HOW TO DO BUSINESS IN NIGERIA

A lot of prospective businesses are not familiar with what takes to register a company in Nigeria.
The primary law governing companies in Nigeria is Companies and Allied Matters Act (CAMA). It covers the various types of structures, eligibility, the process for registration and rules of operations. Every prospective or existing company is expected to acquaint itself with relevant information issued by this regulatory body.

The regulatory body in charge of CAMA is the Corporate Affairs Commission (CAC).
The types of businesses allowed to operate in Nigeria are:
Registered Business Name
Company Limited by Shares
Company Limited by Guarantee
Limited Company either private or public
Incorporated Trustees

Here are some guides that would help in starting and operating a business in Nigeria for Private Companies Limited by Shares.

1. A company must have a minimum of 1 member and a maximum of 50 members.
2. Founding members must not be below 18 years old (unless 2 members are above 18 years cold), must be of a sound mind, must not be bankrupt, or disqualified by CAMA from being a director.
3. The current minimum share of a company to be registered in Nigeria is 10,000.

What documents are needed for Incorporation?
1. Memorandum and Articles of Association
2. Notice of registered address of the business
3. Particulars and consent of the first directors of the company.
4. Statement of compliance by legal practitioners.

Upon the successful completion of the registration, the company will be issued the Certificate of incorporation.

For more information and enquires kindly contact the following phone numbers 08074357780 or 08077269019.

Office Address
12th floor Labour House, Central Business District, Abuja, FCT.