Corporate Affairs Commission, Nigeria

The Corporate Affairs Commission (CAC) of Nigeria was established in 1990 vide Companies and Allied Matters Act no 1 (CAMA) 1990[1] as amended, now on Act cap C20 Laws of Federation of Nigeria.

[2] Its establishment, structure, and funding are now governed by the Companies and Allied Matters Act 2020[3] It is an autonomous body charged with the responsibility to regulate the formation and management of companies in Nigeria.

Prior to the enactment of CAMA, these activities were carried on under the Companies Act 1968.

(CA 1948)[4] The commission is made up of 10 members each representing the respective stakeholders, the board members are: Corporate Affairs Commission (CAC) Services are classified into segments: PART A - Registry PART B - Registration of Business Names PART C - Registration of Incorporated Trustees (NGO’s) These classifications above cover the following services: Four (4) types of companies are recognized for business ventures in Nigeria, namely: The minimum membership for each of these companies is two except for Private Limited Company which is one, and the maximum for private companies is fifty members while there is no upper limit for public companies.

A minimum share capital of ten thousand Naira is prescribed for private companies and five hundred thousand Naira for public companies with a minimum subscription of 25% of the shares.