Formation of Company
Section 18 explains who can form a company - two or more persons, or just one person for a sole proprietorship company.
Understanding the steps, requirements, and legal framework for incorporating a private or public limited company with the Corporate Affairs Commission (CAC).
Section 18 explains who can form a company - two or more persons, or just one person for a sole proprietorship company.
Section 27 covers the registration process - submit memorandum and articles to CAC, receive certificate within a day.
Section 28 explains what registration means - your company becomes a separate legal entity that can sue, own property, and contract.
Section 40 sets minimum share capital requirements: ₦100,000 for private companies, ₦2,000,000 for public companies.
Section 86 describes small company benefits - if you qualify, you may not need an auditor and can use simplified accounts.
Section 43 guarantees your right to own property, which includes ownership of business assets through your company.