Minimum Share Capital Requirements for Company Registration in Nigeria
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In Nigeria, company registration requirements vary by industry, with specific statutes and regulations mandating minimum share capital thresholds before a business can be legally registered and commence operations. These thresholds are designed to ensure financial viability, attract investor confidence, and meet industry-specific regulatory demands.
A well-capitalized company is better positioned to secure additional funding, comply with stringent regulations, and operate effectively in highly regulated sectors.
Key Industry Share Capital Requirements
Below is a breakdown of the minimum share capital required for various industries before registration with the Corporate Affairs Commission (CAC):
Financial & Investment Services
- Issuing House: ₦200 Million
- Broker/Dealer: ₦300 Million
- Trustee: ₦300 Million
- Fund/Portfolio Manager: ₦150 Million
- Stock Broker: ₦200 Million
- Stock Dealer: ₦100 Million
- Corporate Investment Adviser (Registrar): ₦150 Million
- Corporate Investment Adviser: ₦5 Million
- Individual Investment Adviser: ₦2 Million
- Market Maker: ₦2 Billion
Banking & Finance
- Commercial Bank (Regional): ₦10 Billion
- Commercial Bank (National): ₦25 Billion
- Commercial Bank (International): ₦50 Billion
- Merchant Bank: ₦15 Billion
- Microfinance Bank (Unit - Tier 1): ₦200 Million
- Microfinance Bank (Unit - Tier 2): ₦50 Million
- Microfinance Bank (State & FCT): ₦1 Billion
- Microfinance Bank (National): ₦5 Billion
- Finance Company: ₦20 Million
Insurance Sector
- Life Insurance: ₦8 Billion
- General Insurance: ₦10 Billion
- Composite Insurance: ₦18 Billion
- Reinsurance: ₦20 Billion
- Insurance Broker: ₦5 Million
Payments & Fintech
- Payment Solution Services (PSS): ₦250 Million
- Super Agent: ₦50 Million
- Payment Terminal Service Provider (PTSP): ₦100 Million
- Payment Solutions Service Provider (PSSP): ₦100 Million
- Mobile Money Operation (MMO): ₦2 Billion
- Switching & Processing: ₦2 Billion
Aviation Industry
- International Air Transport: ₦2 Billion
- Regional Air Transport: ₦1 Billion
- Local Air Transport: ₦500 Million
- Air Ambulance/Fumigation/Private Jet: ₦20 Million
- Ground Handling Services: ₦500 Million
Pension & Security
- Pension Fund Custodian: ₦2 Billion
- Closed Pension Fund: ₦500 Million
- Pension Fund Administrator: ₦5 Billion
- Private Security Company: ₦10 Million
Other Industries
- Lottery: ₦5 Million
- Sports Lottery: ₦30 Million
- Shipping Company/Agent: ₦25 Million
- Freight Forwarding: ₦5 Million
- Travel & Tours: ₦30 Million
- Health Maintenance Organization (HMO) - National: ₦400 Million
- Health Maintenance Organization (HMO) - Regional: ₦200 Million
- Health Maintenance Organization (HMO) - State: ₦100 Million
Foreign-Owned Businesses
For businesses with foreign participation, the minimum share capital requirement is ₦100 million. Entrepreneurs seeking to establish businesses in Nigeria should consult experienced corporate law experts for guidance on compliance and regulatory requirements.
Idara simplifies the company registration process, ensuring seamless compliance with CAC and industry-specific regulations. Contact us today to get started!
