Where a person trades or carries on business under any name or title of which the last word or words are “Unlimited”, “Limited”, “Public Limited Company” or “Limited by Guarantee” or their abbreviations, he is, unless duly incorporated as an unlimited company, a private company limited by shares, a public company limited by shares, or a company limited by guarantee, respectively, liable to a penalty prescribed in the Regulation for every day during which the name or title is used.
Companies and Allied Matters Act 2020 · Part B · Chapter 29
Section 739 Penalty for improper use of certain words
Cite as: Companies and Allied Matters Act 2020, section 739
What this section means
From the guide: How CAMA 2020 applies: existing companies, court powers, offences and relief for officers
Sections 722 to 745 cover the reach of the Act, its priority over a company’s constitution, general rules on offences and the Commission’s powers.
Read the whole subject
Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.