Start Your Company in Nigeria

Why Register a Company in Nigeria?

• Nigeria has a politically stable environment on top of a free market economy.
• The population of Nigeria is enormous and skilled, making it easy to procure an inexpensive and efficacious workforce here.
• The country is rich in natural resources like oil and minerals.
• Exchange control regulations in Nigeria have been liberalized to enable the free flow of international capital. Now there is unrestricted movement of investment capital here.

Process of Registering a Company in Nigeria

Company registration in Nigeria may be carried out as per the following steps:

• Decide upon a name for the company, and check for its availability with the Corporate Affairs Commission (CAC).
• Fill out the form CAC 1.1. It requires the provision of key information fundamental for your new company, like authorized share capital and particulars of the directors and the shareholders.
• Prepare the Memorandum and Articles of Association (MAA), specifying the company’s objectives, in addition to the shares already issued to each of the directors – following from the information filled in form CAC 1.1. A witness is required to sign this document.
• Based on the company type and the volume of your share capital, pay the requisite CAC registration fee and stamp duty.
• Get the form CAC 1.1 and the MMA (both duly stamped) signed by the directors, shareholders, witnesses and accredited CAC agents.
• Submit the following documents to the CAC online:
  • Form CAC 1.1
  • MMA of the company
  • Name availability notification from CAC
  • The means of identification of all the stakeholders
  • The CAC receipt for payment of registration fees

The CAC should take 2-3 days to examine these documents. If everything is in order, a notification will be sent informing you of the company’s registration with the company’s RC number.

Documents Required for Company Registration in Nigeria

• Memorandum and Articles of Association
• Form CAC 1.1
• Proof of registered business address
• List, particulars and consent of the first directors of the company
• Statement of compliance by a legal practitioner
• Receipt of payment of stamp duties