A common requirement for public and private limited companies in Nigeria is that

Commerce

JAMB 2020

A. a shareholder cannot transfer his shares to someone else without permission from other shareholders
B. shares cannot be offered or sale on the stock exchange
C. their annual accounts are made available to the corporate affairs commission
D. shares can be offered for sale through an issuing house

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Correct Answer: Option C

Explanation

For public and private companies operating in Nigeria, it is required that their accounts are periodically updated with the corporate affairs commission to ascertain their operation status.

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