In Nigeria, there are certain individuals who are prohibited from serving as a director of a company. The Companies and Allied Matters Act (CAMA) outlines these disqualifications and restrictions.

1. INSOLVENT INDIVIDUALS: An individual who is declared bankrupt or is under a debt management plan is disqualified from being a director.

2. CONVICTED FELONS: Convicted felons: Individuals who have been convicted of an offense involving dishonesty or fraud are not eligible to serve as a director.

3. MINORS: Individuals who are below the age of 18 years are not eligible to serve as a director.

4. UNFIT INDIVIDUALS: Individuals who have been found to be of unsound mind or who are under a legal disability are prohibited from being a director.

5. DISQUALIFIED DIRECTORS: Individuals who have been disqualified from serving as a director by a court order or regulatory authority are not eligible to serve in this capacity.

It is important to note that the disqualifications outlined above apply to both executive and non-executive directors. Additionally, if a director is found to have acted in contravention of these restrictions, they may be held liable for their actions and face sanctions, including fines and imprisonment.

In conclusion, being a director of a company in Nigeria comes with its own set of responsibilities and obligations. It is important for individuals to ensure that they are eligible and qualified to serve in this capacity before accepting a directorship appointment.

For Company Formation and Restructuring, feel free to contact us

Tolulope Oguntade 
Regville Associates 


The Corporate Affairs Commission (CAC) is the regulatory agency responsible for registering and regulating companies in Nigeria. The removal of directors in Nigeria is governed by the Companies and Allied Matters Act (CAMA) which provides the legal framework for the appointment and removal of directors in Nigerian companies.

According to CAMA, directors can be removed by:

1. RESIGNATION: A director may resign from their position at any time by giving notice in writing to the company.

2. RETIREMENT: Directors are required to retire at the annual general meeting of the company and may be re-elected if they wish to continue serving on the board.

3. TERMINATION BY THE COMPANY: The company may remove a director by passing a resolution to that effect at a general meeting of the shareholders.

4. TERMINATION BY THE CAC: The CAC may remove a director if they are found to have acted in a manner that is prejudicial to the interests of the company or if they have been declared bankrupt.

It is important to note that the removal of directors must be done in accordance with the provisions of CAMA and any relevant regulations. The CAC may investigate and enforce compliance with these provisions to ensure the proper removal of directors.

For corporate restructuring process and filing, feel free to contact us

Tolulope Oguntade 
Regville Associates 


Investopedia – Partnership

INTRODUCTION: In Nigeria, partnerships are governed by the Companies and Allied Matters Act (CAMA) 2020. Partnerships in Nigeria can be classified into three types: general partnerships, limited partnerships, and limited liability partnerships.

GENERAL PARTNERSHIPS (GPs), are formed by two or more individuals who share the profits and liabilities of the partnership. The partners are jointly and severally liable for all the debts and obligations of the partnership, and each partner has the right to take part in the management and administration of the partnership.

LIMITED PARTNERSHIPS (LPs), on the other hand, consist of one or more general partners and one or more limited partners. The general partners are liable for all the debts and obligations of the partnership. In contrast, the liability of the limited partners is limited to the amount of capital they have contributed to the partnership. Limited partners do not have the right to participate in the partnership’s management and administration.

LIMITED LIABILITY PARTNERSHIPS (LLPs) are similar to limited partnerships, but the liability of all partners is limited to their capital contributions. This type of partnership is suitable for professional firms such as law firms, accounting firms, and consulting firms. An LLP may acquire, own, hold and dispose of property, as well as bring and defend actions in its own name. A partner in an LLP could be a Company. Each LLP must have a minimum of two authorized partners, at least one of whom must be a Nigerian national. LLPs are managed by a membership agreement or a partnership agreement and do not have any share capital.

To register a partnership in Nigeria, the appropriate forms and fees must be submitted to the Corporate Affairs Commission (CAC). Additionally, the partnership must have at least two partners and must be registered with the CAC.

It is strongly recommended that partners enter into a partnership agreement to govern the relationship between themselves and the partnership. It is also worth noting that Partnership is not taxed as an entity, but the partners are taxed on their own income.

In conclusion, understanding the nuances of the different types of partnerships and the registration process is crucial in ensuring the smooth running of the partnership business in Nigeria. It is advisable to seek legal advice before entering into a partnership agreement or registering a partnership with the CAC.

For more guidance and registration of Partnership in Nigeria, feel free to contact us

Tolulope Oguntade 
Regville Associates 


Corporate Affiars Commission (CAC)

The Corporate Affairs Commission (CAC) of Nigeria is a government agency responsible for the registration and regulation of companies and businesses in Nigeria. It is tasked with the responsibility of regulating the formation, registration, incorporation and management of companies and businesses in Nigeria. Its aim is to ensure compliance with the laws and regulations that govern the formation, registration and operation of companies and businesses in the country. The commission also maintains a database of registered companies and businesses and makes this information available to the public. The CAC also has the power to deregister companies that do not comply with the laws and regulations or that have become dormant.

There are several benefits of registering a company with the Corporate Affairs Commission (CAC) in Nigeria, including:

1. LEGAL RECOGNITION: A registered company is legally recognized as a separate entity from its owners and has the ability to enter into contracts, borrow money, and sue or be sued in its own name.

2. LIMITED LIABILITY: Shareholders of a registered company are typically only liable for the debts of the company to the extent of their unpaid share capital.

3. CREDIBILITY: Registering a company with the CAC can enhance the company’s credibility and reputation, as it demonstrates a commitment to compliance with legal and regulatory requirements.

4. ACCESS TO FUNDING: Registering a company with the CAC may be a requirement for accessing certain forms of funding, such as bank loans or venture capital.

5. EASE OF DOING BUSINESS: Registering a company with the CAC can make it easier to do business, as it can streamline the process of opening bank accounts, applying for permits and licenses, and other administrative tasks.

In conclusion, registering a company with the Corporate Affairs Commission (CAC) in Nigeria offers several benefits that can help a business to operate legally and efficiently. These benefits include legal recognition, limited liability, increased credibility, access to funding, and ease of doing business. By registering with the CAC, a company is demonstrating its commitment to compliance with legal and regulatory requirements, which can enhance its reputation and make it easier to do business. Overall, registering with the CAC is an important step for any business looking to establish itself and grow in Nigeria.

For assistance on Company Formation and Compliance, feel free to contact us

Tolulope Oguntade 
Regville Associates


Non-Governmental Organizations

Yes, it is possible for a foreigner to register an NGO in Nigeria, but they must first obtain a Combined Expatriate Residents Permit and Aliens Card (CERPAC) before registering the NGO. It is also recommended to use local trustees for the registration process. The registration of an NGO in Nigeria is regulated by the Corporate Affairs Commission (CAC). The process includes conducting a name and availability search, completing and submitting incorporation application forms, publicizing intentions of registering in three newspapers, and submitting required documents to the CAC. The entire process can take around 2 months to complete.

Non-governmental organizations (NGOs) in Nigeria are independent organizations registered by the government but operate outside government control. They are typically non-profit and focus on a variety of social and economic issues, such as poverty reduction, education, healthcare, and human rights. Some well-known NGOs in Nigeria include ActionAid, the Nigerian Red Cross Society, and the International Committee of the Red Cross.

For assistance regarding NGO registration, feel free to contact us

Tolulope Oguntade 
Regville Associates


Private Security Company


When it comes to protecting the safety of lives and properties in Nigeria, several private companies out there have played significant roles over the decades. It should be noted that this industry has been very competitive in the aspect of providing job opportunities for Nigerians.

According to certain records, the National Bureau of Statistics in 2019 recorded over 1,110 registered private companies, employing around 828,502 applicants in Nigeria from 2013 to 2018. As a result, this shows how several people consider this job as a good-paying one.

Moreover, the information regarding the number of people employed by various companies was compiled and supplied by the Nigeria Security and Civil Defence Defence Corps (NSCDC), which serves as an agency that was authorized by law for the purpose of supervising private security guard companies in Nigeria.

This article offers relevant information that relates to the legal requirements for setting up a private security guard company by virtue of the Private Guard Companies Act, CAP P30, LFN 2004.


You should know that a security company has to be registered at the Corporate Affairs Commission (CAC) as a limited liability company. This is because the company is expected by law to have a minimum share capital of N10,000,000 (Ten Million Naira) with the object as the provision of private security services.

Requirements for registration at the Corporate Affairs Commission

  1. Two proposed names have to be provided which stipulate the preferred name of the company or an alternate name.
  2. The address of the head office and branch offices has to be provided.
  3. There should also be a share capital and shareholding formula among the shareholders.
  4. The company must have the particulars of at least three directors. This will their phone numbers, email addresses, residential addresses, passport photographs, copies of any of their identity card (driver’s license/voters card, national passport/national identity card)

It is also imperative to note that one or most of the directors of the company must be retired military or paramilitary personnel, and their rank must be the rank of Major or Commissioner. This is how the process works as no foreigner is allowed to become or act as a director.

  1. Secretaries of the company must have particulars of the company, passport photographs, and any other possible means of identification.
  2. Shareholders must also have particulars, who will act as the first subscribers of the company.
  3. The Corporate Affairs Commission has A Memorandum and Articles of Association (MEMART) irrespective of new companies to employ and adopt. On the other hand, it is best to seek a legal practitioner to draft an article, due to the peculiarities coupled with setting up a security company in Nigeria.
  4. Applicants are required to pay the filing fees to the CAC and Stamp Duties to the Federal Inland Revenue Services (FIRS). This is based on share capital. It is also important to make a budget for professional fees for the legal practitioner in offering assistance during the course of the process.

All these requirements as stated above should be in place, the statutory CAC forms will be filled online and the company will be duly registered. The next stage would be to focus on obtaining a Private Security Licence from the NSCDC.


Registering with the NSCDC is very vital for any security company before a license can be granted for operation. However, the NSCDC outlined the requirements every security company must meet before obtaining a private security license. They are stated below;

  1. An application for a private guard license must be tendered to the NSCDC, which must be addressed to the Commandant General of the NSCDC.
  2. There must be evidence of a company’s registration which involves a minimum of N10,000,000 paid up share capital and a minimum of 3 directors.
  3. Every security company must provide certified True Copies of the Memorandum and Article of Association.
  4. Photocopies of the Certificate of Incorporation must be provided.
  5. Must provide Tax Clearance Certificate.
  6. Must Obtain a statement of account from a bank.
  7. A letter from a legal advisor has to be provided.
  8. A letter from an Auditor must be provided.
  9. Letter from Bankers.
  10. Proposed training program.
  11. The proposed salary structure must be provided.
  12. Veterinary certificate (Optional) Applicable if security animals are used.
  13. All directors must obtain Personal History Statements (PHS) forms. The price is One Hundred Thousand Naira (N100,000), which is very important for all directors to have one. This form has to be filled by the directors stating ‘Nil’ or ‘Not Applicable’ at portions they do not have specific answers to, and every column should be filled.
  14.  There should also be two copies of the Academic credentials of directors to be attached to the PHS form.
  15. Each director has to provide eight passport photographs.
  16. This eight full photographs postcard should be sized 5 x 7 inches with a white background, five fingerprints, and a signature signed on the back of the postcard.
  17. Must provide a photocopy of the signature page of the Directors in the International Passport, Drivers License, or National ID Card.
  18. Every director must provide attestation letters from 3 referees each.
  19. There should be one uniform sample. This involves how the security officer will be dressed when discharging duty. They include; a complete set of shoes, clothes, and a cap) Additionally, a photograph of a guard in uniform would serve as a sample, and all uniforms must not have the same appearance as any governmental agency or any other Private Guard Companies.
  20. An application fee of Five Hundred Thousand Naira (N500,000) must be provided.

All the requirements mentioned above must be completed during the assessment of applications by the NSCDC which would be forwarded onward to the presidency.


Note that all requirements stated in stage two will be presented by the NSCDC to the Presidency for final check and clearance of all the directors.

Additionally, the President will issue a letter containing security clearance to the NSCDC and the stated company will be invited to make payments as regards the license fees.

However, there are two categories of licenses for private security guard companies which will be stated below;


Category A: Note that the company can have the capacity to have more than 3000 guards. The license fee is N3,000,000 (Three Million Naira Only)

Category B: Under this category, the company’s maximum amount of guards is only 3000 guards. The license fee here goes for N3,000,000 (Three Million Naira Only)

Importantly, A license may be approved by the Ministry and issued by the company if the payment for a license under any of the categories is completed and the Commandant General of the NSCDC recommends the company.


According to Section 2(1) of the Private Guard Companies Act, (PGC Act) A formal application for a license is submitted to the Minister of Internal Affairs through the licensing authority. Section 3 of the Act allows the Minister to give a permit only if he believes it is justified in terms of national security and public interest.

Private security guard operations are currently managed by the Ministry of Interior. The NSCDC helps the Ministry do this. By virtue of Section 3 of the NSCDC Act, the NSCDC is required to recommend to the Ministry the registration of private guard companies.

The NSCDC functions through its Private Guards Companies Department to be effective in its duties. The licensing process only involves the agencies mentioned above, so it is important for license applicants to be aware of this. Therefore, applicants should watch out for scammers.


The security company must renew its license three months before it expires following the first issuance of the license to the company.

Section 11 (2) provides that “where the holder of a license fails to renew such license within the specified period, the license shall stand revoked upon its expiry and the such holder shall thereupon cease to operate as a private guard company”.


Below are the requirements for the renewal of a license, which will be stated below;

  1. Application Letter for Renewal of Operational License.
  2. Last Letter of Renewal or Copy of License.
  3. Annual Performance Report (Report of activities of the company in the preceding year).
  4. Current Tax Clearance Certificate.
  5. Evidence of Payment for renewal of the license. Note that this payment method must be transacted into a designated bank account.
  6. Current statement of Audited Account of the Company.
  7. Staff Return (Staff list, Designation, and Salaries).


There are strict rules and regulations when registering and running a private security company in Nigeria which every company must comply with. These rules are strict to the extent that even when there is a slight departure from the established regulations stated, it could lead to the disintegration of the company or revocation of the operating license.

Therefore, every company should make a smart move by retaining the services of a legal practitioner to assist them concerning issues of regulatory compliance and filing of yearly returns/reports with the appropriate agencies.

Tolulope Oguntade 
Regville Associates

Starting a Pharmaceutical Company in Nigeria

Pharmaceutical Company

According to the law in Nigeria, the Companies and Allied Matters Act 2020 and the pharmacy Council of Nigeria have paved the way for incorporating a pharmaceutical company. As a result, this encourages everyone with their field of specialization to own a pharmaceutical company and also invest in it.

Note that one of the fastest-growing and most lucrative industries in Nigeria is the pharmaceutical industry. The registration of pharmaceutical companies in Nigeria is carried out and supervised by The Pharmacy Council of Nigeria (PCN) a statutory organ of the Federal Government of Nigeria, set up pursuant to decree 91 of 1992

What is a pharmaceutical Company?

A pharmaceutical company produces the likes of markets and acts as a medical drug distributor to patients to cure, vaccinate, or even alleviate their symptoms. So if you plan to establish a pharmaceutical company in Nigeria, this article is for you.

Based on how this article is detailed, you will learn how to set up a pharmaceutical company, the kinds of persons that are eligible to set up pharmaceutical companies, the registration requirements, and also the stated procedures to be followed to obtain the license to set up and run the business. 

However, the Pharmacy Council of Nigeria (PCN) serves as a self-regulatory organization that plays a crucial role in regulating, licensing, operations, and monitoring pharmaceutical businesses in Nigeria.

Procedure to Register a Pharmaceutical company in Nigeria

The first thing about registering a pharmaceutical company is that it can either be registered as a private limited company or a public limited company. However, the preferred choice made by most medical experts is to register as a private limited company.

Additionally, the categories of pharmaceutical companies that can be registered in Nigeria are three. They include; pharmaceutical retail, wholesale, and manufacturing.

Requirements for Registration

Pharmaceutical Retail Company

What a retail pharmaceutical company does is sell drugs to people. They are usually known as a pharmacy, chemists, or drugstores. For a retail, pharmaceutical company to function, it must be fully owned by a registered pharmacist or must be in partnership with other registered pharmacists.

A wholesale pharmaceutical company

The job of this kind of company is to import and distribute drugs, poisons, and devices. For this kind of company to operate, it requires at least one registered pharmacist on the Board of Directors of the Company. However, the transactions of the business must be executed under the direct personal control and management of a Superintendent Pharmacist.

A pharmaceutical manufacturing company

The pharmaceutical manufacturing industry works on the manufacturing of drugs. To register this kind of business, there must also be at least one registered pharmacist on the Board of Directors of the company. Additionally, the business operation must be done under a Superintendent pharmacist’s direct personal control and management.

Step 1: Company Registration

As mentioned before, most medical personnel prefer to register as a private limited company. Therefore, it is advisable also to do so. The reason why a private limited company is the most preferred choice for a business start-up is that there is ease of registration when it comes to costs and requirements. As for share capital, there is no specific threshold amount. Nevertheless, the company can also be registered with one million share capital.

2. Application for Inspection of Premises

Registering your pharmaceutical company will be one of many things you should do. You also have to take some necessary steps to obtain the business license, which comes after the scrutinization and approval of the business premises to be used.

In Essence, the pharmaceutical inspectors from the PCN would inspect your business premises for the purpose of ensuring that your business operation is in compliance with the provision of the regulation. This will be done before your pharmaceutical business will finally commence.

When it comes to the law, there are some ethics to follow, and the law on the inspection of the premises of pharmaceutical companies must be followed. The following guideline will be stated below.

  • The pharmaceutical premises must be located in specific locations like; motor parks and environments where commercial activities and enterprises are rapidly growing.
  • It must be outside a marketplace where the likes of kiosks and roadside retail are present.
  • All pharmaceutical premises should be at most three within a shopping mall, and there must be enough space between both businesses.
  • Pharmaceutical businesses should be at most two hundred meters away from each other.
  • The pharmaceutical business should be moved to another location if it is surrounded by a growing market close to it.

Required Details to Register a Pharmaceutical Retail, Wholesale, or Distribution Company

Note that all applications for the registration of new pharmaceutical retail or any other related business should be submitted to the Registrar of the Council through the Director of Pharmaceutical Services of the state of operation. Below are the following documents to be submitted as application documents.

  • An application letter (the company’s letter headed paper) to the recipient
  • A Duly completed form which includes (PCN’s Application Form for the Registration of Premises)
  • A photocopy of the Annual License must be provided
  • A bank draft that contains the prescribed inspection and registration fees, which is payable to the council
  • Copy of a letter of resignation from previous employment (if necessary)
  • Letter of acceptance of resignation (if necessary)
  • Letter of Appointment in the new premises (where applicable)
  • There must be a legal agreement between the Superintendent Pharmacist and his employer.
  • Must provide the company’s certificate of Incorporation (this involves evidence of registration of the business name, which is acceptable as regards Pharmacist-owned retail premises)
  • Must provide a certified copy of the company’s Articles and Memorandum of Association
  • Certified copy of Particulars of the company’s Directors as issued by the Corporate Affairs Commission.
  • A copy of the NYSC Discharge or Exemption Certificate (if necessary)
  • Must provide a letter of undertaking signed by the Managing Director of the company that all pharmaceutical businesses would be under the direct, personal, control and management of the Superintendent of the Pharmacist
  • A pharmacist Inter-state Movement form (if necessary)
  • Evidence of a pharmacist on the Board of Directors and the current Annual License of the pharmaceutical Director

Additional requirements for the registration of pharmaceutical manufacturing premises

The likes of the pharmaceutical retail, wholesale, distribution, and importation have the same process as a pharmaceutical manufacturing company. It is, therefore important to note that as far as a pharmaceutical company is concerned, there are certain procedures to follow during the course of registration. Below are the requirements every pharmaceutical manufacturing company is expected to make available to the council.

  • Accurate product lists to be manufactured.;
  • An Organogram;
  • List of staff qualifications and duties;
  • Factory layout;
  • Production flow-chart;
  • Equipment list in the production and quality control departments;
  • Water source and water treatment facilities;
  • Accurate list of sources of suppliers of raw materials;
  • Standard Operating procedures.
  • Standard cleaning procedures (this involves the procedures and payment of the inspection fee as regards to bank draft of N130,000, which is payable to the Pharmacists Council of Nigeria.


Pharmaceutical businesses are so important since they provide more than potential cures and lifesaving treatments. In addition to this, they also make way for fulfilling jobs in the pharmaceutical industry, thereby fuelling the global economy.

For Pharmaceutical Company Setup, Feel Free to contact us

Tolulope Oguntade 
Regville Associates




It’s the Holiday Season; it is a time of reflection, visiting friends and loved ones, meeting old friends and colleagues, sharing thoughts, giving to friends and family, giving back to society, and impacting lives. Sometimes, we desire to formalise this gathering, meeting, giving back, giving it a structure, and making it go beyond this season, then thoughts of a foundation, NGO, club, etc. sets in.

Here is a guide to setting up your NGO, Club, Foundation, Society,

  1. OUTLINE YOUR PURPOSE OR MOTIVATION. NGOs are generally set up to advance religious, educational, literary, scientific, social/cultural development, and sporting and charitable causes.

Identify and outline your primary purpose and motivation.

  1. DRAFT OUT A LIST OF NAMES: Draft a list of names that align with or reflect your purpose, e.g. Tolulope Oguntade Foundation, Advocacy for Better Governance, Resistance Against Domestic Violence, Sokoto Youths for Better Education etc.

The names must be unambiguous, not identical or nearly resembles any NGO already registered, must not be undesirable, offensive or otherwise contrary to public policy, or must be capable of undermining public peace and national security.

  1. PEN DOWN THE TRUSTEE(S). A Trustee acts as a guardian for the NGO who protects and maintains the core values and purposes of the NGO. As a collective body, the trustees hold the authority and responsibility to ensure the fulfilment of an NGO’s mission. A person qualified to be appointed a Trustee must not be under 18 years of age, unsound mind; undischarged bankrupt; or convicted of an offence involving fraud or dishonesty within five years of his proposed appointment.

When choosing a Trustee, consider their views, opinion and what they stand for, and make sure it aligns with your purpose and objective of setting up the NGO in the first place.

  1. ENGAGE AN ACCREDITED SOLICITOR: Registering an NGO at the Corporate Affairs Commission requires expertise and know-how; the Solicitor or Firm will help in:

a. The Consent of the RG is required by law to register an NGO; the request form requires three (3) Name Options, Aims, and Objectives of the NGO, Tenure of Trustees, Personal Details of Trustees, Head Office of the Organization, etc

b. As required by law, The Solicitor will publish details of the NGO in two widely spread newspapers; if there is any opposition to the registration, that should be addressed to the Registrar General.

c. The Constitution of the NGO will also be drafted by the Solicitor, which sets outs the internal affairs of the NGO

d. The Minutes of the first meeting will be drafted by the Solicitor, detailing the members present, the appointment of the Trustees, the mode of appointment, adoption of the Special Clause

e. The Solicitor shall also present to each Trustee a Declaration Form to fill, affix passport, and sign declaring that he/she is not an infant, not of unsound mind, has not been declared bankrupt etc. the declaration must be made before a Commissioner of Oaths or a Notary Public.

  1. SETTING OUT: Once the NGO is registered, it becomes a legal entity, having a life, can acquire assets, sue and be sued, and Bank Accounts can be opened in the name of the NGO. Formal meetings can be called for to discuss the Aims and Objectives of the NGO, and you can call for Donations and Pledges both from members are the public.


NGOs are not for profit-making. Hence, they are exempted from some taxes, including Company Income Tax and Education Tax; the donations received are primarily meant for the aims and objectives of the NGO.

For more information, guidance, and registration of NGOs, we are readily available to help.

Tolulope Oguntade 
Regville Associates