14/09/2016
Company Registration in
Nigeria / Business Registration :
All You Need To Know
Do you want to register your company
and you don’t know how to go about it
or probably, you had been told that
company registration in Nigeria is
difficult right ? –
If you answer yes to that. Then, this
article on company registration on in
Nigerian had been written specifically
for you as a guide on how to register
company in Nigeria. After going through
this, am sure you will know how to
register your business ( Name ) easily.
Companies are been registered in the
Corporate Affairs Commission ( CAC ). Let
take a brief look at CAC before moving
further.
CORPORATE AFFAIRS COMMISSION ( CAC )
The Corporate Affairs Commission is a
Federal Government of Nigeria body
responsible for regulating the formation
and management of companies in
Nigeria. This autonomous body was
established in 1990 as a product of the
Companies and Allied Matters Decree no
1 ( CAMD ) 1990 as amended. CAC carries
out it designated role through
accredited members of the Nigerian Bar
Association ( NBA ), Institute of
Chartered Secretaries and
Administrators of Nigeria ( ICSAN ),
Association of National Accountants of
Nigeria and the Institute of Chartered
Accountants of Nigeria. A Registrar-
General is the head of this Commission.
REQUIREMENTS AND COST OF REGISTERING
A COMPANY IN NIGERIA :
1. To register a limited liability
company, 2 persons are required
and this number can go up,
depending on the number of
shareholders. Each shareholders
name is noted with his amount of
shares.
2. The aims and objectives of your
proposed company.
3. The absolute address of the
proposed company.
4. The full names of the shareholders
and Directors including their
shares, occupation, contact address
and signatures.
5. A scanned copy of a means of
Identification of the shareholders
and Directors. This could either be
National Identity card, international
Passport or Driver’s License.
The cost of registering a company
differs from company to company. It
depends on several factors, so writing all
this in a single article would lead to
distractions and besides, this can be
changed anytime so it is best to check it
on the CAC website new.cac.gov.ng/
home/summary-of-fees-and-forms/
alternative. logon to http://
new.cac.gov.ng/home/ and lookout for
FEES AND FORMS and click it to view how
much it will cost you to register a
company.
STEPS TO REGISTERING A COMPANY IN
NIGERIA
1. The first step is deciding the name
of the company. You would be
required to submit 2 proposed
names to CAC while it would then
choose the best based on
availability. After deciding on the
name, go to the closest CAC office.
2. The approval office will then carry
out a Name Availability Search to
see if your proposed company /
business name had not been
previously registered by someone
else. If both had been registered,
you would then be required to
submit another set of names. If
only one is registered, the other
option would be used for
registration. In the case where
both names had not been
registered, the first one would be
used.
3. After the Name reservation, the
step is the registration
(incorporation) of the company.
This is done by correctly filling the
requisite incorporation documents
and paying the required fees.
4. Your certificates and the Certified
True Copy of Forms (DEEDS) should
be ready for collection (minimum of
2 weeks) after completing the
registration.
The establishment of the Corporate Affairs Commission as an autonomous body was as a result of the perceived inefficiency and ineffectiveness of the erstwhile Company Registry, a department within the Federal Ministry of Commerce and Tourism which was then responsible and administration of the repea...
