JAMB - Commerce (2020 - No. 5)
A common requirement for public and private limited companies in Nigeria is that
a shareholder cannot transfer his shares to someone else without permission from other shareholders
shares cannot be offered or sale on the stock exchange
their annual accounts are made available to the corporate affairs commission
shares can be offered for sale through an issuing house
Explanation
For public and private companies operating in Nigeria, it is required that their accounts are periodically updated with the corporate affairs commission to ascertain their operation status.
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