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Minimum Share Capital for Companies in Nigeria

Below is a comprehensive list of the minimum share capital of Companies. Before you register that Limited Liability Company, it is advisable to check out this list to avoid double expenses.

Minimum Share Capital is the least capital base of a company as required by the Law. The Share Capital of a company is the capital base of such company . It does not mean that the company must have such fund (share Capital) in their account it simply means that the liability of such company is limited to that share capital.

TYPE OF COMPANY MINIMUM SHARE CAPITAL (N) JUSTIFICATION
ISSUING HOUSE 200 Million Securities and Exchange Commission Guidelines on New Minimum Share Capital for Market Operators
BROKER/DEALER 300Million
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
CONSULTANT (PARTNERSHIP) 2 Million
CONSULTANT (INDIVIDUAL) 500,000
CONSULTANT (CORPORATE) 5 Million
UNDERWRITER 200 Million
VENTURE CAPITAL MANAGER 20 Million
COMMODITIES BROKER 40 Million
CAPITAL TRADE POINT 20 Million
RATING AGENCY 150 Million
CORPORATE/SUB BROKER 5 Million
ASSET MANAGEMENT (INTANGIBLE ASSETS) 300 Million
COMMERCIAL BANK WITH REGIONAL AUTHORIZATION 10 Billion CBN Scope and Standards Commercial Regulations 2020
COMMERCIAL BANK WITH NATIONAL AUTHORIZATION 25 Billion
COMMERCIAL BANK WITH INTERNATIONAL AUTHORIZATION 50 Billion
MERCHANT BANK 15 Billion CBN Scope, Condition and Minimum Standard for Merchant Banks Regulation 2, 2010
PAYMENT SOLUTION SERVICES (PSS) (As permissible under Super Agent, PTS and PSSP (combined)) 250 Million CBN Guidelines on licensing Framework/ Categorization for the Nigerian Payment System 2020
SUPER AGENT (Agent Recruitment Management and other activities as specified in the Regulatory Framework for Licensing Super Agents in Nigeria 50 Million
PAYMENT TERMINAL SERVICE PROVIDER (PTSP) (POS Terminal Deployment and Services, POS Terminal Ownership, PTAD, Merchant/Agent Training and Support) 100 Million
PAYMENT SOLUTIONS SERVICE PROVIDER (PSSP) (Payment Processing Gateway and Portal, Payment Solution/Application Development, Merchant Service Aggregation and Collection) 100 Million
MOBILE MONEY OPERATION (E-Money Issuing, Wallet Creation and Management, Pool Account Management activities as permissible under Super Agent) 2 Billion
SWITCHING AND PROCESSING (Switching, Card Processing Transaction, Clearing and Settlement Agent Services, Non-bank Acquiring Services activities as permissible under Super Agent, PTSP and PSSP) 2 Billion
UNIT MICRO FINANCE BANK (TIER 1) Tier 1: 200 Million CBN Regulations
UNIT MICRO FINANCE BANK (TIER 2) Tier 2: 50 Million
MICRO FINANCE BANK (STATE & FCT) 1 Billion
MICRO FINANCE BANK (NATIONAL) 5 Billion
PRIMARY MORTGAGE INSTITUTION 2 Billion
FINANCE COMPANY 20 Million
BUREAU DE CHANGE 35 Million
NON-INTEREST BANK (REGIONAL) 5 Billion
NON INTEREST BANK (NATIONAL) 10 Billion
INSURANCE BROKER 5 Million Nigerian Council of Registered Insurance Brokers Act, 2003
LIFE INSURANCE 8 Billion National Insurance Commission Revised Regulations 2019
GENERAL INSURANCE 10 Billion
COMPOSITE INSURANCE 18 Billion
GENERAL INSURANCE 10 Billion
COMPOSITE INSURANCE 18 Billion
RE-INSURANCE 20 Billion
UNIT MICROINSURER 40 Million Guidelines for Micro-insurance Operation in Nigeria 2018
STATE MICROINSURER 100 Million Guidelines for Microinsurance Operation in Nigeria 2018
NATIONAL MICROINSURER 600 Million Guidelines for Microinsurance Operation in Nigeria 2018
TAKAFUL INSURANCE (GENERAL AND FAMILY TAKAFUL) 200 Million National Insurance Commission Regulations
PRIVATE SECURITY COMPANY/CONSULTANT 10 Million Guideline on Requirements for Registration of Private Guard Security Companies made Pursuant to Nigerian Security and Civil Defence Corp Act No. 2 of 2003
PENSION FUND/ASSET CUSTODIAN 2 Billion National Pensions Commission Requirements for Licensing of Pension Fund Custodians (FEB 2005); National Pensions Commission Revised Minimum Share Capital Requirement for Licensed Pension Fund Administrators (April 2021);
CLOSED PENSION FUND 500 Million
PENSION FUND ADMINISTRATOR 5 Billion
LOTTERY 5 Million Section 2 (1), National Lotteries (Amendment) Regulation, 2007
SPORTS LOTTERY 30 Million National Lottery Commission Circular
AIR TRANSPORT (INTERNATIONAL) 2 Billion Nigerian Civil Aviation Authority
AIR TRANSPORT (REGIONAL) 1 Billion
AIR TRANSPORT (LOCAL) 500 Million
AIR AMBULANCE/FUMIGATION/ PRIVATE JET 20 Million
AVIATION (GROUND HANDLING SERVICES) 500 Million
AVIATION (AIR TRANSPORT TRAINING INSTITUTIONS) 2 Million
AGENTS OF FOREIGN AIRLINES 1 Million
TRAVEL/TOURS 30 Million International Air Travel Agency (IATA)
AGRICULTURAL SEEDS, PRODUCTIONS, PROCESSING, MARKETING 10 Million NASA Cap 5, LFN, 2004
SHIPPING COMPANY/AGENT 25 Million NIMASA Guidelines for Registration
CABOTAGE TRADE 25 Million
LIFE MICRO-INSURANCE 150 Million Guideline for Micro-Finance Operations in Nigeria (NAICOM), December, 2013
GENERAL MICRO-INSURANCE 200 Million Guideline for Micro-Finance Operations in Nigeria (NAICOM), December, 2013
FREIGTH FORWARDING 5 Million Registration of Freight Forwarding Regulation 2010
PAYMENT SERVICE BANK 5 Billion
HEALTH MAINTENANCE ORGANIZATION (HMO)(NATIONAL) 400 Million (Paid up) National Health Insurance Scheme HMO Accreditation Guidelines
HEALTH MAINTENANCE ORGANIZATION (HMO)(REGIONAL) 200 Million(Paid up)
HEALTH MAINTENANCE ORGANIZATION (HMO)(STATE) 100 Million (Paid up)

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