#corporateaffairscommission

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CAC to Delist Businesses

Red Alert: CAC delisting companies: Be sure to keep your business safe.

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Business Law

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Companies with Foreign Directors and Shareholders

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Business Law

Payment after June 30 attracts a penalty of N5,000 (as of June 2024) 

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What you need to know about Annual Returns

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Video of a brief conversation explaining that there are limitations to the incorporation of businesses with the Corporate Affairs Commission (CAC) as business names, and some businesses must compulsorily be incorporated as limited liability companies LLC/ LTD  to function legally base on CAMA 2020 (Companies & Allied Matters Act 202)

By  Adeola  Kolawole  of Aviel Avenante Law Practice (AALAWSNG)

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Annual Returns for Incorporated Trustees

Incorporated Trustees, a registration type with the Corporate Affairs Commission (CAC), encompass various entities such as non-profit organizations, religious entities, clubs, and other NGOs. The individuals overseeing these organizations are termed trustees, constituting the board of trustees.

It should be particularly noted that they are not called directors.

Mandated by law, Incorporated Trustees must file annual returns between June and December. Failure to meet this obligation incurs a default fee on the organization after December 31.

Annual return filings must include either an audited financial statement (for active operations) or a statement of affairs (for inactive periods), reflecting the organization's current status.

Timely submission of annual returns is crucial to avoid incurring default fees, emphasizing the importance of adherence to filing deadlines.

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A brief video distinguishing between the often conflated categories - Tax Returns Vs. CAC Annual Returns