How to register a public (limited) company in Nigeria

How to register a public (limited) company in Nigeria

July 23, 2019

A public company is one who is able to sell its shares to the public and may have its shares quoted on the stock exchange. A minimum of 2 persons is required by the Corporate Affairs Commission (CAC) to register this type of company and the share capital must be a minimum of N500,000.

Register your public company by following the simple steps below;

  • Choose 2 names for the proposed company in order of preference
  • Log on to the CAC portal at www.cac.gov.ng
  • Conduct a search for availability of the name on the CA.C website
  • Reserve the available name by paying reservation fees after which a notice of approval will be sent by the commission
  • Complete the online pre-registration form (CAC 1.1) on the portal
  • Pay filing and stamp duties fees
  • Prepare the following documents to be scanned on to the portal
  1. Names, addresses, phone numbers and email addresses of Shareholders, stating the shareholding percentage for each shareholder
  2. Name, address, phone number and email address of Company Secretary (must be a professional)
  3. Name, addresses, phone numbers and email addresses of Directors (minimum of two directors. Note that to appoint a minor, i.e. a person below 18 years of age as a director, there has to be a minimum of two adult directors).
  4. Proposed Company address.
  5. Proposed share capital of the company (minimum of N500, 000)
  6. Means of identification for the directors, shareholders and Company Secretary i.e a copy of international passport, permanent voters card, national id card or driver’s license
  7. Objects of the Company, i.e business the Company proposes to operate
  8. Memorandum and Articles of association of the Company
  • Submit the original copies of the scanned documents at the nearest CAC office.

Note that you need to engage the services of an accredited agent for the registration as only an accredited agent can register with the CAC.

Best regards,

Team 618 Bees

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advise, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advise from the particular facts and circumstances at issue from a lawyer.

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Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 

  • Do I need a Company Secretary?

    A limited liability company (LLC) must have a company secretary.

  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office

  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.

  • What is share capital?

    The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership.

  • What is a trademark?

    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.

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