A Practical Guide to Business Compliance in Nigeria Getting a CAC certificate can feel like the finish line. You have your certificate of incorporation. You have your RC number. You have your company bank account. You have started doing business. So naturally, you think: “My company is registered. I’m compliant.” But those two statements don’t…
“If my product is good, customers will find me.” It’s one of the most expensive lies a business owner can believe. Every day, talented entrepreneurs close their shops wondering why sales are slow. Not because their products are bad. Not because their prices are too high. Not because they aren’t hardworking. But because the people…
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Some regulated businesses in Nigeria require higher minimum share capital before they can be registered with the Corporate Affairs Commission (CAC). Below are examples of companies that require higher share capital.
| Business Type | Minimum Share Capital |
|---|---|
| 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 |
| 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) | 1 Billion |
| Microfinance Bank (National) | 5 Billion |
| Insurance Broker | 5 Million |
| Life Insurance Company | 8 Billion |
| General Insurance Company | 10 Billion |
| Composite Insurance Company | 18 Billion |
| Reinsurance Company | 20 Billion |
| Private Security Company | 10 Million |
| Pension Fund Custodian | 2 Billion |
| Pension Fund Administrator | 1 Billion |
| Lottery Company | 5 Million |
| Sports Lottery | 30 Million |
| Air Transport (International) | 2 Billion |
| Air Transport (Regional) | 1 Billion |
| Air Transport (Local) | 500 Million |
| Shipping Company / Agent | 25 Million |
| Freight Forwarding Company | 5 Million |
| Payment Service Bank | 5 Billion |
If your intended business falls within these categories or requires higher share capital, kindly contact us for proper CAC registration assistance.