NBA sets N50,000 as minimum fee for business, company incorporation - Thepodiummedia

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Post published:March 5, 2025
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The Nigerian Bar Association (NBA) has fixed N50,000 as the minimum legal service charge for the incorporation of business and company names.

The remuneration for this, as stipulated by the NBA, ranges from N50,000 to N500,000, depending on the expertise of the legal professional.

For instance, legal practitioners with nine years of post-qualification experience or less in state band 1 are fixed at N50,000, while their colleagues in state band 2 and state band 3 are N80,000 and N100,000, respectively.

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The remuneration for legal practitioners with 13 years of experience is higher than that of legal practitioners in the other categories.

The NBA has mandated remunerations of N100,000, N150,000, and N200,000 for legal practitioners with 13 years of experience and above on state bands 1, 2, and 3, respectively.

The remuneration for this legal service charge for Senior Advocates of Nigeria is N300,000, N400,000, and N500,000 for those on state bands 1, 2, and 3, respectively.

The NBA said it fixed the fees to ensure fair and standardised compensation among legal practitioners and to protect the professionals from underpricing.

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Morak Babajide-Alabi is a graduate of Mass Communication with a Master of Arts Degree in Journalism from Napier University, Edinburgh, United Kingdom. He is an experienced Social Media practitioner with a strong passion for connecting with customers of brands.

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He started his brand management career at Owena Bank as Media Relations Manager before joining Prudent Bank (now Polaris Bank) as the pioneer Head of Corporate Affairs.

The British Council appointed him as Head of Communication and Marketing to co-ordinate branding and reputation management activities at its Lagos, Abuja, Kano and Port Harcourt offices.

In 2007, he was recruited as the Head of Corporate Planning and Strategy for the Nigerian Aviation Handling company. He led on the branding, strategic planning and stakeholder management support function.

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Ademola obtained a M.Sc. Degree in Digital Marketing & Web Analytics from Dublin Institute of Technology in 2016, and the Master of Communication Arts degree of the University of Ibadan in 1997. He had previously obtained a Higher National Diploma (with Upper Credit) in Mass Communication from Ogun State Polytechnic, Abeokuta.

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