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Rhemajuris LEGAL, 3 BABBE Street, D LINE, Port Harcourt (2025)

24/01/2024

If I have handled your CAC registrations from December 2023 and into this year, you will remember that I wasn't in a hurry to collect payment from you. You also remember that I asked you lots of questions and a lot of back and forth before accepting the job.

Right here is the reason.

You see, CAC have a new Registra and a lot of things the commission overlooked before, they're now paying attention to them.

The commission now requests extra certification for almost all kinds of registrations.

Before now, you could register a school, training without submitting any extra certificate, but no more.

Before now, you could register a real-estate company without submitting any extra certificate, but no more.

Before now, you could register a hospital or pharmacy without submitting any extra certificate,, but no more.

Before now, you could register a consultancy without submitting any extra certificate, but no more.

All these were there before now. But the commission overlooked them, but this new RG and government 'no dey gree for anybody this year'

So, this is the reason for a lot of discussion and dialogue with my clients even before collecting payment to commence the registration otherwise, I am going to hang during the process.

28/11/2023

Dear business owner, this could be you.

Reach out to us to assist you with updating your annual returns with the CAC.

Your business will benefit from the smart move.

21/11/2023

Unlocking Success Through contracts/ Agreements: A simple Guide for Employers and Employees in Nigeria.

Dear Community members,

In the dynamic world of business, understanding is key! 🚀

Are you an employer navigating the employment landscape in Nigeria? Or perhaps an employee eager to safeguard your rights in your work place? Today, let's talk about the role of agreements in the work place.

✒️ The Power of a Contract of employment: An agreement between an employer and an employee is the foundation of a mutually beneficial relationship. A well-crafted contract/agreement outlines the rights, responsibilities, liabilities,benefits, expectations, etc of either party, thus providing a clear roadmap for parties involved.

🛡️ Protection for Employers:
For employers, having a detailed contract/ agreement ensures protection against potential disputes. Clearly defining terms of employment, confidentiality clauses, and non-compete agreements which protects your business and even your intellectual property.

🤝 Empowering Employees:
Employees, on the other hand, benefit from contracts/ agreements that explicitly state their duties, compensation, liabilities and over all working conditions. It creates an environment where everyone understands their role and feels secure in their professional journey.

🌐 Navigating Nigerian Labor Laws:
Given the peculiarities of the Nigerian labor laws, having a well drafted contract/ agreement is a no-do-without. There is need for busineses to stay compliant, safeguard your interests, and foster a workplace built on trust and transparency.

📞 Reach out to us Legal.

Your success is our priority. Together, let's build a workplace where everyone thrives! 💼✨

20/11/2023

Implications of Failure to File Annual Return with the CAC.

Failure to file CAC annual returns comes with penalty.

Apart from the financial penalty in the form of default fees, which comes with failure to file annual returns for your business, Corporate Affairs Commission may decide to strike out/ delete OR delist the name of the business from their register.

Once the name of a business has been deleted from the CAC's register, it means that the business no longer exist. This makes the business / company/ NGO's name to be open for any interested party to register.
If CAC delists the name of your business, company or NGO, you have the right to apply to the court to order for the restoration of the name to the register. If your application is granted by the court, you will still need to file the annual returns and pay all the applicable filing fees and penalties.
Make a wise choice today.

20/11/2023

Misconceptions About Annual Return.

When it comes to filing of annual returns with Corporate Affairs Commission, there are lots of misconceptions, some of which are:
1. Some people believe that annual returns are only required for large corporations. This is not true as all registered companies, including small and medium-sized enterprises, NGOs, Churches, etc (SMEs), are required to file annual returns with the Corporate Affairs Commission.

2. Annual returns and tax returns are the same: There is often confusion between annual returns and tax returns. CAC annual returns are filed with the Corporate Affairs Commission to update the company’s information, while tax returns are filed with the relevant tax authorities to report the company’s income and tax liability.

3. It’s a one-time filing: Some entrepreneurs mistakenly believe that they only need to file annual returns once. In reality, annual returns must be filed every year.

4. No consequences for late filing: Some business owners underestimate the significance of timely filing or may think there are no consequences for filing annual returns late. However, there are penalties for late filing, which may accrue to a large amount until the returns are submitted.
5. It’s a complex process: People often assume that filing annual returns is a cumbersome and time-consuming process. While it does involve some paperwork, the process can be straightforward, especially with the assistance of professionals who are familiar with the requirements.

6. Foreign companies are exempted from annual returns: Foreign companies operating in Nigeria are not exempted from filing annual returns. If a foreign company is registered in Nigeria, it must comply with the requirement to file annual returns as well.

Which of the misconceptions did you believe was true. Well, now you know better.

20/11/2023

Importance of Filing Annual Return with the CAC.

Why must you file annual returns for your business? You need to do so for the following reasons:

1. It is statutorily required: It is the provision of the laws as contained in the Companies and Allied Matters Act (CAMA) 2020 that every entity registered with Corporate Affairs Commission as a business name, private or public company (either limited by shares, guarantee or unlimited), incorporated trustees, or partnership should file their annual returns with the CAC. Therefore, filing of the the annual returns means that your business or organization complies with the law. It is important to note that this is different from tax returns to Federal Inland Revenue Service.
2. It grants business access to post incorporation services: A company may not have access to post incorporation services from Corporate Affairs Commission. Such services include request for Certified True Copy (CTC) of incorporation documents, increase in share capital, change to directors, partners, and trustees, change of business objects or registered address etc. If you have not been filing the annual returns and you require any of the post incorporation services, you will be asked to complete the filing, pay the filing fees and all the accrued penalties first. This can actually cause you some delays.

3. It confirms the going concern status of the business: The only way to convince Corporate Affairs Commission that your business is operating is by ensuring that you file the annual returns when due. If you fail to file the return when due, the status of the business or organization will show “inactive”.

4. It gives a company ability to bid for contracts: Proof of CAC annual returns is one of the requirements for bidding for contracts in some private and public establishments. This means that without this proof, your company will not be considered for such bids.
It enhances public confidence in your organization: Individuals and corporate entities usually conduct due diligence on organizations they want to invest in or do transactions with. Without annual returns, Corporate Affairs Commission will not be able to provide meaningful information about your company.

Am sure you want to retain your business' legal status.

20/11/2023

How to File CAC Annual Returns.

How do I file CAC annual returns? Filing of annual returns with the Corporate and Affairs Commission is done online now. This means that you don’t need to carry any physical document to CAC’s office again. However, to file annual return, you might need to engage an accredited agent to assist you with the process.

When you approach any CAC accredited agent to file the CAC annual returns of your business name , company or NGO for you, you will need to provide the registration number, name, general nature, and registered address of the business, company or NGO. You will also supply information regarding the turnover and net assets of the business.
Particulars of Proprietor/Partners, Directors and Trustees.

When you have made available the above information, the CAC accredited agent will then take it up from there. After the agent has filed the annual return, CAC will either query or approve it. If queried, reason for the query will be given. If approved, the agent will then download the acknowledgement letter and then apply to the Corporate Affairs Commission for the business name to be make active.

I hope this helps you understand the process. Reach out to me if you have not filed your annual return.

20/11/2023

Save your businesses' legal backing NOW.
Pay you Annual returns before it's too late.

What is Annual Return?

Just as the name implies, an annual return is a yearly statement made by entities registered with Corporate Affairs Commission about their composition, activities and financial positions to the Commission in accordance with the provisions of Company and Allied Matters Act (CAMA) 2020.

Some business owners have misconception about the filing of returns of their business. They erroneously believe that they don’t need to make any filing if their business has not commenced operations.

How Much Does It Cost to File Annual Returns?

The cost of filing returns with CAC depends on some factors such as the legal structure of your business, the size of your business if you registered as a limited liability company, whether your company is private or public liability company, and your timeliness of filing the returns. For instance, you don’t file your annual returns within a stipulated period, you will need to pay penalty for late filing. Penalty is actually avoidable. The only way to avoid paying penalty is to ensure that you file your annual returns yearly and on time.

17/11/2023

Rhemajuris is a full functional law firm with diverse interests and services.
Company registrations are side perks. Let’s get yours registered today👍

15/11/2023

Very many people are only interested in registering their businesses with the CAC and other relevant authorities. But that is not the only thing you need to do to give your business a legal status.(gist for another day)

Whenever you register a new business, bear in mind that after 12months, you will start paying Annual returns to CAC every year. Now though annual returns are payable every year, the amounts payable are very minimal.

However, failure to pay attracts penalties. The penalties are :
1. Default fees: This will accumulate over time and becomes a large sum to pay.

2. Inactive Status: Your business will show inactive on CAC portal and the implications are many , one of which is that other businesses and individuals who sees your inactive status will be wary of doing business with you.

3. Delisting: The CAC will delist and delete your business from their portal. The implication of this is that your business name ceases to be yours and thus free for another person to register it.

This applies to Business names, Companies, Churches, Foundations and every organization registered with the CAC.

Is your business duly registered?
Have you ever paid annual returns?
Are you up to date in paying?
Do you even know how to check whether your business status is ACTIVE or INACTIVE?

Reach out to us inbox or via the link in the first comment , let's help you out.

14/11/2023

Dear Employee, you need a contract of employment from your employer. Insist on getting one.

A contract of employment will inform you firsthand of the things to expect in the organization you are joining. It is the first step to your onboarding process.

Once you have the contract of employment, dont be in a hurry to sign it(i know you need the job badly). Take it to your lawyer for review and get a go ahead from your lawyer before signing it.

Dear Employer/ Business owner, please give a contract of employment to your new employee and allow him time to have his lawyer review it.

08/11/2023

We won’t scam you when you pay us to register your business, company or NGO for you.

We are 100% “Reliable”

Rhemajuris LEGAL

24/01/2024

28/11/2023

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