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Corporate Law Preview 8 min read

Share Capital Threshold for Companies

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Minimum Share Capital Requirements

Prescribed Minimum Share Capital for Designated Companies

Type of Company: Minimum Share Capital (₦)

  1. Issuing House: ₦200 Million
  1. Broker/Dealer: ₦300million
  1. Trustee: ₦300 Million
  1. Fund/Portfolio Manager: ₦150 Million
  1. Stock Broker: ₦200 Million
  1. Stock Dealer: ₦100 Million
  1. Corporate Investment Adviser (Registrar): ₦150 Million
  1. Corporate Investment Adviser: ₦5 Million
  1. Individual Investment Adviser: ₦2 Million
  1. Market Maker: ₦2 Billion
  1. Consultant (Partnership): ₦2 Million
  1. Consultant (Individual): ₦500,000
  1. Consultant (Corporate): ₦5 Million
  1. Underwriter: ₦200 Million
  1. Venture Capital Manager: ₦20 Million
  1. Commodities Broker: ₦40 Million
  1. Capital Trade Point: ₦20 Million
  1. Rating Agency: ₦150 Million
  1. Corporate/Sub Broker: ₦5 Million
  1. Commercial Bank with Regional Authorization: ₦10 Billion
  1. Commercial Bank with National Authorization: ₦25 Billion
  1. Commercial Bank with International Authorization: ₦50 Billion
  1. Merchant Bank: ₦15 Billion
  1. Micro Finance Bank (Unit): ₦20 Million
  1. Micro Finance Bank (State & FCT): ₦100 Million
  1. Micro Finance Bank (National): ₦2 Billion
  1. Primary Mortgage Institution: ₦2 Billion
  1. Finance Company: ₦20 Million
  1. Bureau De Change: ₦35 Million
  1. Non Interest Bank (Regional): ₦5 Billion
  1. Non Interest Bank (National): ₦10 Billion
  1. Insurance Broker: ₦5 Million
  1. Life Insurance: ₦2 Billion
  1. General Insurance: ₦3 Billion
  1. Re-Insurance: ₦10 Billion
  1. Private Security Company/Consultant: ₦10 Million
  1. Pension Fund/Asset Custodian: ₦2 Billio
  1. Closed Pension Fund: ₦500 Million
  1. Pension Fund Administrator: ₦1 Billion
  1. Lottery: ₦5 Million
  1. Air Transport (International): ₦2 Billion
  1. Air Transport (Regional): ₦1 Billion
  1. Air Transport (Local): ₦500 Million
  1. Air, Ambulance/Fumigation/Private Jet: ₦20 Million
  1. Aviation (Ground Handling Services): ₦500 Million
  1. Aviation (Air Transport Training Institutions): ₦2 Million
  1. Agents of Foreign Airlines: ₦1 Million
  1. Agricultural Seeds, Productions, Processing, Marketing: ₦10 Million
  1. Shipping Company/Agent: ₦25 Million
  1. Cabotage Trade: ₦25 Million
  1. Life Micro-Insurance: ₦150 Million
  1. General Micro-Insurance: ₦200 Million
  1. Freigth Forwarding: ₦5 Million
  1. Microfinance Bank (Tier 1 Unit): ₦100 Million by April, 2020, ₦200 Million by April, 2021
  1. Microfinance Bank (Tier 2 Unit): ₦35 Million by April, 2020, ₦50 Million by April, 2021
  1. Microfinance Bank (State & FCT): ₦500 Million by April, 2020, ₦1 Billion by April, 2021
  1. Microfinance Bank (National): ₦3.5 Billion by April, 2020, ₦5 Billion by April, 2021
  1. Payment Service Bank: ₦5 Billion
  1. Life Insurance: ₦2 Billion Currently, ₦8 Billion by 31st December, 2020
  1. General Insurance: ₦3 Billion Currently, ₦10 Billion by 31st December, 2020
  1. Composite Insurance: ₦5 Billion Currently, ₦18 Billion by 31st December, 2020
  1. Re-Insurance: ₦10 Billion Currently, ₦20 Billion by 31st December, 2020

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