WHAT YOU NEED TO KNOW ABOUT HAVING A COMPANY IN NIGERIA ….And why you need a lawyer to do so.

Every time I try to explain something about law, I try to be as simple as possible because I realised non lawyers don’t appreciate the technicalities. So I will make this very simple and brief and relatable.

Law controls every part of our lives even when we are not paying attention, some crucial steps and decisions must be taken with the full knowledge of the law. The painful things is if the steps that are against the law are taken ignorantly, it is not an excuse as ignorance of the law is not an excuse. This is why having a lawyer is a matter of necessity and not a luxury.

Laws about companies are very wide and broad, in fact so many laws have direct or indirect implications or impact on the affairs of a company but the most important one is the Companies and Allied Matters Act (CAMA). So in this piece, I will just be talking about the kinds of companies that can be formed.

Your company can either be a private company or a public company.

A private company simply means the kind of company whose membership is limited and cannot invite the public to buy its shares. Its usually a company with close friends, family and relatives as members.  A public is the other way round, it has unlimited membership and it can invite the public to get its shares.

Shares are basically the capital of the company divided into small units, in such a way that people that buy those shares have stakes in such company.

Perhaps I should give some differences between a private and a public company so you can understand better.

One major advantage and the most important advantage of having a company is that it is seen as different from people that brought it into existence. It has a personality of its own, so instead of suing you when the company has issues, they sue the company. Simply put you and your company are different people in the eyes of the Law.

Now, a private company has limited membership of 50 persons while that of  public is unlimited.
In a public company, you can easily transfer or sell your shares to another person but it is not so easy to do so in a private company.
The law requires a public company to publish details of its account and basically to be open to the public but this is not required of a private company.
The company secretary in a public company must either be a lawyer, chartered secretary or chartered accountant but this is not required for a private company.
To start a public company your minimum capital must be N500,000 while for a private company it must be N10,000
Like I mentioned earlier, in a public company the public cab buy your shares but this can’t happen in a private company.

These are just few differences, to enable you have an idea. There are other major types which I will be discussing in a subsequent post, each of the types I will discuss can also either be public or private.

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Please note that the information given here is for simple and basic knowledge, there are still more in depth things to know about types of companies and advantages. This is why you need a lawyer as a matter of necessity. If you want to form a company and you need legal advice, do let me know.

©Onashile Peace (tolarnee)

FACTS ABOUT CONTRACEPTION YOU MIGHT NOT KNOW – ( World Contraception Day!)

Many of us might not know but today is World Contraception Day!! Well, I am an advocate for women rights and I am always up for loosening the reins and chains of the woman.

Okay so some people might be of the opinion that I am trying to encourage young ones to have sex and all but I assure you
whether you believe it or not, that I am not. So why exactly am I writing this?

One truth we fail to tell ourselves is that no matter how much we scream about pre-marital sex and all, people will still do it.

Sometimes they are young and naïve and other times its youthful exuberance and again other times just curiosity. The thing however is that the action would always still have its consequences.

Knowing fully well that there is really nothing much you can do to prevent people from having sex, why don’t you teach them how to manage the aftermath and prevent abortion that is so controversial. Some call it murder, some freedom, I just know it’s really not palatable, so in my view educating women about contraceptives seems more reasonable, cost effective and less messy.

So it might seem like the post is just for young ladies and youths but no, I just wanted to educate all women interested in not getting pregnant and family planning about some facts they might or might not know about contraceptives, both good and bad facts. I am not trying to advocate for its use in this post, I just seek to educate.

And by the way who doesn’t know that pregnancy and babies would mostly always disrupt a woman’s life. (Trust me; you don’t want me to go down this lane, so let’s stick to facts)

Basically i will just be stating some straight forward facts that i have researched about and in no particular order, so are we ready? Let’s go!

• Birth control pills contain synthetic forms of hormones; progesterone and estrogen.

• Progesterone thickens the cervical mucus, making it difficult for sperm to penetrate, and it also makes the Fallopian tubes move slower so the egg and sperm don’t get together quite as efficiently. On the other hand Estrogen inhibits ovulation by suppressing the hormones responsible for ovulation. Pills generally contain either only progesterone or a combination of estrogen and progesterone.

• Taking birth control pills with antibiotics can make the pill less effective or totally ineffective. So if you are using pills and you have to take antibiotics, use a condom. Keep using the condom even a week after you are done with antibiotics.

• Water with condoms can wash of the lubricants in the condom making it break or totally come off

• Constant use of morning after pills can alter the menstrual cycle and could cause health and fertility problems later. Morning after pills should be for emergencies.

• Use contraceptives straight immediately after having a baby if you are going to have sex because having a bay does not mean you cannot get pregnant right after.

• If you miss a pill, take it as soon as you remember.

• Birth control pills have some known side effects such as; breast tenderness, headaches, jaundice in a child (for breastfeeding mothers), moodiness and irritability, reduced libido, clitoral shrinkage and varying others.

• Women with a personal history of a blood clots, breast cancer, or heart disease, and smokers should not use pills containing estrogen.

• Don’t trust the male pill for now, it’s still very much in the research stages so still use yours.

I really hope this post has been helpful or educative and enlightening. Do let me know what you think in the comment section.

[Sources]
(http://www.cosmopolitan.com/uk/body/health/a11036/10-things-you-didnt-know-about-contraception-92552/)
(http://butternutrition.com/the-birth-control-pill-scam/)
(https://www.rd.com/health/conditions/how-birth-control-pills-work/)