, be guided that according to law, every document relating to land must be prepared by a Legal Practitioner, failure of which, what you have will be a worthless sheet of paper! A void transaction.

11. If you were not sure of the genuineness of the Land, pay Instalmentally, do some work to ascertain encumbrance or otherwise .

12.Do not allow the Vendor to rush you, to make payments while doing a land transaction, being rushed is a red flag, that the land may not be genuine .

13.Always insist on a receipt for every payment made and insist on a separate receipt and indemnity for the land apart from the Deed.
13.Do a Survey Plan immediately after purchasing a land, and lodge it in the Lands Registry and if possible process your C of O or Governor's Consent

14.Do not buy a land and leave it to fallow, it is likely to be encroached on and make sure you have contact details of people around to alert you against any Trespass.

15.Make sure you have pictures and videos of the signing of the Land Documents, children, wife of the Vendor may feign ignorance of your transaction, if for any reason the Vendor dies. Even some vendors may deny signing such documents. Always sign in the presence of witnesses.

16.Do not allow the Vendor to get a Lawyer for you, get your Lawyer that will protect your interest .

17. Make sure the Community Leaders are aware of your purchase of land in their community, it makes fraud less likely .

18.Read through before signing a Land Document, dont sign what you dont understand .

19.You may require the Vendor to swear to an Affidavit of ownership and indemnity!!!. Many fake owners will not agree because they know they can be prosecuted for lying on oath n for fraud.

20. Buying a Land from an individual that is ascertained to be the Owner of the land, is likely to be more authentic than buying from the Community!!! Be more thorough, when buying from the Community!

21.Immediately you buy the land, start something on it, do not buy a land, when you are not ready to do anything on it, else you may lose your land and your money!!!!

22. If your buying a family land, make sure that the consent of all the principal heads, other members of the family or other joint owners are sought and obtained. Let them be witnesses or sign an authorization letter or document for you. And make sure the seller is the principal head of the family.

08/03/2019

You make the world come alive. You make the world colorful. You are the inspiration behind all that happens. You are the pillar of strength to many around you, the centrifugal force of your own little world, called family. I love being a women and celebrate being one everyday, hope you all do too!! And to all those who battle their various circumstances, the hurdles, the sacrifices and the compromises they make, wish them all inner strength! Happy Women's Day!

Deeba Salim Irfan

04/03/2019

SMART WAYS TO PROTECT YOUR BUSINESS LEGALLY.

Many Nigerians excitement of starting and running a business, sometimes, tend to overlook the legal formalities until they get into some big problems.

HERE ARE SOME TIPS ON HOW TO LEGALLY PROTECT YOUR BUSINESS IN NIGERIA.

REGISTER YOUR BUSINESS.
Before you spend your money printing business cards and putting up your sign-board, you should check to ensure your business name is legally available n register it. Someone else may register it n prevent u from using the name after u have established something with the name. More so, if not registered, several clients, especially the corporate ones will not patronise your business. .

Registering your business will not only safeguard its identity but also, enable it to operate fully as a business entity within Nigeria.

SIGN AGREEMENTS.
Even if the person is your friend, family, make sure you sign an agreement.

Protect your interests. Agreements ensure that all expectations are clearly laid out including all parties’ requirements and responsibilities. This way, if any problem arises, you can refer to the contract that was signed from the beginning.

TRADEMARK YOUR BRAND.
Trademarking your brand gives legal protection to intellectual property and brand elements like your product name and logo. This will prevent other companies and people from using them.

PATENT YOUR INNOVATIONS.
If you’re going through the pains to create something so unique, you should protect it. Patents enable you to protect your ideas from copycats and litigation.

22/01/2019

The most challenging clients are those that brief you after the situation has deteriorated. They rush to you expecting you to perform miracles after they've paid for that contentious land without a legal search, entered into that partnership without partnership agreement, performed that job/task without any binding agreement, entered into employment without any contract of employment or facing criminal prosecution for naively roping themselves into crimes.

All these could have been avoided by seeking and paying for legal advice.

I have no doubt that more than 50% of cases in our courts arose due to failure to seek legal advise at the appropriate time. There is need for people to always seek for legal advise in all they do.

Law transcends all spheres of human endeavour.

28/09/2018

BRIEF EXPOSÉ ON REGISTRATION OF BUSINESS NAMES
by
U.E. Agboro Esq.

INTRODUCTION
In our present day society, very few individuals and firms have their business names registered in accordance with the procedures laid down in the Companies and Allied Matters Act.(CAMA)
Therefore, with the Rise of Entrepreneurs in our modern day society, it is pertinent to bring to our awareness the notion of REGISTRATION OF BUSINESS NAMES and its antecedent implications.

DEFINITION
The name under which a business is carried on, whether in partnership or as an individual (sole proprietor) is referred to as Business Name.
Section 573 of the CAMA states to the effect that Every Individual, Firm or Corporation carrying on business under a business name in Nigeria, SHALL BE REGISTERED.
Section 574 goes on to further enunciate that registration shall be done within 28 days after the commencement of such business.
After due registration, a Certificate of Business Name registration shall be issued to the individual or firm. (Section 576 CAMA)

CONSEQUENCES OF NON REGISTRATION
Any firm or individual who fails to register it's buisness name, shall be liable to a fine of #50 for everyday in which default continues. Section 584 CAMA
Other consequences of Non registration includes but not limited to:
1* Unavailability of the business name where someone else registers it first.
2* Restriction in the opening of a bank account in an unregistered business name.
3* Contracts are rarely issued to firms whose business names are not registered.
4* The business name lacks the legal flavor which gives a client confidence in working with the individual or firm.

In conclusion, Equity aids the Vigilant not the indolent. So, endevour to register your buisness name as Ignorantia Judisis Non Excusat (Ignorance of the Law is not an excuse).

18/09/2018

1. Dear married couples, there is no such legal personality known as "Mr and Mrs Okoro". You can only have "Mr Kenneth Okoro" or "Mrs Patricia Okoro". You might just be creating a legal problem for yourselves when you use "Mr and Mrs Okoro" to buy those goods or properties.
If you are really interested in buying a property as a couple then your names should appear in the agreement as Mr. Chuddy Madu and Mrs. Che Chuddy Madu instead of Mr and Mrs Chuddy Madu.

2. Dear married couples (especially those who are married under the Act), all things been equal, it is advised that you change your next of kin to your spouse after wedding from your sibling or anybody else you used before wedding. Making your spouse your next of kin makes it easier for them to process any accrued benefit especially if either of you die intestate ( without leaving a will).

3. Dear intending couples, there are only two types of marriages recognised in Nigeria; 1.Marriage under the Act (Matrimonial Causes Act and Marriage Act), 2. Marriage not under the Act (Marriage under Islamic Law and Marriage Under Customary Law). The first is monogamous in nature while the latter is restricted polygamous and unrestricted polygamous in nature. For intending couples of the christian faith, there is no such thing as "church wedding". If your church is not a licensed place of worship and you only conducted customary marriage without going to the marriage registry, what they would have done in your church may just be a celebration and the blessing of your customary marriage.

4. Dear Boyfriend and Girlfriend, promising your partner that you would marry them when you know you have no intention of doing so may give rise to a civil action of breach of promise to marry resulting in damages (compensation) and the restitution of all monies spent and gift given. It may also give rise to a criminal action of obtaining by false pretence.