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Tuesday, 10 November 2026
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A common requirement for public and private limited companies in Nigeria is that

A common requirement for public and private limited companies in Nigeria is that
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A A shareholder cannot transfer his shares to someone else without permission from other shareholders
  • B Shares cannot be offered or sale on the stock exchange
  • C Their annual accounts are made available to the corporate affairs commission
  • D Shares can be offered for sale through an issuing house
Correct Answer: Option C
Explanation:
A common requirement for public and private limited companies in Nigeria is that their annual accounts are made available to the Corporate Affairs Commission. Both types of companies are required by law to file their annual accounts and returns with the Corporate Affairs Commission (CAC) to ensure transparency and accountability.

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