President Muhammadu Buhari signed into law the Companies and Allied Matters Act (CAMA) on August 7, 2020. The new CAMA is Nigeria’s most significant business legislation in three decades and it introduces new provisions that promote ease of doing business and reduces regulatory hurdles. 1. Provision of single-member/shareholder companies – S.18(2) of the new CAMA […]

Rendering of self-assessment tax returns is born out of the principle of voluntary compliance.  The taxpayer willingly and voluntarily discharges her tax obligations with no interference from the tax authority. This empowers the taxpayer to compute his tax liability, pay the tax due and produce evidence of tax paid at the time of filing his […]

Companies started by Nigerians in Nigeria have tendency not to survive a generation, especially not outliving their founder(s). One glaring example that springs to mind is the Concord conglomerate founded by Moshood Kashimawo Olawale Abiola in the 80s and 90s. On one side of the coin, Abiola’s Concord comprised Concord Press, Concord Airlines, Abiola Farms […]

One of the most frequent questions I get as a mentor to entrepreneurs is, “How do I find the money to start my business?” I always answer that there isn’t any magic, and contrary to popular myth, nobody is waiting in the wings to throw money at you just because you have a new and […]