The Share Capital of a company is the money invested in the company by its shareholders. It is part of the finances of a company that enables it to run its business and carry out operating activities.

There is no fixed amount requirement for a company share capital. However, the Companies and Allied Matters Act provides a prescribed minimum share capital of N10,000 (Ten Thousand Naira) for private companies and N500,000 (Five Hundred Thousand Naira) for public companies i.e. companies whose shares are traded on the stock exchange.

For some companies depending on the industry in which those companies fall, a higher minimum share capital is prescribed by industry regulators such as the Stock Exchange Commission, Corporate Affairs Commission, Central Bank of Nigeria, Nigerian Civil Aviation Authority etc.

Fortunately, we have prepared a comprehensive list that covers different company types in different industries and the minimum share capital required.

The list also provides for the certificate(s) requirement of at least one of the directors in the different companies before the incorporation of such company can be done.

S/NTypes Of CompanyMinimum Share CapitalJustificationCertificate Required
1.Issuing HouseN150MSecurities and Exchange Commission guidelines on minimum share capital for market operatorsNIL
2Broker/DealerN70MSame as aboveSame as above
3 TrusteesN40MSame as aboveSame as above
4Fund/Portfolio Manager/Risk ManagerN20MSame as aboveSame as above
5Corporate Investment AdviserN5MSame as aboveSame as above
6 Individual Investment AdviserN500,000Same as aboveSame as above
7 RegistrarsN50MSame as aboveSame as above
8 Rating AgencyN20MSame as aboveSame as above
9 Corporate Sub-BrokersN5MSame as aboveSame as above
10 Individual Sub-BrokerN500,000Same as aboveSame as above
11 UnderwriterN100MSame as aboveSame as above
12 Market MakerN2BSame as aboveSame as above
13Consultant PartnershipN2MSame as aboveSame as above
14 Consultant CorporateN5MSame as aboveSame as above
15 Venture Capital ManagerN20MSame as aboveSame as above
16 Commodity BrokerN40MSame as aboveSame as above
17 Capital Trade PointN20MSame as aboveSame as above
18 Stock Commodity ExchangeN500MSame as aboveSame as above
19Clearing And Settlement AgencyN500MSame as aboveSame as above
20 Life InsuranceN2BGuideline on Insurance Sector Reform and Consolidation Made Pursuant to S. 9 (4) Insurance Act 2003 Same as above
 21 General Insurance Business N3B Same as above Same as above
 22 Re-Insurance Business N10B Same as above Same as above
 23 Insurance Broker N5M Same as above Same as above
 24 Risk Manager /insurance N20M Same as above Same as above

In part 2 of this series, we will list other companies and their minimum share capital requirements.