Corporate Affairs Commission: Minimum Share Capital Thresholds

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S/N TYPE OF COMPANY MINIMUM SHARE CAPITAL JUSTIFICATION
1. ISSUING HOUSE 200 Million Securities And Exchange Commission guidelines on new minimum share capital for Market Operators.
2. BROKERS/DEALERS 300 Million
3. TRUSTEES 300 Million
4. FUND/PORTFOLIO MANAGERS 150 Million
5. STOCK BROKERS 200 Million
6. STOCK DEALERS 100 million
7.  

INTER-DEALER BROKER (IDB)

50 Million
8. CORPORATE INVESTMENT ADVISER

( REGISTRAR)

150 Million
9. CORPORATE INVESTMENT ADVISER 5 Million
10. INDIVIDUAL INVESTMENT ADVISER 2 Million
11. MARKET MAKER 2 Billion
12. CONSULTANT PARTNERSHIP 2 Million
13. CONSULTANT INDIVIDUAL 500,000
14. CONSULTANT CORPORATE 5 Million
15. UNDER WRITER 200 Million
16. VENTURE CAPITAL MANAGER 20 Million
17.   updated 01/03/17 COMMODITIES EXCHANGE 500 Million
18. COMMODITIES BROKER 40 Million
19. CAPITAL TRADE POINT 20 Million
20. RATING AGENCY 150 Million
21. CORPORATE/SU BROKER      5 Million

 

22. COMMERCIAL BANK WITH REGIONAL AUTHORIZATION 10 Billion CBN Scope conditions and minimum Standards for Commercial Banks Regulations 2010.
23. COMMERCIAL BANKS WITH NATIONAL AUTHORIZATION 25 Billion
24. COMMERCIAL BANKS WITH INTERNATIONAL AUTHORIZATION 50 Billion
     
25.  

MERCHANT BANKS

 

15 Billion

CBN Scope, Condition and minimum Standard for Merchant Banks Regulation No 2, 2010.
26. MICRO FINANCE BANK (UNIT) 20 Million CBN Regulations
27. MICRO FINANCE BANK (STATE & FCT) 100 Million
28. MICRO FINANCE BANK (NATIONAL) 2 Billion
29. PRIMARY MORTGAGE INSTITUTIONS 2 Billion
30. FINANCE COMPANY 20 Million
31. BUREAU DE CHANGE 35 Million
32. NON INTEREST BANKS (REGIONAL) 5 Billion
33. NON INTEREST BANKS (NATIONAL) 10 Billion
34. INSURANCE BROKERS 5 Million NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS ACT, 2003
35.  

LIFE INSURANCE

 

2 Billion

Guidelines on Insurance Sector reform and Consolidation made.
36. GENERAL INSURANCE BUSINESS 3 Billion S. 9 (4) Insurance Act and Regulation 2003.
37.  

RE INSURANCE BUSINESS

 

10 Billion

Pursuant to S. 9(4) Insurance Act and Regulation 2003.

 

38. LIFE MICROINSURANCE BUSINESS 150 Million GUIDELINES FOR MICROINSURANCE OPERATIONS IN NIGERIA, NATIONAL INSURANCE COMMISSION, DECEMBER 2013.
39. GENERAL MICROINSURANCE BUSINESS 200 Million
40.    updated 22/11/16 GENERAL TAKAFUL/FAMILY TAKAFUL 200 Million National Insurance Commission (NAICOM) Registration

 

 

Requirement for Takaful Operators in Nigeria. March 2013

41.       

 

PRIVATE SECURITY COMPANY/CONSULTANT

 

 

 

10 Million

Guidelines on requirements for registration of Private Guard Security Companies made pursuant to Nigeria Security and Civil Defense Corp Act No. 2 of 2003.

 

42. PENSION FUND/ASSET CUSTODIANS 2 Billion Requirement for licensing of Pension Fund Custodians (FEB 2005).

 

S. 40 (2) (a) Pension Reform Act 2004.

43. CLOSED PENSION FUND 500 Million
44. PENSION FUND ADMINISTRATORS 1 Billion
45. HEALTH MAINTENANCE ORGANISATIONS (HMOs) (NATIONAL) 400 Million National Health Insurance Scheme, HMO Accreditation Guidelines
46. HEALTH MAINTENANCE ORGANISATIONS (HMOs) (ZONAL) 200Million
47. HEALTH MAINTENANCE ORGANISATIONS (HMOs) (STATE) 100 Million
48. LOTTERIES 5 Million S. 2 (1) National Lotteries (Amendment) Regulations, 2007

 

49.   updated 11/8/15 SPORT LOTTERY BUSINESSES 30 MILLION + AIP National Lottery Regulatory Commission
50. AIR TRANSPORT (INTERNATIONAL) 2 Billion  

 

 

 

 

Nigerian Civil Aviation Authority

 

 

 

 

 

 

Nigerian Civil Aviation Authority

 

51. AIR TRANSPORT (REGIONAL) 1 Billion
52. AIR TRANSPORT (LOCAL) 500 Million
53. AIR AMBULANCE/FUMIGATION/PRIVATE JET  

20 Million

54.   updated 02/11/15 AERIAL AVIATION SERVICES 20 Million
     
55.  

AVIATION (Ground Handling Services)

 

500 Million

56. AVIATION (AIR TRANSPORT TRAINING INSTITUTIONS) 2 Million
57. AGENTS OF FOREIGN AIRLINES 1 Million
58.  

AGRICULTURAL SEEDS, PRODUCTIONS, PROCESSING AND MARKETING

 

10 Million

 

NASA CAP 5. LFN 2004

59.  

SHIPPING COMPANY/AGENT

 

25 Million

NIMASA GUIDELINES FOR REGISTRATION.
60.  

CABOTAGE TRADE

 

25 Million

NIMASA GUIDELINES FOR REGISTRATION.
61. FREIGHT FORWARDING 5 MILLION (Registration of Freight forwarding) Regulation 2010.
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