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   Information Center Nigeria
Nigeria General Information
Nigeria Expatriates Handbook
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Nigeria Business Matters
Nigeria Business
Taxation in Nigeria
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Doing Business in Nigeria

A business may be conducted by individuals, partnerships or public and private limited liability companies. The names of public companies have the designation "Plc" added to them.

Limited liability companies are governed by the Companies and Allied Matters Decree, 1990.

A private company is required to have a minimum of two Directors and two Shareholders, while a public company is required to have a minimum of seven Directors and a minimum of seven Shareholders except when the shares are quoted on the Stock Exchange when the minimum number of Shareholders should be 50.

For any expatriate investor doing business in Nigeria, a Nigerian limited liability company must be incorporated and approval must have been obtained from appropriate Government Authorities to establish such a business.

Where a wholly owned company is to be formed by an expatriate investor, a minimum capital requirement of between N2 million and N20 million is required depending on the type of business to be established.

A business permit on the investment must be obtained before the establishment of the company. A certificate of capital importation must also be obtained as evidence of foreign capital importation.

Where a certificate of capital importation is obtained on a foreign investment, dividends and the proceeds from the sale of an investment can be repatriated.

All limited liability companies are required to be audited and they must lodge their annual financial statements with the Corporate Affairs Commission.





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