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HOW TO PROCESS A SPECIAL CONTROL UNIT AGAINST MONEY LAUNDERING (SCUML) COMPLIANCE CERTIFICATE

The Money Laundering (Prohibition) Act and the Terrorism (Prevention) Act (TPA) all of 2011(as amended) are laws put in place to prohibit Money laundering in Nigeria and the Special Control Unit against Money Laundering is the governmental unit which collaborates with the efforts of the Economic and Financial Crimes Commission (EFCC) in implementing Nigeria’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime. To further guarantee that money laundering is reduced to the barest minimum, the above-stated laws assigned some businesses the appellation of a Designated Non-Financial Institutions (DNFIs) and one of the cardinal statutory obligations of the DNFIs after...

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HOW TO PROCESS ALL RELEVANT GOVERNMENT CONTRACT DOCUMENT (PENCOM, ITF, NSITF) AND A COMPREHENSIVE LIST OF ALL GOVERNMENT TENDERS AND BUSINESS OPPORTUNITIES

The economic system of Nigeria being a blend of Government and private participation calls for synergy between both partners in progress to formulate a course of action that will ensure the best-qualified contractors, firms, and companies in line with the Public Procurement Act (PPA) 2007 secure the right or license to implement Government projects that best suits public interest. On the strength of the above premise, below are the eligibility requirements prospective bidders are obligated to present for a successful bid. Firstly, before an entity can be classified as a company capable of processing a PENCOM, ITF, and NSITF Compliance certificate for...

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PROGNOSIS OF STUNTED NIGERIA YOUTHS

  Enough is enough! I’ll raise my kids to be either intellectual sports persons/interpreneurs…. Never a serial job seekers nor political leaders of tomorrow. We were fed that mantra throughout our lives without actually taking the reins of leadership or gaining employment. Baba is old and in all honesty, has zero or nothing to offer Nigeria. Baba has no future at stake …. So either way, he will care less. I never supported his being re-elected (my humble opinion), he never supported his second tenure too in the first place (he promised only one term) so don’t judge me. However what I do understand is...

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PROGNOSIS OF STUNTED NIGERIA YOUTHS

  Enough is enough! I’ll raise my kids to be either intellectual sports persons/interpreneurs…. Never a serial job seekers nor political leaders of tomorrow. We were fed that mantra throughout our lives without actually taking the reins of leadership or gaining employment. Baba is old and in all honesty, has zero or nothing to offer Nigeria. Baba has no future at stake …. So either way, he will care less. I never supported his being re-elected (my humble opinion), he never supported his second tenure too in the first place (he promised only one term) so don’t judge me. However what I do understand is...

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A STEP BY STEP GUIDE ON THE REQUIREMENTS, PROCEDURE AND CLASSES OF TRADEMARK REGISTRATION IN NIGERIA.

The idea behind the concept of Trademark is for the protection of the ideas, inventions, designs and trade secrets of Investors and by so doing, ensure that their rights are not infringed upon by Competitors. Once a Trademark is registered, it enables the owner to take legal actions against anyone who exploits benefits associated with the use of the registered mark without the consent or the authorization of the owner of the mark. Upon completion of the registration process, the Owner of the mark assumes exclusive ownership to the exclusion of all others and his right will be deemed to have...

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HOW TO PROCESS AN EMPLOYER’S PERMIT/ RECRUITER’S LICENSE IN NIGERIA.

The norm in Nigeria with regards to the recruitment of unemployed persons is that majority of recruitment agencies make promises of employment to unsuspecting job seekers which in most cases are non-existent and demand a high consulting fee for such unscrupulous service. It is then crucial for companies or organizations keen on operating recruitment service as a recruitment agency or to function as a recruiter in any capacity in Nigeria to comply with the provisions of the Labour Act, CAP L1, LFN 2004, and obtain a RECRUITERS LICENSE from the Ministry of Labour and Employment. The Federal Ministry of Labour and...

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STEPS, REQUIREMENTS AND COST OF PROCESSING EXPATRIATE QUOTA, STR VISA AND CERPAC (RESIDENCE PERMIT) IN NIGERIA.

A Foreigner who desires to invest in the Nigerian Economy or a Nigerian that wishes to engage the services of a foreign expert must make certain that a Business entity is registered with the Corporate Affairs Commission (CAC) as a Limited liability Company (LTD). Upon completion of the incorporation process with CAC, there are steps the Foreigner or his proposed Nigerian employers must take to make sure that the foreigner secures a residential address in Nigeria. Below are the step by step guide, requirements and Cost of processing an Expatriate quota application, Subject to Regularization (STR) Visa and Combined Expatriate Residence Permit...

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HOW TO PROCESS A PENCOM, ITF, NSITF COMPLIANCE CERTIFICATES, REGISTER WITH BPP AND SUCCESSFULLY SUBMIT A TENDER/EXPRESSION OF INTEREST TO EXECUTE A GOVERNMENT CONTRACT.

The economic system of Nigeria being a blend of Government and private participation calls for a synergy between both partners in progress to formulate a course of action that will ensure the best qualified contractors, firms and companies in line with the Public Procurement Act (PPA) 2007 secure the right or license to implement Government projects that best suits public interest. On the strength of the above premise, it is paramount for us to delve into the eligibility requirements prospective bidders are obligated to present before their bid is said to have been successfully submitted. Firstly, before an entity can be classified...

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How to Write a Cash Flow Statement

How to Write a Cash Flow Statement One of the most important aspects of running your business is managing the amount of money that comes in and goes out. Ideally, more will always be flowing in than flowing out, but it doesn’t always happen that way. You may have to pay your staff and suppliers while waiting to pay yourself.   No matter what your situation, it’s helpful to have a picture of where you stand at any given time, and a cash flow statement is the key. It gives you an overview of how money flows in and out of the...

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STEP BY STEP GUIDE ON HOW TO OBTAIN AN OIL EXPLORATION LICENSE FROM DEPARTMENT OF PETROLEUM RESOURCES (DPR) IN NIGERIA

The Lucrative oil and gas industry of Nigeria has produced such industry heavyweights as African Petroleum Plc, Oando Group, and Capital Oil Plc etc. The Government of Nigeria Being reliant on revenue accruable from the Sector has made it compulsory for all participants in the oil exploration sub-sector of our economy to ensure that obtaining an OIL EXPLORATION LICENSE from DPR is mandatory for all stakeholders. Below is a step by step guide a Consultant must trail in order to secure the license for an Investor in the sector. The Investment company must indicate an interest to participate in the Oil...

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