ICAN Business Law 2025
Past Questions

Under the Nigerian legal system, which source of law takes precedence over all other sources in cases of conflict, as expressly provided by the Constitution of the Federal Republic of Nigeria 1999 (as…

Pursuant to Section 251(1)(e) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and Section 868 of the Companies and Allied Matters Act (CAMA) 2020, which court possesses exclus…

Prior to the incorporation of Zenith Logistics Ltd, Mr. Tunde entered into a written contract in his own name 'for and on behalf of Zenith Logistics Ltd' to lease a commercial warehouse from Lekki Pro…

Tunde was appointed as a del credere agent by Apex Foods Ltd to sell 1,000 cartons of milk at ₦10,000 per carton. Under the agreement, Tunde is entitled to a basic commission of 5% and a del credere c…

In the Nigerian law of torts, for a defendant to successfully raise the complete defense of volenti non fit injuria (voluntary assumption of risk), the defendant must prove that the plaintiff:

Which document replaced the mandatory Statutory Declaration of Compliance previously sworn to by a legal practitioner prior to company incorporation under CAMA 2020?

Promoters of Vanguard Tech Ltd intend to incorporate a private company under CAMA 2020 with a proposed share capital structure of ₦500,000 divided into 500,000 ordinary shares of ₦1.00 each. At incorp…

Kano Logistics Plc is being incorporated as a public limited company with a proposed initial issued share capital of 3,000,000 ordinary shares of 50 Kobo each. Based on Section 27(2)(a) of CAMA 2020 r…

Under Section 749(1) of the Companies and Allied Matters Act (CAMA) 2020, every Limited Liability Partnership (LLP) incorporated in Nigeria must maintain a minimum number of designated partners. What …

Under Section 33(1) of the Employee's Compensation Act 2010, what rate of contribution is an employer in Nigeria legally mandated to make to the Employee's Compensation Fund managed by the NSITF?

Under the Nigerian legal system, customary law is an essential source of law but must satisfy certain statutory validity tests before it can be enforced by the courts. Which test specifically requires…

Messrs. Ade, Babatunde, and Chidi intend to incorporate Apex Logistics Limited, a private limited liability company, under the Companies and Allied Matters Act (CAMA) 2020. In advising the promoters o…

Alhaji Bello and Mr. Chukwuma are business partners operating a logistics company, Swift-Move Nigeria Ltd, headquartered in Abuja (Federal Capital Territory). Following a dispute regarding non-payment…

QUESTION 2 Elder Alabi (78 years old), a retired executive director of Zenith Energy Plc, lives alone and suffers from mild dementia. He relies entirely on his spiritual advisor, Pastor Barnabas of t…

Zenith Flour Mills Plc scheduled its Annual General Meeting (AGM) for 25th November 2023 at Lagos. The company secretary dispatched the notice of the meeting on 10th November 2023 via registered post …

Koko Maritime Services Plc is a major logistics company listed on the Nigerian Exchange Group. Chief Alabi is an Executive Director of the company responsible for business development. In March 2023, …

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF NIGERIA SKILLS LEVEL EXAMINATION - BUSINESS LAW QUESTION 3 Chief Okon was a senior partner in "Okon, Bello & Associates", a prominent firm of tax and accoun…

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF NIGERIA SKILLS LEVEL EXAMINATION - BUSINESS LAW QUESTION 2 Kalu, Danjuma, and Folake formed "KDF Logistics LLP", a Limited Liability Partnership registered …

Adebayo was employed as Operations Manager by Zenith Logistics Ltd, Ikeja, Lagos, under a written contract of employment. After five years of meritorious service, he was accused of gross misconduct in…