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Originally Posted by ndbc
am already putting things in order to start one wittin my area but one big challange is openning an acct with the bank which require a formal registration of the club. pls i want to know if the process is what i can contend with.
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Hi, I saw ur post.The same basics apply in incorporating an Investment Club.
First, u have to go to any office of the Corporate Affairs Commission(CAC) near you to obtain an Application form.
This wiil enable a search to b conducted by the CAC to ensure the uniqueness of the name u have picked,so that u can chose another name if some other person(s) have chosen that name.
Then u will be required to prepare and submit a Memorandum of Association (constitution) that will guide the club's operation as well as names of persons to act as Board of Trustees.
Once u are registered, u can then open a current account with any of the banks, specifying the signataries to the account.
You can start buying at this point.
I wish u goodluck.