Share Capital Requirements
Mutually Beneficial Partnership For Growth
| SN | TYPE OF COMPANY | MINIMUM SHARE CAPITAL (N) | JUSTIFICATION |
|---|---|---|---|
| 1 | ISSUING HOUSE | 200 Million | |
| 2 | BROKER DEALER | 300 Million | |
| 3 | TRUSTEE | 300 Million | |
| 4 | FUND / PORTFOLIO MANAGER | 150 Million | |
| 5 | STOCK BROKER | 200 Million | |
| 6 | STOCK DEALER | 100 Milllion | |
| 7 | CORPORATE INVESTMENT ADVISER (REGISTRAR) | 150 Million | |
| 8 | CORPORATE INVESTMENT ADVISER | 5 Million | |
| 9 | INDIVIDUAL INVESTMENT ADVISER | 2 Million | Securities and Exchange Commission Guidelines on New Minimum Share Capital for Market Operators |
| 10 | MARKET MAKER | 2 Billion | |
| 11 | CONSULTANT (PARTNERSHIP) | 2 Million | |
| 12 | CONSULTANT (INDIVIDUAL) | 500,000 | |
| 13 | CONSULTANT (CORPORATE) | 5 Million | |
| 14 | UNDERWRITER | 200 Million | |
| 15 | VENTURE CAPITAL MANAGER | 20 Million | |
| 16 | COMMODITIES BROKERS | 40 Million | |
| 17 | CAPITAL TRADE POINT | 20 MIllion | |
| 18 | RATING AGENCY | 150 Million | |
| 19 | CORPORATE/SUB BROKER | 5 Million | |
| 20 | ASSET MANAGEMENT (INTANGIBLE ASSET) | 300 Million | |
| 21 | COMMERCIAL BANK WITH REGIONAL AUTHORIZATION | 10 Billion | CBN Scope and Standards Commercial Regulations 2020 |
| 22 | COMMERCIAL BANK WITH NATIONAL AUTHORIZATION | 25 Billion | |
| 23 | COMMERCIAL BANK WITH INTERNATIONAL AUTHORIZATION | 50Billion | |
| 24 | MERCHANT BANK | 15 Billion | CBN Scope, Condition and Minimum Standard for Merchant Banks Regulation2, 2010 |
| 25 | PAYMENT SOLUTION SERVICES (PSS) (As permissible under Super Agent, PTS and PSSP (combined)) | 250 Million | CBN Guidelines on licensing Framework/ Categorization for the Nigerian Payment System 2020 |
| 26 | SUPER AGENT (Agent Recruitment Management and other activities as specified in the Regulatory Framework for Licensing Super Agents in Nigeria | 50 Million | |
| 27 | PAYMENT TERMINAL SERVICE PROVIDER (PTSP) (POS Terminal Deployment and Services, POS Terminal Ownership, PTAD, Merchant/Agent Training and Support) | 100 Million | |
| 28 | PAYMENT SOLUTIONS SERVICE PROVIDER (PSSP) (Payment Processing Gateway and Portal, Payment Solution/Application Development, Merchant Service Aggregation and Collection) | 100 Million | |
| 29 | MOBILE MONEY OPERATION (E-Money Issuing, Wallet Creation and Management, Pool Account Management activities as permissible under Super Agent) | 2 Billion | |
| 30 | SWITCHING AND PROCESSING (Switching, Card Processing Transaction, Clearing and Settlement Agent Services, Non-bank Acquiring Services activities as permissible under Super Agent, PTSP and PSSP) | 2 Billion | CBN Regulation |
| 31 | UNIT MICRO FINANCE BANK (TIER 1) | Tier 1: 200 Million | |
| 32 | UNIT MICRO FINANCE BANK (TIER 2) | Tier 2: 50 Million | |
| 33 | MICRO FINANCE BANK (STATE & FCT) | 1 Billion | |
| 34 | MICRO FINANCE BANK (NATIONAL) | 5 Billion | |
| 35 | PRIMARY MORTGAGE INSTITUTION | 2 Billion | |
| 36 | FINANCE COMPANY | 20 Million | |
| 37 | BUREAU DE CHANGE | 35 Million | |
| 38 | NON-INTEREST BANK (REGIONAL) | 5 Billion | |
| 39 | NON INTEREST BANK (NATIONAL) | 10 Billion | Nigerian Council of Registered Insurance Brokers Act, 2003 |
| 40 | INSURANCE BROKER | 5 Billion | National Insurance Commission Revised Regulations 2019 |
| 41 | LIFE INSURANCE | 8 Billion | |
| 42 | GENERAL INSURANCE | 10 Billion | |
| 44 | RE-INSURANCE | 20 Billion | |
| 45 | UNIT MICROINSURER | 40 Million | Guidelines for Microinsurance Operation in Nigeria 2018 |
| 46 | STATE MICROINSURER | 100 Million | Guidelines for Microinsurance Operation in Nigeria 2018 |
| 47 | NATIONAL MICROINSURER | 600 Million | Guidelines for Microinsurance Operation in Nigeria 2018 |
| 48 | TAKAFUL INSURANCE (GENERAL AND FAMILY TAKAFUL) | 10 Million | National Insurance Commission Regulations |
| 49 | PRIVATE SECURITY COMPANY/CONSULTANT | 10 Million | Guideline on Requirements for Registration of Private Guard Security Companies made Pursuant to Nigerian Security and Civil Defence Corp Act No. 2 of 2003 |
| 50 | PENSION FUND/ASSET CUSTODIAN | 2 Billion | National Pensions Commission Requirements for Licensing of Pension Fund Custodians (FEB 2005); National Pensions Commission Revised Minimum Share Capital Requirement for Licensed Pension Fund Administrators (April 2021); |
| 51 | CLOSED PENSION FUND | 500 Million | |
| 52 | PENSION FUND ADMINISTRATOR | 5 Billion | |
| 53 | LOTTERY | 5 Million | Section 2 (1), National Lotteries (Amendment) Regulation, 2007 |
| 54 | SPORTS LOTTERY | 30 Million | National Lottery Commission Circular |
| 55 | AIR TRANSPORT (INTERNATIONAL) | 2 Billion | |
| 56 | AIR TRANSPORT (REGIONAL) | 1 Billion | |
| 57 | AIR TRANSPORT (LOCAL) | 500 Million | |
| 58 | AIR AMBULANCE/FUMIGATION/ PRIVATE JET | 20 Million | Nigerian Civil Aviation Authority |
| 59 | AVIATION (GROUND HANDLING SERVICES) | 500 Miilion | |
| 60 | AVIATION (GROUND HANDLING SERVICES) | 2 Million | |
| 61 | AGENTS OF FOREIGN AIRLINES | 1 Million | |
| 62 | TRAVEL/TOURS | 30 Million | International Air Travel Agency (IATA) |
| 63 | AGRICULTURAL SEEDS, PRODUCTIONS, PROCESSING, MARKETING | 10 Million | NASA Cap 5, LFN, 2004 |
| 64 | SHIPPING COMPANY/AGENT | 25 Million | NIMASA Guidelines for Registration |
| 65 | CABOTAGE TRADE | 25 Million | |
| 66 | LIFE MICRO-INSURANCE | 150 Million | Guideline for Micro-Finance Operations in Nigeria (NAICOM), December, 2013 |
| 67 | GENERAL MICRO-INSURANCE | 200 Million | Guideline for Micro-Finance Operations in Nigeria (NAICOM), December, 2013 |
| 68 | FREIGTH FORWARDING | 5 Million | Registration of Freight Forwarding Regulation 2010 |
| 69 | PAYMENT SERVICE BANK | 5 Billion | |
| 70 | HEALTH MAINTENANCE ORGANIZATION (HMO) (NATIONALY) | 400 Million (Paid up) | National Health Insurance Scheme HMO Accreditation Guidelines |
| 71 | HEALTH MAINTENANCE ORGANIZATION (HMO) (REGIONAL) | 200 Million (Paid up) | |