Registering a company in Nigeria requires compliance with the minimum share capital thresholds prescribed by the Companies and Allied Matters Act (CAMA) 2020 and enforced by the Corporate Affairs Commission (CAC). The required share capital varies depending on the type of company and the industry in which the company intends to operate.
Share capital represents the total value of shares that a company can issue to its shareholders and serves as a measure of the company’s financial structure. While some businesses require only the statutory minimum share capital, regulated industries may require significantly higher thresholds as prescribed by sector regulators.
| S/N | TYPE OF COMPANY/ INDUSTRY | MINIMUM SHARE CAPITAL (N) |
| 1. | FUND/PORTFOLIO MANAGERS | 150 MILLION |
| 2. | BROKERS/DEALERS | 300 MILLION |
| 3. | TRUSTEES | 300 MILLION |
| 4. | INTER-DEALER BROKER (IDB) | 50 MILLION |
| 5. | STOCKBROKERS | 200 MILLION |
| 6. | STOCK DEALERS | 100 MILLION |
| 7. | INDIVIDUAL INVESTMENT ADVISER | 2 MILLION |
| 8. | MARKET MAKER | 2 BILLION |
| 9. | ISSUING HOUSE | 200 MILLION |
| 10. | CONSULTANT PARTNERSHIP | 2 MILLION |
| 11. | CORPORATE INVESTMENT ADVISER ( REGISTRAR) | 150 MILLION |
| 12. | UNDER WRITER | 200 MILLION |
| 13. | COMMODITIES EXCHANGE | 500 MILLION |
| 14. | CORPORATE INVESTMENT ADVISER | 5 MILLION |
| 15. | CAPITAL TRADE POINT | 20 MILLION |
| 16. | CONSULTANT INDIVIDUAL | 500, 000 |
| 17. | VENTURE CAPITAL MANAGER | 20 MILLION |
| 18. | CORPORATE/SU BROKER | 5 MILLION |
| 19. | PRIMARY MORTGAGE INSTITUTIONS | 2 BILLION |
| 20. | FINANCE COMPANY | 20 MILLION |
| 21. | CONSULTANT CORPORATE | 5 MILLION |
| 22. | RATING AGENCY | 150 MILLION |
| 23. | COMMODITIES BROKER | 40 MILLION |
| 24. | MERCHANT BANKS | 15 BILLION |
| 25. | COMMERCIAL BANK (REGIONAL AUTHORIZATION) | 10 BILLION |
| 26. | COMMERCIAL BANKS (NATIONAL AUTHORIZATION | 25 BILLION |
| 27. | COMMERCIAL BANKS (INTERNATIONAL AUTHORIZATION) | 50 BILLION |
| 28. | MICRO FINANCE BANK (NATIONAL) | 2 BILLION |
| 29. | MICRO FINANCE BANK (STATE & FCT) | 100 MILLION |
| 30. | MICRO FINANCE BANK (UNIT) | 20 MILLION |
| 31. | NON INTEREST BANKS (NATIONAL) | 10 BILLION |
| 32. | NON INTEREST BANKS (REGIONAL) | 5 BILLION |
| 33. | INSURANCE BROKERS | 5 MILLION |
| 34. | LIFE MICROINSURANCE BUSINESS | 150 MILLION |
| 35. | BUREAU DE CHANGE | 35 MILLION |
| 36. | GENERAL MICROINSURANCE BUSINESS | 200 MILLION |
| 37. | GENERAL TAKAFUL/FAMILY TAKAFUL | 200 MILLION |
| 38. | GENERAL INSURANCE BUSINESS | 3 BILLION |
| 39. | LIFE INSURANCE | 2 BILLION |
| 40. | REINSURANCE BUSINESS | 10 BILLION |
| 41. | PRIVATE SECURITY COMPANY/CONSULTANT | 10 MILLION |
| 42. | AGENTS OF FOREIGN AIRLINES | 1 MILLION |
| 43. | CLOSED PENSION FUND | 500 MILLION |
| 44. | PENSION FUND ADMINISTRATORS | 1 BILLION |
| 45. | PENSION FUND/ASSET CUSTODIANS | 2 BILLION |
| 46. | LOTTERIES | 5 MILLION |
| 47. | HEALTH MAINTENANCE ORGANISATIONS (HMOs) (STATE) | 100 MILLION |
| 48. | HEALTH MAINTENANCE ORGANISATIONS (HMOs) (ZONAL) | 200 MILLION |
| 49. | HEALTH MAINTENANCE ORGANISATIONS (HMOs) (NATIONAL) | 400 MILLION |
| 50. | AERIAL AVIATION SERVICES | 20 MILLION |
| 51. | AIR AMBULANCE/FUMIGATION/PRIVATE JET | 20 MILLION |
| 52. | SPORT LOTTERY BUSINESSES | 30 MILLION AND APPROVAL IN PRINCIPLE |
| 53. | AIR TRANSPORT (LOCAL) | 500 MILLION |
| 54. | AIR TRANSPORT (REGIONAL) | 1 BILLION |
| 55. | AIR TRANSPORT (INTERNATIONAL) | 2 BILLION |
| 56. | FREIGHT FORWARDING | 5 MILLION |
| 57. | AVIATION (AIR TRANSPORT TRAINING INSTITUTIONS) | 2 MILLION |
| 58. | AVIATION (Ground Handling Services) | 500 MILLION |
| 59. | SHIPPING COMPANY/AGENT | 25 MILLION |
| 60. | CABOTAGE TRADE | 25 MILLION |
| 61. | AGRICULTURAL SEEDS, PRODUCTIONS, PROCESSING AND MARKETING | 10 MILLION |
CONCLUSION
Understanding the applicable share capital requirements is a crucial step when establishing a company in Nigeria. While the statutory minimum share capital for a private company is relatively low, businesses operating in regulated sectors or with foreign participation must comply with higher thresholds prescribed by relevant regulatory authorities.
Prospective investors and entrepreneurs are therefore advised to determine the appropriate share capital based on the nature of their business and any regulatory requirements applicable to their industry.