COMMENCEMENT OF REGISTRATION OF LIMITED LIABILITY PARTNERSHIPS (LLPs) AND LIMITED PARTNERSHIPS (LPs) AND DEPLOYMENT OF THE REGISTRATION SOLUTIONS ON COMPANY REGISTRATION PORTAL (CRP)
The Commission wishes to inform its esteemed customers and the General Public that it has commenced the registration of Limited Liability Partnerships (LLPs) and Limited Partnerships (LPs). To this end, it has deployed the registration interfaces for LLPs and LPs on the Company Registration Portal (CRP). Customers and members of the General Public wishing to register LLPs and LPs may now do so on the CRP.
The LLP is a partnership arrangement with legal personality separate from the partners. The liabilities of the partners of an LLP are limited to the amount agreed to be contributed or what is outstanding in the event of winding up. An LLP shall have at least two (2) “Designated Partners” who will be responsible for compliance with the requirements of the Act by the LLP. The Designated Partners shall be individuals at least one of whom must be resident in Nigeria. The name of an LLP shall end with the word “Limited Liability Partnership” or the abbreviation “LLP”.
The LP is a partnership arrangement with at least one general partner and at least one limited partner. The liabilities of a general partner are unlimited while the liabilities of a limited partner are limited (unless he takes part in the management of the partnership). An LP shall not consist of more than 20 persons. The name of an LP shall end with the word “Limited Partnership” or the abbreviation “LP”.