Here is the concluding part on our series on the minimum share capital requirements for different types of companies.
S/No. | Types Of Company | Minimum Share Capital | Justification | Certificate Required |
47 | Marine/shipping | N25M | NIL | NIL |
48 | Creche/Per-Nursery School | NIL | NIL | |
49 | Agriculture (seed) | N10M | NIL | NIL |
50 | Polytechnics | NIL | Approval in principle from NCCE | |
51 | Clearing & forwarding | N5M | NIL | NIL |
52 | Primary / Secondary School | NIL | NIL | NCE/B.ED certificate. |
53 | Management | NIL | NIL | Certificate issued by Nigerian institute of Management (NIM) |
54 | Advertising | N10m | Certificate issued by Advertising Practitioners Council of Nigeria (APCON) | |
55 | Accounting/Taxation | NIL | NIL | Certificate issued by ICAN/CITN |
56 | Investment company | NIL | NIL | Not registrable under business name |
57 | Group of Companies | Share capital must not be lower than any of the subsidiary | Corporate Affairs Commission Regulation | Consent of the Registrar General CAC required. At least three existing companies with common directors |
58 | Holding Company | Share capital must not be lower than any of the subsidiary | Corporate Affairs Commission Regulation | Consent of the Registrar General CAC required. At least two existing companies with common directors |
59 | Company Limited by Guarantee | Corporate Affairs Commission Regulation | Consent of the Registrar General CAC required. | |
60 | Building | NIL | Certificate issued by Nigerian Institute of Builders | |
61 | Tourism, Hotels, Restaurants | NIL | Approval in principle from Nigeria Tourism Development Board (suspended) | |
62 | University | NIL | NIL | Approval in principle from Nigeria University Commission. (NUC) |
63 | Other Tertiary Institutions | NIL | National Minimum Standard & Establishment of Institutes Act Cap E3 L.F.N 2004 | Approval in principle from the relevant body |
64 | Forex trading | NIL | NIL | NIL |
65 | Mortgage | N100M | NIL | NIL |
66 | Financial Commodities | N40M | NIL | NIL |
67 | College of Education | NIL | Approval in principle from NCCE |
This list will be continuously updated as new requirements are laid down.
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