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)