Having a business idea,and getting through the hurdles for the registration of the business are two different issues.
There are basic requirements,one need to meet up with before he /she can register a company in Nigeria,most business men who had interest in registering a private security firm,have actually being surprised to learn about the required minimum share capital,that the company must have before it can be legally registered in Nigeria,if it has these objects.let me proceed and provide you with an insight now,before you can register a private security firm in Nigeria,the company must have atleast 10m shares capital,fully subscribed to by the share holders of the company.
lets give you a little insight about the minimum threshold of share capital,for registration of some companies,with the objects mentioned below.
please note that you are not required to have these amounts,(share capital )in your bank account before you can register,it only means,you are required to pay charges,these share capital will attract at the relevant government agencies,corporate affairs commission and stamp duty office.
| S/N | TYPE OF COMPANY | MINIMUM SHARE CAPITAL | JUSTIFICATION |
| 1. | ISSUING HOUSE | 200 Million | Securities And Exchange Commission guidelines on new minimum share capital for Market Operators. |
| 2. | BROKERS/DEALERS | 300 Million | |
| 3. | TRUSTEES | 300 Million | |
| 4. | FUND/PORTFOLIO MANAGERS | 150 Million | |
| 5. | STOCK BROKERS | 200 Million | |
| 6. | STOCK DEALERS | 100 million | |
| 7. | INTER-DEALER BROKER (IDB) | 50 Million | |
| 8. | CORPORATE INVESTMENT ADVISER( REGISTRAR) | 150 Million | |
| 9. | CORPORATE INVESTMENT ADVISER | 5 Million | |
| 10. | INDIVIDUAL INVESTMENT ADVISER | 2 Million | |
| 11. | MARKET MAKER | 2 Billion | |
| 12. | CONSULTANT PARTNERSHIP | 2 Million | |
| 13. | CONSULTANT INDIVIDUAL | 500,000 | |
| 14. | CONSULTANT CORPORATE | 5 Million | |
| 15. | UNDER WRITER | 200 Million | |
| 16. | VENTURE CAPITAL MANAGER | 20 Million | |
| 17. | COMMODITIES EXCHANGE | 500 Million | |
| 18. | COMMODITIES BROKER | 40 Million | |
| 19. | CAPITAL TRADE POINT | 20 Million | |
| 20. | RATING AGENCY | 150 Million | |
| 21. | CORPORATE/SU BROKER | 5 Million | |
| 22. | COMMERCIAL BANK WITH REGIONAL AUTHORIZATION | 10 Billion | CBN Scope conditions and minimum Standards for Commercial Banks Regulations 2010. |
| 23. | COMMERCIAL BANKS WITH NATIONAL AUTHORIZATION | 25 Billion | |
| 24. | COMMERCIAL BANKS WITH INTERNATIONAL AUTHORIZATION | 50 Billion | |
| 25. | MERCHANT BANKS | 15 Billion | CBN Scope, Condition and minimum Standard for Merchant Banks Regulation No 2, 2010. |
| 26. | MICRO FINANCE BANK (UNIT) | 20 Million | CBN Regulations |
| 27. | MICRO FINANCE BANK (STATE & FCT) | 100 Million | |
| 28. | MICRO FINANCE BANK (NATIONAL) | 2 Billion | |
| 29. | PRIMARY MORTGAGE INSTITUTIONS | 2 Billion | |
| 30. | FINANCE COMPANY | 20 Million | |
| 31. | BUREAU DE CHANGE | 35 Million | |
| 32. | NON INTEREST BANKS (REGIONAL) | 5 Billion | |
| 33. | NON INTEREST BANKS (NATIONAL) | 10 Billion | |
| 34. | INSURANCE BROKERS | 5 Million | NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS ACT, 2003 |
| 35. | LIFE INSURANCE | 2 Billion | Guidelines on Insurance Sector reform and Consolidation made. |
| 36. | GENERAL INSURANCE BUSINESS | 3 Billion | S. 9 (4) Insurance Act and Regulation 2003. |
| 37. | RE INSURANCE BUSINESS | 10 Billion | Pursuant to S. 9(4) Insurance Act and Regulation 2003. |
| 38. | LIFE MICROINSURANCE BUSINESS | 150 Million | GUIDELINES FOR MICROINSURANCE OPERATIONS IN NIGERIA, NATIONAL INSURANCE COMMISSION, DECEMBER 2013. |
| 39. | GENERAL MICROINSURANCE BUSINESS | 200 Million | |
| 40. | GENERAL TAKAFUL/FAMILY TAKAFUL | 200 Million | National Insurance Commission (NAICOM) RegistrationRequirement for Takaful Operators in Nigeria. March 2013 |
| 41. | PRIVATE SECURITY COMPANY/CONSULTANT | 10 Million | Guidelines on requirements for registration of Private Guard Security Companies made pursuant to Nigeria Security and Civil Defense Corp Act No. 2 of 2003. |
| 42. | PENSION FUND/ASSET CUSTODIANS | 2 Billion | Requirement for licensing of Pension Fund Custodians (FEB 2005).S. 40 (2) (a) Pension Reform Act 2004. |
| 43. | CLOSED PENSION FUND | 500 Million | |
| 44. | PENSION FUND ADMINISTRATORS | 1 Billion | |
| 45. | HEALTH MAINTENANCE ORGANISATIONS (HMOs) (NATIONAL) | 400 Million | National Health Insurance Scheme, HMO Accreditation Guidelines |
| 46. | HEALTH MAINTENANCE ORGANISATIONS (HMOs) (ZONAL) | 200Million | |
| 47. | HEALTH MAINTENANCE ORGANISATIONS (HMOs) (STATE) | 100 Million | |
| 48. | LOTTERIES | 5 Million | S. 2 (1) National Lotteries (Amendment) Regulations, 2007 |
| 49. | SPORT LOTTERY BUSINESSES | 30 MILLION + AIP | National Lottery Regulatory Commission |
| 50. | AIR TRANSPORT (INTERNATIONAL) | 2 Billion | Nigerian Civil Aviation AuthorityNigerian Civil Aviation Authority |
| 51. | AIR TRANSPORT (REGIONAL) | 1 Billion | |
| 52. | AIR TRANSPORT (LOCAL) | 500 Million | |
| 53. | AIR AMBULANCE/FUMIGATION/PRIVATE JET | 20 Million | |
| 54. updated 02/11/15 | AERIAL AVIATION SERVICES | 20 Million | |
| 55. | AVIATION (Ground Handling Services) | 500 Million | |
| 56. | AVIATION (AIR TRANSPORT TRAINING INSTITUTIONS) | 2 Million | |
| 57. | AGENTS OF FOREIGN AIRLINES | 1 Million | |
| 58. | AGRICULTURAL SEEDS, PRODUCTIONS, PROCESSING AND MARKETING | 10 Million | NASA CAP 5. LFN 2004 |
| 59. | SHIPPING COMPANY/AGENT | 25 Million | NIMASA GUIDELINES FOR REGISTRATION. |
| 60. | CABOTAGE TRADE | 25 Million | NIMASA GUIDELINES FOR REGISTRATION. |
| 61. | FREIGHT FORWARDING | 5 MILLION | (Registration of Freight forwarding) Regulation 2010. |