OROKO & CO LEGAL

19/05/2025

05/05/2025

https://naijabarrister.com/articles/beyond-title:-the-limits-of-fundamental-rights-enforcement-rules-(frep)-in-land-disputes:-legal-insights-from-the-landmark-court-of-appeal-suit-no.-caandx2flagandx2fcvandx2f1023andx2f2023-3dzqrb8

This article examines the judgment of the Court of Appeal in Appeal No. CA/LAG/CV/1023/2023, which offers a comprehensive analysis of the application of the ...

13/01/2025

https://www.linkedin.com/pulse/understanding-nigerian-labour-law-employers-employees-emmanuel-oroko-y0nuf

The Nigerian workplace is governed by a robust set of labour laws designed to protect both employers and employees. However, misconceptions about these laws often lead to misunderstandings, disputes, and even legal violations.

03/01/2025

Happy New Year

25/12/2024

Merry Christmas 🎄

05/12/2024

The post is aimed to outline the possible legal challenges for business owners in Nigeria and how to navigate them.

Entrepreneurship in Nigeria is like navigating a maze and it is not for the faint hearted, between navigating market challenges, keeping customers happy, and staying afloat financially, it’s easy to overlook critical legal issues in the business. There’s no shortage of opportunities, but there a...

16/04/2024

ANNUAL RETURNS

Annual returns are a formal record of a company's financial activities and operations over the past year, which are to be submitted and filed to the Corporate Affairs Commission (CAC).

Annual returns play a crucial role in the corporate governance and regulatory compliance of companies and businesses in Nigeria. In August, 2023, the Corporate Affairs Commission (CAC) announced to delist over 91,000 companies for failure to file Annual returns to the commission. https://businessday.ng/news/article/cac-plans-to-delist-over-91000-companies-over

It is important to note that Annual Returns to the CAC is totally different from filing of Tax returns with the respective state and federal Internal Revenue Service which also is a requirement. The filing of Tax returns may be calculated based on profit or loss margin of the respective company. To simply put, filing of Annual Returns to the CAC shows that the business is ongoing whether it declares a loss or profit of the previous year and failure to file the annual returns sends a message that the business is not active in Nigeria and could prevent such business from access to loans, grants, international collaborations/partnership etc.

HOW TO IDENTIFY IF A BUSINESS HAS NOT FILED ITS ANNUAL RETURNS.

Where a registered entity has not filed its annual returns up to date, the status of the entity is indicated as 'INACTIVE”. When a registered entity has filed its annual returns up to date, the status of the entity is indicated as “ACTIVE”. You can check the status of your business with the commission via the CAC search website.

WHEN SHOULD A BUSINESS FILE ITS ANNUAL RETURNS?

Newly registered businesses are exempted from filing annual returns within the first 18 months of incorporation. After this period, they are to file their annual return annually to the CAC.

BUSINESS NAME: A registered business must file its annual returns on or before the 30th June of the year, else it attracts a penalty. Section 822(1) CAMA 2020 (Supra)

LTD/PLC: Every registered company (Private/Public Limited by Shares or Unlimited) is required not later than 42days after the Annual General Meeting for the year. Section 421(1) of the Companies and Allied Matters Act, 2020. Failing which, every director and officer of the company shall be liable to a penalty prescribed by the commission. Section 425(1) of CAMA (Supra).

LLP: Shall file within 60 days of closure of its financial year Section 773(1) CAMA 2020

LP: not stated but it is safe to assume that Annual returns must be filed on or before 30th June in each year.

INCORPORATED TRUSTEES: Non-governmental organizations, clubs, and not-for-profit institutions which are registered as Incorporated Trustees are required to file annual returns not earlier than 30th June or later than 31st December each year except in the year in which it is incorporated. Section 848(1) CAMA 2020 (Supra).

HOW TO FILE YOUR ANNUAL RETURNS?

1. Keep a record of account expenditures (profit/loss)
2. Determine the current asset/value of the company
3. Ensure to follow the regulatory guidelines of the Corporate Affairs Commission

WHERE TO FILE ANNUAL RETURNS?

The Corporate Affairs Commission has made the filing of annual returns seamless on their post incorporation website which can be accessed and filed personally via theb post incorporation website. However, navigating the relevant procedures of filing the annual returns accurately might be tricky, so it is advisable that you contact an accredited agent of the commission to assist you in the facilitation of the process.

Stay updated for more legal tips.

14/03/2024

On Monday 11th March, 2024, the Hon. J. Coker of the High Court of Lagos, struck out the one count information on Cultism against Mr. Bolaji on our legal argument for lack of diligent prosecution, after the prosecution has failed to produce any witnesses despite several adjournments.

The Honourable Court heard the argument of our lead counsel Emmanuel Oroko who took interest in his case on behalf of the firm after a visit to the correctional center to offer legal representation to inmates who cannot afford same.

Mr. Bolaji was arrested by the Nigerian Police in front of his home sometime in July, 2021 and he has been in the correctional center for almost 4years prior to his release.

We are glad he has been reunited with his family after a long time.

28/02/2024

ACQUISITION OF PROPERTY IN NIGERIA

It is not in doubt that an average Nigerian wants to acquire assets (liquid/real assets) in their name and it is important for it to be acquired in the right way to avoid regrets. However, Our focus is on the acquisition of property and what to look out for before you purchase a property. Some of the conditions are highlighted below:

1. Identify the property, make enquiries on the land that you intend to purchase, whether for commercial purpose or residential.

2. Engage a Lawyer;

3. Enquire from the Vendor (Seller) about the root of title of the property and upon provided, investigate the root of title;

4. Make an offer of purchase

5. Upon acceptance of the offer of purchase made to the Vendor, execute a contract of sale.

6. Investigate the Title documents if any, such places include (Land registry; Court Registry; Probate Registry; Corporate Affairs Commission (CAC); Physical inspection and if it only has customary title(Family land), visit the head of the family and relevant stake holders of the family;

7. Your Solicitor will prepare a Deed of Assignment upon confirmation that there is no defect in title of the property intended to be acquired;

8. The Final stage of acquisition is to perfect the Title at the land registry.

In conclusion, land acquisition in Nigeria requires a lot of procedure at no small cost. Hence you must engage a solicitor to help conduct due diligence from the identification stage down to the perfection stage to give cautions and warnings where necessary.

Stay updated for more legal tips.

DISCLAIMER: The above should not be construed as a Legal advice, if you have issues, please consult a Lawyer.

26/02/2024

Legal Tip for the day.

Do you know that the law does not recognize the use of the word “Mr. and Mrs” (husband & wife) in any contract entered for the purchase/sale of a property or transaction.

While a Husband and Wife have the right to jointly acquire/own a property. It is advised that a married couple that intends to purchase a property must state their full name independently such as; “Mr. Emmanuel Ajangadioleti and Mrs. Adunni Ajangbadioleti” for a contract to be valid and enforceable.

23/02/2024

General Tips on rights of Tenants and Landlord

1. A Tenancy Agreement can be express, written, implied but for ease and transparency, it is important that a Tenant should insist for a written Tenancy agreement from the Landlord.

2. It is unlawful for a landlord to receive payment for more than year from a sitting/new Tenant and it is also unlawful for a Sitting/New Tenant to pay rent in excess of more than a year, both are deemed illegal with a punishment of a fine of #100,000 or to Three Months imprisonment, subject to Tenancy Law of Lagos State, 2011.

3. It is important to know that a Tenant can approach the Court if an increase in rent is unreasonable and if successful, the court will reverse the increment. furthermore, it is unlawful for a Landlord to eject a Tenant during the pendency of the proceedings.

4. It is unlawful for a Landlord to take laws into his hand by use of security agents to intimidate a tenant to vacate the premises, restrcition of access to utilities such as; (Water, electricity, removal of roof/restriction of entry etc) due to a Tenant refusal to pay rent or vacate the property.

5. A Tenant who fails to renew rent after its expiration or vacates the premises, such Tenant becomes a Statutory Tenant and a Seven days’ notice of Owners intention could suffice for the commencement of an eviction proceedings. PAN ASIAN AFRICAN CO. LTD VS. NATIONAL INSURANCE CORP. (NIG) LTD (19821 9 SC 1 at 13

6. The required notice 6months notice can be served during your Tenancy, it doesn’t necessarily have to be after your Tenancy has expired.

7. A fixed Tenancy only requires a Seven (7) days Notice to the Tenant.

DISCLAIMER: The above should not be construed as a Legal advice, if you have issues, please consult a Lawyer.

Stay updated for more legal tips like this, please share.

01/06/2023

Happy New Month of June!!!