Blog

21 Jul

AFRICAN CONTINENTAL FREE TRADE AREA (“AfCFTA”): THE NIGERIAN PERSPECTIVE

Globalization has led to the deepening of social, economic and cultural interactions among countries of the world through cross country flow of information, ideas, technologies, goods, services, capital, finance and people. With the advent of the African Continental Free Trade Area (“AfCFTA”) which aims to bring together 1.2 billion persons with combined Gross Domestic Product estimated at $2 trillion in a single market, it is expected that there would be an erasure of all restrictions to movement of goods and services amongst sovereign [...]

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14 Jul

RAPE: WHAT NIGERIAN LAW SAYS

Rape is generally defined as unlawful sexual intercourse carried out forcibly or under threat of injury against a person's will or with a person who is beneath a certain age or incapable of valid consent because of mental illness, mental deficiency, intoxication, unconsciousness, or deception. Under Nigerian Law, the offence of Rape is limited to the actions of a man against a woman and requires at least a slight penetration of the penis into the vagina to constitute rape. This definition has however been broadened by judicial pronouncements [...]

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An Investors Guide to Doing Business In Nigeria
04 Feb

AN INVESTORS GUIDE TO DOING BUSINESS IN NIGERIA

Dear Subscriber, Nigeria continues to face the challenge of diversifying its economy from total reliance on crude oil as its major revenue earner. In other to attract Foreign Direct Investment, making the business environment friendlier became a priority and this led to the establishment of the Presidential Enabling Business Environment Council (PEBEC) which had the mandate of removing bureaucratic impediments to doing business in the country. The focus of PEBEC was Entry and Exit of goods; Entry and Exit of people and [...]

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Enterprise Zone
21 Jan

THE ENTERPRISE ZONE

Entrepreneurs tend to be creative visionaries but also tend to get distracted by the excitement of their idea. Building a lasting, profitable business is challenging, it goes beyond the idea and there is no set roadmap for success. Common challenges for businesses bother around Finance, Personnel and Legal. Consequently there is the need for serious business owners to strengthen these centers in other to have a sustainable business. Based on our constant engagement with startups and SME’s, we are aware of the deficiencies which typically lead to [...]

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14 Jan

BUSINESS OUTLOOK 2019: 6 SECTORS TO WATCH

Dear Subscriber, The Year 2018 was quite eventful on the global scene, with the #MeToo Movement, historic meeting between Donald Trump and North Korea, Trade War with China, Brexit negotiations and Khashoggi murder dominating global discourse. On the domestic scene, Nigeria’s rebound from the recession slowed down in the last quarter of 2018 based on dwindling revenues as well as late implementation of the budget. The imminent election dominated the news most of last year and it is expected that whilst the politicians continue to bicker in Q1 2019, [...]

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17 Dec

THE IMPACT OF SME’S

Dear Subscriber, From the roadside salon that engages five stylists to the trendy tech startup that has fifteen staff on its payroll or the manufacturer that has hundreds of causal workers, the SME sector remains the highest employer of labour and hence the lifeblood of the economy. Statistics also show that at least 50% of these business ventures fail within the first five years.  A major hindrance to the growth of this critical sector is defective business processes and lack of [...]

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25 Jun

THE CEO’s GUIDE TO CHOOSING A BOARD OF DIRECTORS

Dear Subscriber, Limited Liability Companies are basically owned by Shareholders who then appoint a Board of Directors to oversee the affairs of the Company. The Board of Directors' key purpose is to ensure the Company's prosperity and in achieving this they must deal with challenges and issues relating to corporate governance, corporate social responsibility and corporate ethics. As a CEO, building the Board of Directors for your Company is very important as they will help shape the future of your company and [...]

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21 May

4 BUSINESS REQUIREMENTS IN NIGERIA

Dear Subscriber, You have identified a niche market, done your market research, created a business plan, incorporated a limited liability company or registered a business name, and you are all set to transform your idea to reality. But before you open for business, it is important that you consider all of the legal requirements for running a successful venture. This week we discuss some of the core requirements a new business owner should put in perspective- Taxes Companies or Business Names are required to [...]

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22 Apr

CONTRACTING WITH INFLUENCERS

Dear Subscriber, Traditional media channels (TV, Radio, Print etc) are facing a losing battle with emerging digital information channels (Facebook, YouTube, Instagram etc) and it is only a question of time before traditional media as we know it becomes extinct.   With the advent of new media came a new crop of Influencers who have acquired massive followership on social media platforms. The size of their followers has helped them gain the attention of corporate brands who then engage them to [...]

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02 Apr

MAKE IT HAPPEN

Dear Subscriber, Easter symbolizes  hope, renewal, and a new life. At IOC Law we pray that in this season you will experience the hope of new beginnings and success in your endeavors. As we celebrate the death and resurrection of Jesus Christ we  are inspired by this video on how an Eagle survives old age. The morale is that we sometimes need to get rid of old memories, habits and other limitations in other to take advantage of the present. Enjoy and [...]

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