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Nationality And Owing A Company - Business - Nairaland

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Nationality And Owing A Company by chilaz(m): 4:03pm On Oct 30, 2007
I registered a company in Nigeria in 1991 and operated the company before travelling abroad; eventually after many years in the foreign country, I acquired up foreign nationality that does not allow dual citizenship, which led to my giving up my Nigeria citizenship. What happens to my registered company in Nigeria and other landed properties I owe before travelling? How can I operate my company effectively? Though I have other 2 boards of directors when I registered the company that are still Nigerians. Does any one have any information on how to move on and run my company?
Re: Nationality And Owing A Company by walcolm(m): 8:15am On Nov 01, 2007
your company has probably been comatose since u left so, that one is not an issue

if you have landed property, they are still yours. anytime you get a visa to visit nigeria, i'm sure the properties will be there waiting for you.

you are free to dispose of them if you choose or continue keeping them
Re: Nationality And Owing A Company by omogidi234(m): 11:48am On Nov 01, 2007
Yes walcom I agree with you. However, the only condition that a company would be deemed to have gone comatose in the real sense is if the company has been wound up or it has been de-Registered by the CAC. Given that either of these two conditions has not occured, then the company is still in theory in existence. All you need to do is to make one or too inquiries at the CAC. As for the Landed properties, they will always be there for you since there is nothing in our law that bars a foreigner from owing a property. My fear is the Nigeria of 1991 is not that of 2007. It means anybody could have laid hands on the title documents and dispose off the properties. The starting point is to obtain a Nigerian Visa and find your way here. You could still be fortunate to have them.

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