In Nigeria, a non-profit organisation (NGO) can be registered as either an Incorporated Trustee (Part F) or a Company Limited by Guarantee (Part B). However, each entity has distinct features and structures. In particular, unlike an Incorporated Trustee, a Company Ltd/Gte can generate income which must be solely applied to its objects i.e., the promotion of commerce, art, science, religion, sports, culture, education, research, charity or other similar objects.
The liability of the members of a Company Ltd/Gte is limited to the amount, minimum of N100,000, which each member undertakes to contribute to the Company’s assets in the event of its being wound up. Unlike an Incorporated Trustee, whose trustees must be individuals, a member can be either an individual or a company.
The Attorney General’s consent is required to register a Company Ltd/Gte, and this can be obtained through the Corporate Affairs Commission’s online portal.
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