Capital Reduction to nill off Accumulated deficits

[Mustapha Hammed]

I have a client that intends to undertake a capital reconstruction by reducing its Share Capital. This is to enable the company wipe off its accumulated deficits and be able to pay dividends to shareholders in subsequent.

I need insight on whether this is allowed especially from a reporting perspective

 

[kirby]

You need to look at the Nigerian corporation law that covers this