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A Disclosure Statement helps businesses and organizations in Nigeria communicate important facts and potential risks to their stakeholders. This document lays out key information about financial status, business operations, or specific transactions that might affect investors, customers, or other parties making decisions.

Under Nigerian securities law and corporate governance codes, companies must provide accurate disclosure statements before major transactions, during fundraising, or when listing on exchanges like NGX. The statement protects both the organization and its stakeholders by ensuring everyone has access to the same essential information, helping prevent fraud and promoting transparency in business dealings.

Use a Disclosure Statement when your Nigerian business faces key moments that require transparent communication with stakeholders. Common triggers include seeking investment funding, launching an IPO, merging with another company, or making significant changes to your business structure or operations.

The document becomes essential before major financial transactions, when sharing sensitive business information with potential partners, or during regulatory filings with bodies like SEC Nigeria and NGX. Nigerian law requires disclosure statements for publicly traded companies, investment firms, and financial institutions, especially when dealing with material information that could influence stakeholder decisions.

• Commercial Disclosure Statements detail financial and operational information for business transactions and partnerships
• Financial Services Disclosure Statements meet SEC Nigeria requirements for investment products and securities offerings
• Real Estate Disclosure Statements reveal property conditions and legal status during sales or leases
• Corporate Disclosure Statements update shareholders and regulators about material changes in publicly traded companies
• Employment Disclosure Statements outline workplace policies, benefits, and contractual obligations to staff

• Public Companies: Must provide disclosure statements to meet NGX and SEC Nigeria requirements when listing shares or raising capital
• Corporate Lawyers: Draft and review disclosure statements to ensure legal compliance and protect client interests
• Financial Institutions: Issue statements about investment products, risks, and terms to customers
• Business Owners: Use disclosure statements during partnerships, sales, or significant business changes
• Regulatory Bodies: Review and enforce disclosure requirements to maintain market transparency and protect investors

• Basic Information: Gather company details, registration numbers, and relevant business licenses
• Financial Data: Compile accurate financial statements, risk factors, and material business information
• Legal Review: Check Nigerian disclosure requirements for your industry and transaction type
• Documentation: Collect supporting documents like permits, certificates, and relevant contracts
• Format Structure: Use our platform's templates to ensure your disclosure statement includes all required sections and meets Nigerian legal standards
• Internal Validation: Have key stakeholders review the draft for accuracy and completeness

• Company Information: Full legal name, registration number, and principal business address
• Material Facts: Clear statements about business operations, risks, and financial position
• Legal Compliance: References to relevant Nigerian laws and regulatory requirements
• Risk Factors: Detailed outline of potential risks and their impact on stakeholders
• Financial Details: Current financial position, projections, and material changes
• Authentication: Dated signatures of authorized officers and corporate seal where required
• Disclaimer Section: Standard protective clauses limiting liability within Nigerian law

A Disclosure Statement differs significantly from a Non-Disclosure Agreement in both purpose and scope. While both documents deal with information sharing, they serve opposite functions in Nigerian business practice.

• Direction of Information Flow: Disclosure Statements actively share information with stakeholders, while NDAs restrict information sharing and maintain confidentiality
• Legal Purpose: Disclosure Statements fulfill regulatory requirements and protect the disclosing party from future claims of incomplete information, whereas NDAs create legally binding confidentiality obligations
• Timing and Duration: Disclosure Statements typically represent a one-time communication of facts at a specific moment, while NDAs establish ongoing confidentiality obligations
• Enforcement Mechanism: Disclosure Statements serve as evidence of transparency, while NDAs provide grounds for legal action if confidentiality is breached