Chinelo Kimberly Ilorah

Founding Partner - Templex & Kim LP | Startup Law

[Templex & Kim LP @templexandkim]

As we commemorate Democracy Day, we celebrate the values of accountability and the rule of law that form the foundation of a thriving democratic society.

Happy Democracy Day!

From all of us at Templex & Kim LP.

#TemplexandKimLP
#DemocracyDay
#Nigeria

[Chinelo Kimberly Ilorah @ckilorah]

Tenancy matters will teach you that empathy and professional responsibility do not always align neatly.

You can understand why someone is struggling and still recognise that obligations do not disappear because circumstances become difficult.

[Chinelo Kimberly Ilorah @ckilorah]

If you split shares equally without thinking it through, you’ve already created a future dispute.
“Equal”, if it ever does, only works at the beginning.

Time, money, control and decision-making rarely stay equal.

[Chinelo Kimberly Ilorah @ckilorah]

Assumptions are like sand and just as houses built on sand collapse, business partnerships built on assumptions collapse under pressure.

[Chinelo Kimberly Ilorah @ckilorah]

Again and again, I'm having to explain to clients why a Partnership Agreement is not less important in the process of setting up a corporate structure for their business.

Partnership Agreements set out the rights, duties, profit-sharing formula, decision-making structure, ...

[Chinelo Kimberly Ilorah @ckilorah]

...exit terms, dispute-resolution mechanisms, and the internal governance that holds the entire business relationship together. Without it, you’re building a company on assumptions.

[Kieran Drew @ItsKieranDrew]

Smart people need to write more.

I’m in Paraguay at the moment. I recently made a friend. He is one of the most fascinating people I’ve met around human performance.

Every time I speak to him, my mind is blown.

He’s helped me get rid of persistent injuries. Gave me tips that have 10x’d my energy. And knows so much about nomading without the cost to your health.

I WISH he had a blog.

Or a social media presence.

Somewhere I could dive into his ideas. Somewhere I could tell my friends to check out, too.

How many other people are out there with specific knowledge that an audience would leave to read?

How many ideas are wasted because someone is too scared to post their thoughts?

The Internet is such a great opportunity for consumers and creators.

And writing online is so much fun once you get going (not to mention the benefits that come from a quality brand).

So please, if you have something interesting to say, don’t hide in the shadows.

Writing will change your life.

And it will change other people’s, too

[Benkingsley Nwashara @Benking443]

TREATMENT OF GUNSHOT VICTIMS IN NIGERIA:

It is unlawful for any hospital to insist on a police clearance or ID card before treating a gunshot victim.

It also illegal to demand an initial monetary deposit before treating a victim of gunshot wounds.

Nevertheless, the..

[Leo @SpartanPsyche]

Neuroplasticity doesn’t care what you believe, it cares what you do. If you act disciplined, even while craving, your brain eventually adapts. That’s the beauty of recovery. You don’t need to feel strong. You just need to act like it, until the wiring agrees.

[Sam Parr @thesamparr]

How to live a miserable life in 5 easy steps:

1. Don’t decide. Spend tons of time planning and thinking, very little doing.

2. Don't set goals. And certainly don't track progress (or lack thereof).

3. Switch from thing to thing every quarter or year. Mastery and compounding is for suckers. Starting from scratch will be easier.

4. Don't have a best friend. Tons of acquaintances will suffice! Loving a buddy like family and caring for them is gay!

5. Buy individual stocks. Index funds are dumb. You're smarter than 90% of hedge funds with billions in budget and thousands in headcount. Your picks will help you sleep easy.

[Phenom @TheJesutoye]

I will build one of the biggest value driven conglomerate the world has ever known and make Africa a trade powerhouse capable of determining its own economic fortunes on its on terms backed by strong institutions and infrastructure.

It will take time but I'll get there.

[Foundational Nupe Lawyer @egi_nupe]

Top 10 Trade Secrets for New/Young Lawyers:

As a new lawyer, I started making more than double of my salaries, 150k per month in 2016 by doing the following:

1. Monetizing my knowledge:
One of the things I have never had to complain about as a lawyer, with 10years of experience, is poor pay and welfare. Perhaps, I am among the 1% of the privileged lawyers in this country, not because I am from a rich or connected family or because I graduated with high grades, but because I was quick to discover that law is a business more than just a profession.

As a lawyer, you are very valuable as much as the value you create and attach to yourself, your opinion and your knowledge. So before you also join the class of people who will start complaining about poor pay and welfare, monetize your knowledge, give free legal advice but know that the more free legal advice or services you render, the less likely people will take you serious for important or money making briefs. Charge people for consultations, writing letters, petitions, emails, Police/EFCC cases, attending meetings and CAC registrations and other related matters.

2. Prioritize relationships:
While in school, both uni and law school, I was a popular tutorial master and I was doing it for free! So it was an opportunity for me to network with people, both young and old. Those relationships meant so much to me and they still do. It was that time I realized that some people were just studying law just to have the certificate and not like their lives depended on it. Those people were the first set of people I started getting briefs from as a young lawyer. They were the first set of people who started referring clients to me when I was younger and many of them still do.

3. Social media visibility:
As someone with no hope of getting into big firms or landing a big job at the early stage of your career, social media is your best chance to let yourself be known. What you are known for is entirely your choice, but your core audience should be those who will patronize your business. Remember, law is not just a profession, it is a business/trade. So you have to let people know what you sell. With social media good social media visibility, you can make cool cash without noise and you will be fine.

4. Advertise your trade:
Contrary to what is popular among lawyers, law does not prohibit advertisement. You can advertise your trade as long as it is with the bounds of the rules of professional conduct for legal practitioners. I can conveniently tell you that I am a dispute resolution attorney with 10years of active litigation and ADR experience; and flair for corporate and commercial transactions, particularly real estate transactions and nobody will hold me for violating the rules of professional conduct. Let people know what you do, beyond just being “a lawyer��.

5. Build capacity:
One of the weaknesses of many lawyers is relying on residual knowledge. They do not make efforts to update their knowledge of law, practice and procedure. Like they have taught you in law school, what is obtainable in practice is different from what you are taught in law school. So it’s in your best interest to build capacity by regularly updating your knowledge of law and practice. People value and respect you more when you speak more from a place of updated knowledge and information about your profession. Self-train yourself, sponsor yourself for both online and offline trainings.

6. Do not be greedy:
One big problem with young lawyers, or human beings, is greed. Many young people are so greedy that they allow themselves to be controlled by greed and lose out on bigger opportunities. When you are greedy, you lose people’s trusts and confidence, which are the strengths of any successful lawyer you can find. Be contented with little, don’t let your greed to make quick money push you into engaging in crimes. As a lawyer, you will see some money that will scare you, but if you tame your greed, good

[Akpor Ikogho @legal_padi]

Whenever tax comes up, founders and business owners’ emotions run high.

My last post sparked a lot of comments. Some people even claimed that what I described was “tax evasion.” So, let me set the record straight.

Tax evasion is illegal. It’s when you deliberately underreport income, falsify records, or blatantly refuse to pay what the law requires. It’s a crime.

Tax avoidance, on the other hand, is perfectly legal. It’s the strategic use of provisions in tax laws to reduce your liability. One is fraudulent and criminal, the other is smart business planning.

Now, how does this affect the entrepreneur?

The first step is registering a limited liability company. If you run your business without incorporating, your earnings will be treated as personal income and taxed accordingly.

But if you’re incorporated under CAMA 2020, your business becomes a separate legal entity. Apart from being a shield, it opens the door to legitimate tax planning under the new NTA.

The benefits include:

1. Deductible expenses: Section 20 of the new NTA allows a company to deduct expenses that are wholly and exclusively incurred in the production of income. These include salaries, pensions, health insurance, housing, rent, utilities, machinery, and other staff benefits.

2. Minimal personal tax: As a founder, you can put yourself on a modest salary. That means you only pay personal income tax on your salary, which is minimal compared to the taxes you would have had to pay on your entire business income.

After deductions, whatever is left can be distributed to shareholders as dividends. Dividends attract withholding tax but not PAYE, making them more tax-efficient than a salary.

Of course, some taxes remain unavoidable. For instance, withholding tax (WHT) obligations on certain transactions are still part of daily business life. Small companies aren’t exempt from that.

Why does the law allow these deductions in the first place? Simple: the government wants to encourage small businesses. (Small companies pay 0% company income tax under the new tax laws.) They are, after all, the largest employers of labour. The system wants to reward entrepreneurs who build businesses because they drive economic growth.

So, next time you hear “tax avoidance,” don’t confuse it with evasion. One lands you in trouble, but the other is the mark of a good entrepreneur who understands how to legally keep more money inside the business.

[Chinelo Kimberly Ilorah @ckilorah]

Yes.

Or, investigate critically before forming an opinion, and let it evolve naturally as evidence shapes your understanding.

[Kieran Drew @ItsKieranDrew]

Life becomes simpler when you decide to stop having opinions on things you know nothing about.

[Chinelo Kimberly Ilorah @ckilorah]

“We’re 21 people registering a business name partnership. Any problem?”

Yes. The law caps it at 20.

Over 20? Must register as a company.

Exceptions: co-operatives, licensed law/accounting firms.

Ignore it? Risk daily fines.

Know before you register.

[Chinelo Kimberly Ilorah @ckilorah]

One Man. Empire.

“Can I start a company alone?”

✅ Yes. CAMA 2020 (Sec 18) allows single-member private companies.
✅ Just keep it lawful and meet CAC requirements.

You don’t need a partner to build your dream.

Ask your lawyer before you register.

[Chinelo Kimberly Ilorah @ckilorah]

Two friends start a company as shareholders and directors.

One wants directors paid. The other says founders shouldn’t take salaries yet.

They fight.

Lesson: Discuss thoroughly and exhaustively before you start. Set out agreed terms in a co-founder's contracts.

[Chinelo Kimberly Ilorah @ckilorah]

She came with style. I gave her strategy.

She thought CAC registration was enough until another brand echoed her slogan.
We trademarked her name, logo & slogan. Now she creates with flair and legal firepower.

If you want to loud it, protect it.

[Chinelo Kimberly Ilorah @ckilorah]

Visa Denied. Wahala Landed.

His visa was denied... his company hadn’t filed CAC annual returns in over 10 years.

Now he’s demanding a full refund from the agent… who had no contract, no refund policy, no legal cover.

Business owners, don't neglect compliance and contracts.

[Chinelo Kimberly Ilorah @ckilorah]

Still so easy to stay off social media.⁣
But nearly 3 weeks ago, I chose visibility.⁣
⁣
In showing up daily, I found clarity, courage & quiet growth.⁣
⁣
I’m learning that presence can be purpose, expressed consistently and with care.