Registering A Company In Nigeria (for Your Information)

Many people have emailed me from Nairaland asking for the differences in types of company registrations.  I just want to put this here for their help.

Share capital actually refers to the size of the company you want to register.  It also enables other people to buy into your company when it has become very big (you must have heard of sales of shares by banks and other companies like Dangote).  You can either register a Business name, which does not involve share capital or register a Limited Liability Company (Nigeria Limited), or Public Limited Company (Plc), which means plenty of money, or a Church or a Non-governmental Organisation etc.
 
A company with just Business name registration, can not do much.  There is a limit to the amount of money that can be committed by any organisation, bank or company to your trust.  Banks might not even want to give you a loan.  On the other hand, a Nigeria limited Company (i.e XYZ Nig Ltd for example), can do business anywhere and can easily be granted loans under the right conditions.  Now the Nigeria Limited company option is also graded in terms of share capital.  The larger the volume of share capital, the more responsibility the business can handle.  Share capital can also be increased at any time after the company has been registered.
 
You can register 100,000 shares, or 1 million shares or 2 million shares if you want to run an Airline ticketing and reservation company.

If you need help in registering a company, you can call me on 07084267514 or email me at augustineosagie@gmail.com.

Please do not register a company for the purpose of scam

Do you know anything about Companies Limited by Guarantee