Money lending and Loan operation business in Nigeria requires registration.

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One would need to think on the risks of starting a business before thinking of the profits associated with such business.

Money lending business is a lucrative business, and with the ever-increasing population of Nigeria, money will become scarcer.

Money lending is one of the ways of using money to make money world over.

Lets talk about the international money lending companies like oikocredit,worldbank, international monetary fund,ifc ,African development bank and others, they provide money lending to organizations of government or privately held foundations.

in Nigeria, incorporating a company for purpose of lending money to others for interest is something every citizen can do.

The process of having a fully functional money lending company in Nigeria is in stages, the proprietor will have to meet up with the registration criteria, then business plan, capital and workplace.


The corporate affairs requirement for a money lending incorporation, is that the company must have minimum share capital of N20M shares capital.The object clause of the company must include money lending business or Rendering of financial service.

The good news now is that one person can fully own a company, including a money lending company in Nigeria.

To register a money lending company with cac, the owner will need to submit

#1. Proposed Name for Name search and reservation

#2. Fill the online forms for company registration

#3. Prepare memorandum and articles of association of the company

#4. Pay filing fee and firs stamp duty fee for the registration.

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#5. upload the means of identification

#6. obtain the certificate when approved.

After going through this first stage, then the owner is now presented with the incorporation certificate


#1. The owner will prepare An Application/Forwarding letter with the iron seal of the company attached.

The content of the letter must indicate the office address of the individual or corporate applicant.

#2. duly certified cac form 1.1 ,cac form 1.1 page which is the application page and page evidencing the directors of the company.

#3 A colored photocopy of Certificate of Incorporation of the Company.

#4.Duly Certified copy of the Memorandum and Articles of Association of the money lending company.

#5.Tax Clearance certificate from state tax office of the proposed private lending company.

#6. Police clearance certificate from the Commissioner of Police for the director of the proposed private lending company.

#7. Open a Physical Office: The business can be operated from there or remotely, but the office address must be recognized and traceable for purpose of correspondence.

#8. Open and maintain a corporate account with a commercial bank.

#9. Obtain form B AND C from a designating magistrate in the location.

#10.personal income tax clearance certificate for payment of Tax at least for 3 years from the owner(s) of the company.

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