Companies in Nigeria are registered with the Corporate Affairs Commission (CAC) under the Companies and Allied Matters Act 2020. The process is largely online, but getting the structure right at the start saves time and cost later.
Choose the right structure
Most growing businesses register a private company limited by shares. A business name may suit a sole trader, while non profit organisations usually register as incorporated trustees. Each has different obligations, so take advice before you choose.
Reserve a name
Search for and reserve your proposed name on the CAC portal. Names that are identical or too similar to existing names, or that suggest government affiliation, are likely to be rejected.
Prepare the documents
- Memorandum and articles of association
- Particulars of directors and shareholders
- Statement of share capital
- Details of persons with significant control
- Identification documents for directors and shareholders
After incorporation
Registration is the start, not the end. You will need to register for tax, open a corporate bank account, keep statutory registers and file annual returns with the CAC every year.
A well drafted shareholders' agreement agreed at the start prevents most founder disputes later.
This article is for general information only and is not legal advice. For advice on your specific situation, book a consultation with our team.
