DAILY LAW TIPS
by Onyekachi Umah,Esq.
“Foreigners Can Fully Own Companies and Businesses In Nigeria Without A Nigerian.”
Foreigners are allowed by law to own companies and businesses in any part of Nigeria. They can fully own such companies without a Nigerian as a director or shareholder. And they can own any asset and property across Nigeria.
My authorities are sections 18 and 54, of Companies and Allied Matters Act.
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Can government demolish my house and take my land without compensation? Yes, government can demolish your house and take your land! Albeit, government will compensate you for all your expenditure on the land in certain circumstances. The circumstances and steps therein will be theme of this piece. I advise you to get a copy of the Land Use Act of 1978 from any bookshop to understand and appreciate land contracts and transactions in Nigeria, as a whole. A copy of the Constitution of the Federal Republic of Nigeria 1999 (as amended) will also help.