The Commercial Lawyer NG

The Commercial Lawyer NG ⚖️Helped over 200 Business owners maximize profit
⚖️Finance companies consultancy

08/05/2026

We had a very productive week at ICNC Legal Practitioners and it is all thanks to you, our clients. You keep us very busy and we are very grateful for your continuous patronage.

This week, we registered:
a. 2 NGO’s with the CAC
b. 2 NGO’s with the EFCC’s SCUML department by getting a SCUML certificate for each.
c. 1 travel agency registration with the CAC.

Travel agencies are registered with a minimum of 30m share capital with the CAC. Whereas SCUML registrations are mandatory for certain kinds of businesses and organizations.

Thank you again for trusting us.

08/05/2026

We already know that trademark registration is very important to secure and legally protect your logo, and by extension; your business.

However, here are a few things you may not know about trademark registration in Nigeria:
1. Trademark is registered in Classes
2. ⁠The classes represents different sectors of businesses and ventures including churches or organizations.
3. ⁠There are over 40 classes
4. ⁠You must register your logo under one class per time
5. ⁠You are allowed to register same logo under different classes.
6. ⁠Your logo is only protected under the specific classes you registered it under.
7. ⁠Where your business has different aspects , it is wise to register your logo under the relevant class, per aspect eg tech is class 42, food is class 29.

Hope you learnt something new.

07/05/2026

Fintech in Nigeria is not cheap

It is capital intensive to go into fintech in Nigeria and this is regardless of the field you want to play in; whether it as an IMTO, Payment Gateway, MMO or any other sector.

Some of the cost to be considered are: cost of staffing, office rental, licensing, cost of developing your app and website, software, marketing and so on.

Most times when we have consultation sessions with clients, we give a breakdown of what it takes to start a fintech company. Some clients upon realizing the weight of capital required, always ask can I use a money lenders licence to run my fintech company since I am going strictly into loans?

The answer is no. A money lenders licence cannot be used to run a fintech company albeit a loan company, because the two of them are not the same. They are regulated by different authorities, different laws, the requirement to get their license and permits are also different.

Thus you cannot use a money lenders licence, to run a fintech company.

05/05/2026

Hi my name is Ijeoma. I am a Christian who is intentional about knowing and pleasing God. Here are platforms I belong to where I have seen Jesus glorified. I encourage you to join -the warroom - 3pm with PM -hallelujah challenge -faithchatplatform He’s a rewarder of them that diligently seek him. You too shall be rewarded. Amennn!

01/05/2026

Welcome welcome to May, our month of peace, unplanned testimonies and answered prayers!

30/04/2026

Imagine if when Dangote was trying to set up his business, he gave out 50% of his shares to someone, in the name of being an investor. This is one mistake I see lots of start ups and founders make.

Here are key points to remember when negotiating with an investor:
1. Don’t be too desperate/eager to get that funding or see your vision come alive, that you sell your self short.
2. ⁠Understand that there are three major kinds of financing: assets financing, debts financing and equity financing. Even when these three are merged, it is done in such a way that, it is favorable to all parties particularly you the founder.
3. ⁠Go into the negotiation with a good commercial lawyer, financial adviser or consultant who can advise you on the prospects of the offer.

We hope you found this helpful. -foundersagreement

29/04/2026

Don’t open that joint account. As things evolve, we discover new and better ways to achieve our goals.

Formerly joint accounts were the best way to promote unity and accountability, in finance management among couples. However joints accounts have left spouses stranded, when there is an emergency or in the unfortunate event that a spouse passes, because both parties need to sign for the funds in the account to be accessible.

Therefore instead of joint accounts, we encourage couples to register a company in which both of them will be directors and shareholders. This company is an SPV ie a Special Purpose Vehicle. The company can then own a corporate account and either of the couple may sign to access the funds. This way the funds remain joint but access to the funds is not.

17/04/2026

There is a trick to choosing the name of your business.

It is not every name that can be registered with the CAC ie the Corporate Affairs Commission in Nigeria. Some words are outrightly prohibited while some are restricted.

When a word is restricted, it means the consent of the Registrar General (RG) of the CAC must be obtained before it can be registered. For instance the word “group” or “holding” is a restricted word.

To use the word “group” of companies, you must have registered atleast two or three separate companies, after which you then merge them to form one group of companies. One company cannot be registered as a group of companies.

A name search with the CAC, will reveal whether your proposed company name can be legally registered in Nigeria.

16/04/2026

Have you ever been in this situation?

You see a property you like, you do your searches and due diligence everything checks out, you negotiate the purchase price and that checks out too, however here comes the elephant in the room; who will pay for the deed of assignment?

This question sometimes frustrates the transaction especially when the purchase price of the property is high. This is because lawyers will always charge for drafting the deed of assignment by percentage. This percentage can therefore run into millions of naira.

Who pays for the draft of the deed of assignment between the buyer and the seller of the property? The answer is simple: the buyer is to pay for the deed of assignment, because it is the responsibility of the buyer’s lawyer, to draft the deed of assignment.

The reason is because the buyer’s lawyer will be in a better position to protect the buyer by introducing terms and clauses in the deed of assignment, that protects his interest. It is important that certain terms be inserted in the deed because the buyer having paid for the deed, is now in possession of the property and is therefore bearing the risk.

The seller’s lawyer who drafts the deed of assignment, will likely introduce clauses that protects the seller, and this will not be in favor of the buyer, who is bearing all the risk in the transaction.

Have you been in this situation before? How did you resolve it?

10/04/2026

Our amazing client subscribed to our course on money lending ie the a to z of money lending.

She had a few follow up questions which showed she understood all that we explained in the over 15 videos sent to her via telegram.

Her response was that she was satisfied with the videos and we were so glad she was.

Thank you again for trusting us ma. To get our course on money lending, kindly send us a dm or WhatsApp: 08082829602

Address

Lagos

Website

Alerts

Be the first to know and let us send you an email when The Commercial Lawyer NG posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Share

Category