Limited Partnerships Under CAMA 2020

Limited partnerships are a form of business partnerships applicable in many jurisdictions all over the world. It is one of the innovations in the Companies and Allied Matters Act (CAMA) 2020. In this publication, we examine this new provision and what it means for the Nigerian business space. Download

2020 Annual CMSA Business Luncheon

15th September, 2020 played host to the Annual Business Luncheon of the Capital Markets Solicitors Association (CMSA). The theme for this year’s event; Financial Opportunities in the Capital Market – An Aid to improving the Nigerian Healthcare Sector. The event held virtually for the first time and had hundreds of attendees connected from various parts […]

The Role of Transfer Pricing In Tax Planning and Administration in Nigeria

TAX PLANNING AND TAX ADMINISTRATION Tax planning refers to an arrangement of a taxpayers’ business or financial dealings, in such a way that complete tax benefit can be availed by legitimate means, i.e. making use of all beneficial provisions and relaxations provided in the tax law, so that the incidence of the tax is minimum[i]. […]

An Exposition of the Advent of Limited Liability Partnerships Under CAMA 2020

This piece is directed an innovation made in the Companies and Allied Matters Act (CAMA 2020); the introduction of Limited Liability Partnerships (LLPs). These new provisions develop Nigeria’s corporate legal framework to meet international standards as it is obtainable in other jurisdictions, such as the United Kingdom and the United States of America. CAMA 2020 […]

Incorporated Trustees Under CAMA 1990 & 2020

30 years after the enactment of Companies and Allied Matters Act 1990, President Muhammadu Buhari on 7th August 2020 assented to law, the Companies and Allied Matters Act 2020. The Act principally is to regulate the formation, management and dissolution of Businesses and Associations. This piece is directed at illuminating the changes made to the […]

The Nigerian Police Trust Fund Levy: Legal Issues on compliance and enforcement

The Nigeria Police Trust Fund (Establishment) Act was signed into law on June 24, 2019. Its key objective is the establishment of a fund to cater for the training and provision of security equipment and related facilities for the Nigerian Police Force. Section 4(1) of the Act created seven sources of funds for this purpose, […]

Nigerian Institute of Chartered Arbitrators 2019 Awards Ceremony

Hermon Legal Practitioners‘ Managing Partner, Mr. Benjamin Obidegwu, will, today being the 14th of November, 2019 and on the 15th of November, 2019, moderate the session on the AfCTA and its implication on Arbitration (ADR) Development in Africa; Challenges, Opportunities and Expectations at the 40th Anniversary Conference of the Nigerian Institute of Chartered Arbitrators at […]

FIRS creates special office for taxation of foreigners in Nigeria

The Federal Inland Revenue Service (FIRS) has, through a Public Notice (“the Notice“), announced the creation of a new tax office to exclusively attend to the tax affairs of non-resident persons in Nigeria. The Non-Resident Persons’ Tax Office (NRPTO) is located within the International Tax Department of FIRS in Ikoyi, Lagos. However, the office would […]