How do you start business registration in Nigeria,whether you are in Lagos state,Abuja,Port harcourt,Anambra state or Kaduna state,your chances of succeeding with the registration starts with the right knowledge.

it is very pertinent to be informed on general requirements for company registration in Nigeria.

To register a company in Nigeria,Africa’s most populated country,one need to know what it takes,company registration is very simple,but can be very complicated when you are ignorant of what it takes.

We are providing you a general information on your pre-incorporation stage.

some companies require certain procedures to be taken,before one can register it.

  1. Approval in Principle is required for certain designated business enterprises
    e.g. banks, Mortgage Institutions, Bureau De Change, etc.
  2. ) Certain designated businesses have industry-prescribed minimum share
    capital (see table following for the designated businesses and the
    prescribed minimum share capital)
    .
  3. ) The minimum share capital for a company with foreign participation is
    N10,000,000.00 (ten million naira).

    4) Evidence of the Commission’s consent in the case of company limited by
    guarantee and change of name.

    5) The memorandum of a company limited by guarantee shall not be
    registered without the approval of the Attorney-General of the Federation.
    6) Every Subscriber to the memorandum of a company limited by shares must
    take up at least one (1) share while among themselves they shall take up a
    total number of shares of a value not less than 25 per cent of the
    authorised share capital.
    7) Names of all Subscribers must be clearly and fully stated (no initials) in the
    memorandum and articles while, in the case of company limited by shares,
    the number of shares taken up by each subscriber must be indicated in
    front of their respective names in the memorandum.

    8) The memorandum of a company limited by guarantee must contain the
    Property Clause.
    9) The object clause of a company limited by guarantee must not include
    making profits for distribution to the Members.

    10) The memorandum of a company limited by guarantee must contain the
    Contribution Clause with a prescribed aggregate of not less than
    N10,000.00 (ten thousand naira) in the event of winding up.
    11) The Memorandum of a company limited by guarantee must contain the
    Winding Up Clause
    CAC, OPERATIONS CHECKLISTS JULY, 2020
    Page 8 of 53
    12) A corporate body cannot be a Director of a company but may be
    represented by an individual nominated for that purpose e.g. Adeola
    Emeka Umar (representing ABC Nigeria Limited).
    13) Where a firm is Secretary, stamp of the firm must be endorsed and signed
    by its representative with the name of such representative clearly stated.
    14) All documents must be clearly typed. No cancellations, alterations, erasures
    or mutilations should be allowed on documents submitted for registration.
    Documents with errors must be reproduced for submission.
    15) A person below the age 18 may only join in the formation of a company if
    two or more persons of full capacity have subscribed to the memorandum.

    16) Name of company must appear on form CAC 1.1 and memorandum and
    articles exactly as it appears on the Name Availability Form.
    17) Where a third party is presenting documents on behalf of the presenter,
    the documents must be accompanied by a Letter of Authority.
    18) Documents must comply strictly with the provisions of the Act and the
    Commission’s requirements for registration of company.
    19) Documents must be properly and correctly assessed and receipt of
    payment attached.
    20) Particulars of Subscribers, Directors and Secretary must be accompanied by
    photocopy of recognised and valid means of photo identification, i.e.
    National Identification Card, Data Page of International Passport, Driver’s
    Licence or Voter’s Card.
    21) Information on documents must be same with data entered on Company’s
    Registration Portal (CRP)
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