The company is not to be formed with a share capital and its proposed objects are subject to the approval of the Attorney General and Minister of Justice of the Federation.

The same procedure and requirements under a private company limited by shares apply here with some additional requirements:

1. Application for the consent of the Registrar General (RG) of CAC and reservation of proposed name(s). The application is made online but requires the proposed name of company, objects and names and details of the promoters. It costs N5000 payable through the Remita platform.
2. Duly completed incorporation forms (online)
3. Payment of the registration fee (online)
4. Provision of e-signatures by directors/shareholders to be uploaded against their respective names.
5. Upload the following documents on the CRP:

i. E-signatures of directors/subscribers

ii. The means of identification of each director/subscriber

iii. Residence permit in case of resident foreigners

6. Upon approval by the CAC, the CAC will forward the proposed company’s Memart to the Attorney General for the Federation (AGF) for his consent to the incorporation.

7. The AGF is to grant authority to the promoters of the company within 30 days, where there are no objections to the Memart.

8. Where all valid documents are furnished by the promoters of the company and no decision has been made by the AGF within the 30-day period, the promoters may:

a. place an advertisement in three national daily newspapers, and

b. invite objections, if any, to the incorporation of the company.

9. Where there is no objection to the incorporation of the company within 28 days of the    publication, the CAC, if satisfied with the Memart, shall cause the application to be advertised, in the prescribed form, in three national daily newspapers.

10. In the absence of any objections, the CAC will assent to the application and register the company and issue a certificate of incorporation.