Key Differences: Incorporated Trustees (NGO) vs. Companies Limited by Guarantee
Image Credit : dreamstimes.com If you're setting up a non-profit in Nigeria, there are two popular options you'll come across at the Corporate Affairs Commission (CAC): Incorporated Trustees (IT) and Company Limited by Guarantee (CLG). Both of them lead to organisations with non-profit structures, both are registered with the CAC, and both are used for charitable, religious, educational, or social work, which is exactly why people confuse them. Knowing the differences between the two matter. Keep reading to learn what sets them apart. What Are Incorporated Trustees (IT)? Incorporated Trustees is the structure most people mean when they say “I want to register a non-profit” or "I want to register an NGO ." It is governed by Part F of the Companies and Allied Matters Act (CAMA) 2020 and is built specifically for non-profits, such as NGOs, churches, mosques, foundations, clubs, and professional or community associations. Note :...