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Business / CAC Has Directed All POS Owners And Agents To Register by elyonchee(f): 11:29pm On May 07
What is POS?
Point of sale
The CAC has a standard share capital for Point of Sale Merchants, Terminal Owners or Terminal Aggregators.
Point of sale merchants are financial and non-financial institutions.
For Merchant Pos terminal ownerships, Point of Sale Terminal aggregators and Pos merchant and agent training support is 100m share capital.
POS Involves withdrawal, payments for personal or professional obligations, deposit and transfer
of funds via a point of sale.
Being a Point of sale agent for a merchant, one can register as a company or business name. But, if you own a POS terminal or you engage in Point of Sale machine disbursements or business training and ownership it is 100m share capital.
For Pos agent for a merchant company, business name or company limited by shares. It is better to register in the latter business entity structure.
The deadline for registration is 7th of July, 2024.
Business / Re: Change Of Your CAC Particulars by elyonchee(f): 12:17pm On Apr 17
elyonchee:
If your bvn name does not correspond with your CAC name, just do an affidavit and include the the name on bvn and nin slip on the affidavit
Then file for particulars if you are a director, persons with significant control, secretary, proprietor, partner, shareholder or trustee.
Note: Filing of particulars in your CAC document, can be done by a CAC Accredited Agent.
You can't do this change without filing up to date your CAC annual returns. Whether you have started the business or not, annual returns is compulsory.
08117409752 whatsapp or call
Email: Infofrankincenselegalservices@gmail.com
Business / Change Of Your CAC Particulars by elyonchee(f): 12:16pm On Apr 17
If your bvn name does not correspond with your CAC name, just do an affidavit and include the the name on bvn and nin slip on the affidavit
Then file for particulars if you are a director, persons with significant control, secretary, proprietor, partner, shareholder or trustee.
Note: Filing of particulars in your CAC document, can be done by a CAC Accredited Agent.
You can't do this change without filing up to date your CAC annual returns. Whether you have started the business or not, annual returns is compulsory.
08117409752 whatsapp or call
Email: Infofrankincenselegalservices@gmail.com
Business / Re: Why Do Business Loans Applications Get Rejected? by elyonchee(f): 8:09pm On Apr 14
Because they didn't file for annual returns. Once, they file for annual returns, it will become active.
Annual returns for CAC is mandatory and it doesn't matter if you have commenced business or not.

1 Like 1 Share

Business / Maybe Old CAC Entities May Not Really Have Only One Single Shareholder And Direc by elyonchee(f): 11:49am On Apr 10
So, a colleague of mine said she was trying to remove two shareholders and add retain only one but CAC queried it.
It may seem as though, CAC application of single shareholder and single director only applies to newly registered limited by shares company. That is companies that were registered from 2021.
Those that were registered from 2020 it is not allowed.
So, if you an old limited by shares company and you want to change shareholders, the minimum the company can have is two.
If you are trying to add a new shareholder and then transfer all shares to the new shareholder, it cannot be possible. You can only remove some percentage of shares, and transfer to the new shareholder.
I am a CAC Accredited Agent and Creative Writer
Check my profile and other posts.
08117409752 whatsapp/text /call or email barristerchee2016@gmail.com
Business / CAC Annual Return VS Tax Return by elyonchee(f): 7:20am On Apr 03
Many business owners, often interchange the two. CAC annual return and Tax returns, are two different financial returns.
CAC annual returns is filed by a registered entity to Corporate Affairs Commission. While tax returns, is filed to Federal Inland Revenue and State Inland Revenue Services.
The CAC annual returns is a statement of Affairs returns. It is used to update status of entities from inactive(red button) to active(green button). It is now compulsory to file CAC annual returns before updating a post incorporation change.
That is, an entity which is due to file CAC annual returns, can not retrieve their lost CAC documents, change name, address, signature, the business officers particulars, increase share capital, without filing CAC annual returns. Where an entity is due to file and in default, all default years, must be duly paid for. So, if an entity was registered in December 2018 and It is a limited by shares company, it has to file for 2020, 2021, 2022 and 2023. For business name and incorporated trustee, it is yearly after year of registration. If the business name or incorporated trustee was registered on December 2017, It will file for 2019, 2020, 2021, 2022 and 2023.
Failure to ignore filing of CAC annual returns for years, can lead to striking out of your business from Corporate Affairs Commission and once your business is struck out, they will notify the public not to trade with struck out entities until they are relisted through court order.
For tax returns, the entity must have a tax identification number. Entities have certain percentage of returns. For instance VAT is 7.5 percent. New entities pay for assessments based on the transaction inflow in their corporate accounts.
Entities registered by CAC from August 2023 can assess tax promax. We have Company Income tax, Withholding tax, Value Added Tax, Capital gains, Personal Income tax.
Tax returns is not the same thing as CAC annual returns. If your tax returns is up to date, you can file for tax certificate.
Your tax returns can be attached for visa applications if you are using your business account and for prove of ties to your country as a self-employed person.
You can also apply for tax waivers, if you are a newly registered business.
Visit the nearest tax Federal and state office for your business tax id if you haven't gotten anyone.
The end
#cheewrites.
Investment / Re: My Review On Legit Online Jobs That Pays Daily by elyonchee(f): 9:12am On Mar 27
RiyadhGoddess:
Hello.
I am here to write a review on an online program I found of recent that is Legit. It's 101% real and pays real fast. If you are among my WhatsApp family, you already know what I'm about to talk about.

So lately I've found myself glued to my laptop leaving my biological family members wondering if I've gotten myself into yahoo lol. This program really needs lots of hardwork eh.
So now I take my laptop to my shops everyday. When I am not attending to customers, I do my online assignments.
Though I work with 3 programs or platforms. One international and two local ones I mean 9ja made. The international one I work with is ok but it's kind of difficult to get to the minimum withdrawal threshold if my grammer is right. I need a program that's easy so I work on it only based on my mood. For the 2 local programs, they are my main online hustle and they pay me fast. The task are very easy and fun. Just that this one I'm about to talk about pay high the the other but both are OK. If you want to know about the other one, chat me up.


So if you are always online and not earning money, you need to start now. Don't just waste your time and data reading gossips, fighting, arguing and all. They are people earning money online and I'm glad to be among them. I have tried bidding on freelancing so many times but I no get job so I gave up on that. I had to look for other means to earn to add to what is coming in from my offline business. In the course of searching I found a lot of real programs. I can only do and concentrate on 2 or 3 becauee they are all time consuming. E no easy eh. Most time my butt hurt badly from sitting for hours. They are not get rich quick scheme. If that's what you are looking for, abeg no be here.

I came in contact with this program 2 months ago. At first I didn't believe all that I read on their site but at then I am a person who loves to take risk especially when it comes to business. If we no buy na lie, how we go buy na true. So what I did was to do my research on them and even contacted a popular online marketer who happens to be my mentor today. I threw my questions at him and he gave me a positive review about this program. I also called some other persons to make enquiries and they told me it was 101% legit. Still I wasn't sure of it but I still had to give it a trial. Without wasting time, I registered and followed all the program instruction by doing the task. After seeing that I have the minimum withdrawal money on my dashboard, I requested for my money. I will never forget that day, I was so anxious because of 5k lol. I was really unrest because I wasn't sure if they were real. I kept on checking my phone at every SMS I received lol. Before the end of that day sha, I received my alert o. I was so happy that I added it to my online business. Ever since then, I've been earning from the program even up to this pass Friday.

So it's not scam, though I felt this way at the first time but I've tested it and it indeed pays their viewers.

What is the name of the program?
Business / Why A Business Name Cannot Own Title To Land by elyonchee(f): 8:16am On Mar 25
A business name is a small scale entity that does not end with LTD or Limited, buy properties in its name, enter into contract in its name. A business name does not have directors and shareholders nor shares.
A business name is a small entity that is owned by a sole proprietor or partners. Examples are Mai Mai Stylings
KeneOG Properties
A business name liability is not separate from its owner. The owner bears it all.
A business name is not a company.
A registered business name can obtain loans and grants but it is widely recognised as a small and medium enterprise.
A business name cannot use its name to buy a land. It can't pay taxes in its name.
If the owner's name is Esmelda Oge, it is Esmelda that will use her name to buy land, pay personal income tax, enter into contract as Esmelda Oge and not as Esmelda Kitchen Hub.
Good news, you can upgrade your business name to a limited by shares company.
That is Esmelda Kitchen Hub to Esmelda Kitchen Hub Limited.
Take notice that before you upgrade, you upgrade your status inactive to active through annual returns and also pay for outstanding years.
Contact me for anything CAC, Legal documentation, creative writing ans storytelling,
customer services for your brand, trademark and business agreements.
08117409752 call or whatsapp
Health / Re: My Aunt Grows Beard Like A Man, Is It A Health Condition? by elyonchee(f): 7:54am On Mar 21
Testiebobo:
My dad's younger sister grows beard like a man, she is even hairy than my dad. I wanted to take her pictures but she refused because of netizens. Is it a health condition? Cuz it is very obvious.

Pictures used for illustration
PCOS which is a hormonal issue for women, causes this when there is too much progesterone in the woman's body. It is a health condition. She can go to the hospital and they will place her on hormonal drugs, to reduce it. A good hospital with a good gynaecologist.
Business / Cac Old Documents Versus Cac New Documents Part 1 by elyonchee(f): 7:43am On Mar 21
Hello, everyone
I keep getting request from newly registered business owners that when they went to bank or government agencies or pursuing tax clearance, they asked for Form CAC 2, Form CAC 2A, Form CAC 7, Form 1 for Business name or Application form for Incorporated trustees.
Let me educate you about these documents.
Companies:
Prior to 2021
Companies registered in the 70's up to year 2010
Documents issued then were( Certificate of incorporation, Form Co2(Statement of Share Capital), Form Co7(Particulars of directors), Form 4 then was Particulars of Secretary and then Memorandum and Articles of Association. So if your company was registered in the 70's to 2010, then these are the documents you may have.
Companies that were registered from 2010 -2015
Documents issued were: Certificate of Incorporation, Form CAC 2(Statement of share capital and Return of Allotment), Form CAC 7 (Particulars of directors) , Form CAC 2.1(Particulars of Secretary) and Memorandum and Articles of Association.
From 2016-2020, documents that were issued to companies and when I say companies, I mean limited by shares companies Eg, Uben Auben Auto Ltd or Uben Orben Auto Limited.
Documents issued then were: Certificate of Incorporation, CAC 1.1( Which contains particulars of directors and secretary and statement of share capital), and Memorandum and Articles of Association.
Prior to 2021, Documents were printed as hard copies and despatched in persons from CAC office but in 2021, the former RG of Corporate Affairs Commission, decided to bring in new policies to reduce influx of people in CAC buildings and make customers feel comfortable getting their CAC documents from the comfort of their homes.
So in 2021, CAC decided to fuse CAC 1.1, 2, 7, 2.1, 7A, CAC 4 into what we now call Status report for companies.
The status report contains the Particulars of the company details, a brief description of principal nature if business, directors details, shareholders details and a new addition persons with significant control.
So what CAC now issues for Limited by shares companies are: Certificate of Incorporation, Status Report and Memorandum and Articles of Association.
If you are old company, and you misplaced your documents and after duly paying annual returns, you file for retrieval of the missing documents for instance, you misplaced your CAC 7 or CAC 7A( old companies Particulars of directors or change of directors documents), if you want to retrieve such documents, it is status report, that will be issued and not same CAC 7 or CAC 7A.
In part 2, I will discuss business names and incorporated trustees.
Call or WhatsApp me on 08117409752 or email me at barristerchee2016@gmail.com
Business / CAC Post Incorporation Changes by elyonchee(f): 8:34am On Mar 07
You can't retrieve your lost documents, upgrade your business name to limited by shares company, change of name, change of address, change of directors/secretary/trustees/partners, amend your business objects or constitution, change shareholders, guarantors or increase in share capital if the status of your entity is inactive(red) or your account is due but still shows green.
You must pay for CAC annual returns and all default years must be paid. It is after annual returns have been filed and status changed to active, then you can now file for other post incorporation changes.
Pay your annual returns on time, to avoid piling up of penalties for your business.
For business name, annual returns is paid before 30th of June or 31st of December every year except in the year of registration. It means, that if your business was registered in 1st January 2023, 1st January 2024, makes it a year. Then you have to file it before June 30th of 2024.
Limited by shares company annual returns is filed 18 months after it was registered.
Incorporate trustee such NGO, churches, mosques and associations file it every year after the year of incorporation.
Business / Re: Why Proficiency Certificate Is Needed For CAC Registration? by elyonchee(f): 7:48am On Mar 05
ucyoma:

If I have NCE certificate or my PGD in education, can I register my school with CAC ?
You must attach Teachers Registration Council Certificate.
You can add someone who has the TRCN certificate as a director and shareholder.
Business / How To Retrieve Your Missing CAC Documents In 2024 by elyonchee(f): 7:25am On Mar 05
The new way of retrieving your missing CAC documents.
You can no longer retrieve missing CAC documents without filing annual returns up to date.
If your business entity is inactive(showing red on CAC portal), it means you have not filed your annual returns. Annual returns is mandatory and must be filed every year except in the year of registration. Annual returns is used to update records.
After annual returns has been filed up to date and status changed from red(inactive to green active), then one can proceed to file for certified true copy application to retrieve missing documents.
Documents CAC now issues to retrieve missing documents
Business name> Certified true copy of certified and status report
Limited by shares company> Certified true copy of certified, status report and ctc of memart
Incorporated trustee(NGO, churches and mosques and associations)> Certified True copy of certificate, certified copy of constitution and status report
Note: Each document retrieval is filed as a separate application.
You can whatsapp or call me on 08117409752 or email me at barristerchee2016@gmail.com

Business
Business / Why Proficiency Certificate Is Needed For CAC Registration? by elyonchee(f): 1:11pm On Feb 26
You will have to obtain a Teachers Registration Council Certificate before you register a school, training center, academy or institute.
If you have the word media, engineer or any other professional word in your business or Company name or the nature of business deals with rendering professional services, you will have to provide a Certificate that indicates you undertook a course relating to it.
The Certificates are called proficiency certificate because you undertook them as a study in the university, college, or an online course program that is valid
@cheewrites
For CAC, trademark, scuml or business agreements whatsapp or call 08117409752
Business / Why Do Business Loans Applications Get Rejected? by elyonchee(f): 8:30am On Feb 26
Many businesses always apply for loans for expansion and to bring in more products due to limited funds.
Business loans, can be obtained from commercial banks and private lenders such as friends, money lenders or cooperative societies.
Due diligence must be conducted for verification purposes. It is after due diligence and the lender finds out everything is okay with the loan application, then the loan will be approved.
Here are some reasons why business loans get rejected;
1. The business is not registered
2. The business details in the form, does not match the details in the CAC documents
3. No tax id for the business and its officers
3. No bvn of officers
4. Expired means of identification
5.No corporate account for the business
6. The corporate account is still new
7. The corporate account has not been transacting
8. Scuml certificate for the corporate account for some entities is required
9. No tangible collateral. Some commercial banks requires landed properties when a business entity like limited by shares apply for loan
10. Bad debts
#cheewrites
For any CAC, trademark or Scuml registration call or WhatsApp 08117409752 or send an email to barristerchee2016@gmail.com

1 Like 2 Shares

Business / How To Apply For Change Of Address For Your Bank Account by elyonchee(f): 11:32am On Feb 21
Change of address involves changing your former place of residence to a new place of residence.
For individual accounts, you will have to get a utility bill such as Electricity bill and your National Identity card or slip.
You can use the Electricity bill generated from any electricity or utility mobile app such as buypower or any other platform.
Make sure you fill an individual update form in your respective bank.
Submit the form with the utility bill and National Identity Slip.
Depending on the bank, it can take from 30 minutes to 72hrs.
For a change of your business address, you have to first do a change of address with CAC(make sure annual returns is duly filed if yours is due, before filing for change of address). Then, you take the status report, CAC certificate
and other documents, accompanied with a written letter on your letter head( for business name, the letter must be stamped and for companies, it must have the read seal crested with your company name.), utility bill and National Identity Slip. Make sure you are the signatory to the account.
Submit all documents, fill the Corporate update form, do biometrics(Individual accounts will also do biometrics too).
It can take up to 24-72hrs depending on the bank.
Where the original Certificate and other incorporated documents are missing for your business, you can apply for the certified true copies and attach them. Remember, if your CAC annual returns is due and your CAC status is inactive, you have to file for annual returns and make sure that account is green before filing for certified true copies.
#cheewrites
elyonchee
Check out my other posts
Contact me on any thing related to CAC, trademark filings, creative and business writings.
Business / NIN As The New Means Of ID For Pre And Post Incorporation Filings by elyonchee(f): 5:08pm On Jan 14, 2023
CAC said from Jan 1, 2023, the new means of id for any one that wishes to register a new business or file any change is National Identification Number as long as they are Nigerians or Foreigners living in Nigeria.
So if you must register a new business or make post incorporation changes to your already existing business, such as. Change of directors, secretary, shareholders, trustees, partners, proprietors, ID must be NIN.
My services
Registration of businesses
Post incorporation changes
Retrieval of lost CAC documents
Business letters, agreements and profiles
Check my profile to see other posts.
Whatsapp: 08117409752
Education / Re: University Of Abuja Informations by elyonchee(f): 6:03pm On Jan 01, 2023
sammieone:


Two weeks and 3 weeks max
How can one apply for transcripts without visiting University of Abuja?
How much is transcript request from University of Abuja?
Education / Re: University Of Abuja Informations by elyonchee(f): 6:01pm On Jan 01, 2023
sammieone:


Two weeks and 3 weeks max
How can one apply for transcripts without visiting University of Abuja?
Business To Business / NIN As Means Of ID For Business Registration by elyonchee(f): 11:03am On Dec 12, 2022
The Corporate Affairs Commission says from January 2023, only NIN slip will serve as means of id for directors, secretary, shareholders, Trustee and proprietors during business registration or any post incorporation filings.
It applies to Nigerians and Non-Nigerians resident in Nigeria.
Check my previous posts.
Business To Business / Re: Allotment Of Shares For Old Companies by elyonchee(f): 6:52am On Dec 12, 2022
elyonchee:
Before the new section in CAMA 2020 section 124 for minimum issued share capital came into being, the old CAMA 2004 in section 99, allowed company to issue 25% of their authorised share capital and allowed companies to reserve unissued shares for future shareholders. But the new CAMA in section 124, says that companies minimum issued share capital must be fully allotted and the shares allotted cannot be less than the issued share capital.
Therefore, CAC is giving old existing companies on or before 31st December, 2022 to fully allot all unissued shares or they will be forfeited and not considered part of the share capital again.
Old Companies that were registered before 2021fall under this category. They can issue their unissued shares by reallotment to new shareholders or if they don't have any new shareholders, they can cancel the unissued shares by reduction of share capital. Any company, that files after the deadline will pay penalty that is daily penalty.
Business To Business / Allotment Of Shares For Old Companies by elyonchee(f): 6:52am On Dec 12, 2022
Before the new section in CAMA 2020 section 124 for minimum issued share capital came into being, the old CAMA 2004 in section 99, allowed company to issue 25% of their authorised share capital and allowed companies to reserve unissued shares for future shareholders. But the new CAMA in section 124, says that companies minimum issued share capital must be fully allotted and the shares allotted cannot be less than the issued share capital.
Therefore, CAC is giving old existing companies on or before 31st December, 2022 to fully allot all unissued shares or they will be forfeited and not considered part of the share capital again.
Old Companies that were registered before 2021fall under this category. They can issue their unissued shares by reallotment to new shareholders or if they don't have any new shareholders, they can cancel the unissued shares by reduction of share capital. Any company, that files after the deadline will pay penalty that is daily penalty.
Business / Re: Delivery Business CAC Registration by elyonchee(f): 7:37pm On Oct 30, 2022
elyonchee:
Delivery services involves the delivery of goods to door to door by road, air, railway or ship.
Under CAC Registration, delivery services can be registered as pick and delivery services, courier services,road transportation and haulage services, freight forwarding, logistics services and shipping company.
Courier services is the door to door delivery of goods to customers. It may involve delivery of small parcels like letters, grocery deliveries, document deliveries and other small packages.
Haulage services is the delivery of goods by road. Through trucks or cargo buses.
Freight forwarding is the planning and execution of delivery services by ship.
Shipping company involves the transportation of goods through ships.
Logistics is the managing, planning of the delivery of goods. It involves tracking the goods and making sure the goods arrive safely.
Courier or picup delivery, logistics and haulage services can be registered as a business name or limited by shares company. Freight forwarding has an authorized share capital of 5m and it must be registered as a limited by shares company.
Shipping company has an authorized share capital of 25m and must be registered as a limited by shares company.
So, if you decide to register any of these based on your ideas and money, you know which one to go for.
You can check my previous posts .
08117409752
08139095734
Business / Delivery Business CAC Registration by elyonchee(f): 7:37pm On Oct 30, 2022
Delivery services involves the delivery of goods to door to door by road, air, railway or ship.
Under CAC Registration, delivery services can be registered as pick and delivery services, courier services,road transportation and haulage services, freight forwarding, logistics services and shipping company.
Courier services is the door to door delivery of goods to customers. It may involve delivery of small parcels like letters, grocery deliveries, document deliveries and other small packages.
Haulage services is the delivery of goods by road. Through trucks or cargo buses.
Freight forwarding is the planning and execution of delivery services by ship.
Shipping company involves the transportation of goods through ships.
Logistics is the managing, planning of the delivery of goods. It involves tracking the goods and making sure the goods arrive safely.
Courier or picup delivery, logistics and haulage services can be registered as a business name or limited by shares company. Freight forwarding has an authorized share capital of 5m and it must be registered as a limited by shares company.
Shipping company has an authorized share capital of 25m and must be registered as a limited by shares company.
So, if you decide to register any of these based on your ideas and money, you know which one to go for.
You can check my previous posts .
08117409752
08139095734
Business / Re: Trademarks And Business Support Services by elyonchee(f): 6:20pm On Aug 16, 2022
elyonchee:
Branding your business is not only building a business that will become a force to reckon with. Branding has to do with protecting your intellectual property and that is why trademarking your name or logo is important.
Your trademark name or logo becomes your trade name that distinguishes it from other businesses.
Use a unique trademark and not general trademark to protect your business.
Trademark is part of my business support services. Remember your trademark name can be different from the incorporated name. CAC is not in charge of trademark registration.
Email me at infofrankincenselegalservices@gmail.com
Call or WhatsApp: 08117409752
Business / Trademarks And Business Support Services by elyonchee(f): 6:20pm On Aug 16, 2022
Branding your business is not only building a business that will become a force to reckon with. Branding has to do with protecting your intellectual property and that is why trademarking your name or logo is important.
Your trademark name or logo becomes your trade name that distinguishes it from other businesses.
Use a unique trademark and not general trademark to protect your business.
Trademark is part of my business support services. Remember your trademark name can be different from the incorporated name. CAC is not in charge of trademark registration.
Email me at infofrankincenselegalservices@gmail.com
Call or WhatsApp: 08117409752
Car Talk / How To Buy A Car Within Your Budget? by elyonchee(f): 12:06pm On Jul 25, 2022
No doubt due to the recent increase of dollars and other economic factors, purchasing a car has proven difficult for most Nigerians. But, I am of the school that where there are difficulties, we should make a way to get what we want irrespective of our budget
For cars, there are so many ways to get a car within your budget.
Here are some of the ways
1. Through distress sale: Any one that desperately needs money, will accept any offer you give them as long as the money is worth the car and also worth what they want to use the money for.
2. Buying cars that the owners can't fix or find it difficult to fix. Most of the cars, can be found in the mechanic shop or garage. The cars always have one or more repairs that needs to be done on them after purchase. You can even get these cars, as low as 500k depending on the damages.
3. Through hire purchase: Yes, you can decide to go for hire purchase and be paying on instalment payment. This is also known as Car financing. There must be no delay of payment as at when due. You are usually asked, to pay 10 or 3 percent of the actual price before you take the car.
4. Through trade by barter: You may wonder how is this done?
When someone is owing you money and the car was a collateral, once they have defaulted and can't seem to pay back, you end up with the collateral and do a transfer of ownership.
5. Through auctions.
6. Through gifts.
Check my previous posts on my profile.
Always contact an expert car sales agent before you make a car purchase. Inspect the car before purchase. Let there be proper sale agreement signed by both parties and also transfer of ownership registration must be done at the VIO office.
WhatsApp and call: 08117409752
I am still your business lawyer and consultant.

1 Like

Business / Announcement by elyonchee(f): 6:10am On Jul 07, 2022
Attention: Oyeluk Ventures ( Mr. Oyewunmi Lukman)
To whom it may concern,
You may recall I filed ctc for your lost business name certificate in early July, 2021 and which CAC claimed the certificate was missing at Alausa and stated I should file for status report. I refused and kept on submitting complaint emails. This year, I decided to refile through complaint desk again in April to try my luck. Yesterday, I was called to come pick it up. Please I can't find your number and that is why I am using this means.
Most times, things like this especially when trying to obtain certified true copy of lost documents, always have little issues. Something like this almost happened this year and I was able to make them create a new file for the company and retrieved the ctc of the lost memart for the said client.
Please reach out to me on 08117409752.
This is not an advert.
Check my previous posts.
Business / Re: KYC And Company Documents by elyonchee(f): 5:16pm On May 30, 2022
elyonchee:
KYC means Know your customer. Most banks adhere to KYC rules from CBN to checkmate companies by making sure all CAC documents that were produced during registration/incorporation is intact. They also make sure you produce utility bills for proof of address, tax identification number and IDs of all directors and shareholders or single director/shareholder or sole proprietor or partners or trustees. The KYC documents to be produced by entities depends on the business structure and also nature of business.
Some banks requirements include clarification of the nature of business, board resolution for companies and application to open a bank account.
The purpose is to conduct due diligence in order to verify the information filled in the application form for account opening. Where an account was opened for a company or business name and post Incorporation changes were made at CAC, make sure evidence of those changes, are submitted for update at the bank.
Where the documents are missing for account opening, make sure you file for ctc of the lost documents. Note companies, business names and incorporated trustees registered in 2021 and now are file less. Therefore, it is expected you keep your documents properly if your entity falls under 2021 till now. Make copies of the documents and store original copies in google drive or emails or properly file it in a box or shelf and tag for easy identification. Also scuml certificates to prevent anti-money laundering too for certain businesses.
Business / KYC And Company Documents by elyonchee(f): 5:14pm On May 30, 2022
KYC means Know your customer. Most banks adhere to KYC rules from CBN to checkmate companies by making sure all CAC documents that were produced during registration/incorporation is intact. They also make sure you produce utility bills for proof of address, tax identification number and IDs of all directors and shareholders or single director/shareholder or sole proprietor or partners or trustees. The KYC documents to be produced by entities depends on the business structure and also nature of business.
Some banks requirements include clarification of the nature of business, board resolution for companies and application to open a bank account.
The purpose is to conduct due diligence in order to verify the information filled in the application form for account opening. Where an account was opened for a company or business name and post Incorporation changes were made at CAC, make sure evidence of those changes, are submitted for update at the bank.
Where the documents are missing for account opening, make sure you file for ctc of the lost documents. Note companies, business names and incorporated trustees registered in 2021 and now are file less. Therefore, it is expected you keep your documents properly if your entity falls under 2021 till now. Make copies of the documents and store original copies in google drive or emails or properly file it in a box or shelf and tag for easy identification. Also scuml certificates to prevent anti-money laundering too for certain businesses.
Business / How To Sell Or Buy Existing Business Name Or Limited By Shares Company by elyonchee(f): 3:34pm On May 04, 2022
Do you know you can sell your business name or limited by shares company? If you have an old entity and you know you can't keep up with the business or you want to japa, you can sell your entity.
Also you can buy an existing businesses.
Why do people buy existing businesses?
Maybe a contract stated that the business must have been in existence for like six years or not more than 10yrs before applying or for a grant or loan.
Most of the time, it is limited by shares company that have been existing that normally gets sold. You can sell between 200k-2m or more depending on the value of the company or the share capital.
The best way to sell fast, is selling at a fair price.
What to do after sale?
Agreement of sale
Return of allotment/surrender of shares
Change of name if the need be
Change of address if the need be
Increase of share capital, if the need be
Alteration of memart if the need be
For business name
Sale agreement
Change of proprietor
Change of name, if the need be
Change of objects if the need be.
Also, you may need to make changes in the corporate account if you need to still keep up with the account.

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