How to do a background check on a Nigerian company

The importance of background checks or due diligence as some may put it, can never be over emphasized especially when your pocket is at stake. It has saved a lot of persons from potential pitfalls and it will be in your interest to know how you can go about it so that you will be protected too. This article will be looking at how to do a background check on a Nigerian company.

Companies are springing forth from every corner of Nigeria both offline and online and with this increase come an increase in the number of persons falling victim to scam. To save yourself from falling among this group of persons, you need to be on the alert.

A few points to keep in mind:

·         Get a Nigeria-based lawyer.

·         Check CAC for the companies details. All Nigerian companies should be registered at the Corporate Affairs Commission and you should be able to get basic details about the company.

·         For public companies, visiting the Securities and Exchanges Commission should be enough to get key public details.

·         Find out which state their main operations are resident in or where most of their customers are and pay a good lawyer to find out if there are any pending cases in the courts.

·         Google their website to find out who the board members are. Then proceed to search on linkedin and facebook to find out as much as you can about the people behind the brand.

·         Ask them for references.

·         Find their past projects and conduct your individual assessment.

·         For oil servicing firms, get a lawyer to visit NAPIMS and verify that they are actually registered.

·         Also look for employees who might be willing to share details. A physical visit might make this easier.

·         Get a friend or other friend to verify actual physical presence. Do they own the property or is it rented? How long have they been at the premises? Any helpful co-tenants should be convinced to share information.

·         One other trick you can use is going to Google. When you get there type the name of the company + SCAM then hit search. The results will tell you more about the company.

·         Sign up for Nigerian forums/social networks like www.nairaland.com or www.naijahotjobs.com and use their search forms to garner information about them.

This may seem like too much trouble but if you are about to invest 500,000 naira for example with this investment company, won’t you do your best to be sure that your money is in good hands?

There you have it; you can now know how to do a background check on a Nigerian company. Don’t fall for scammers.

References:

If you have links that might be relevant to this post, don’t hesitate to post them in the comments below.

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  1. Audrey Tomori4 July 2016 at 14:18

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