Speedy business dating
All employers and trade unions in both the public and private sectors of the economy are permitted to make adjustments to total remuneration packages through the process of collective bargaining.The remuneration agreed requires the approval of the Federal Minister of Employment, Labour and Productivity.LABOUR, HEALTH, TRADE & ENVIRONMENTAL STANDARDS: Factories Act Factories Act This Nigerian law makes general and special provisions for the health, safety and welfare of persons employed in places statutorily defined as “factories” and for which a certificate of registration is required by law.It makes general provisions as to the standards of cleanliness, crowding, ventilation, lighting, drainage of floors, and sanitary conveniences: e.g.Shares with “weighted” voting right are prohibited. whether ordinary or preferential) issued by a company must carry one vote in respect of each share.Consequently, preference shareholders are entitled to receive notices and attend all general meetings of the company and may speak and vote on any resolution before the meeting.There are in addition to these, standards set for the training and supervision of inexperienced workers, safe access to any work place, prevention of fire and safety arrangements in case of fire and first aid boxes.
All categories of company shares to carry one vote.Disclosures To Be Published In Company Correspondence and Business Premises Every company is obliged to disclose on its letterhead papers used in correspondence, the following particulars:(i) Name of the company/enterprise;(ii) Address;(iii) Registration/Incorporation Number;(iv) Names of Directors and Alternate Directors (if any) In addition, the law requires companies/enterprises to ensure that the Certificate of Registration be displayed in conspicuous positions at their principal and branch offices.INCORPORATING A BUSINESS ENTERPRISE: Operations of Foreign Companies in Nigeria Legal Framework for Business Activities Operations of Foreign Companies in Nigeria A non-Nigerian may invest and participate in the operation of any enterprise in Nigeria.Minimum Share Capital and Disclosures in Memorandum of Association The minimum authorised share capital is N10,000 in the case of private companies or N500,000 in the case of public companies.
The Memorandum of Association must state inter-alia that the subscribers “shall take amongst them a total number of shares of a value not less than 25 per cent of the authorised capital and that each subscriber shall write opposite his name the number of shares he takes.” The law permits and acknowledges the roles of attorneys and other relevant professionals in facilitating business transactions provided, of course, that this “agency arrangement is disclosed".all factories must have potable water and washing facilities.