The verdict in three sentences
In Nigeria, registering a limited company through the CAC online portal now takes 1 to 3 business days for roughly NGN 10,000-30,000 in fees, with no meaningful minimum capital for a private company. You come away with your certificate of incorporation and a TIN (tax identification number) linked to your entity. The real challenge is not the paperwork but what comes next: opening a bank account, accepting online payments, and finding your first customers.
Cost and timeline
The CAC portal handles name reservation, incorporation, and tax registration in one flow. Figures below are a 2026 order of magnitude for a small private company in Lagos.
| Item | 2026 amount (estimate) | Timeline |
|---|---|---|
| Name reservation | ~NGN 500 | Same day |
| Business name registration | ~NGN 10,000 | 1-2 days |
| Private limited company | ~NGN 15,000-30,000 | 1-3 days |
| TIN issuance | Free | Auto with registration |
| Minimum share capital | Nominal (no real floor) | — |
| Base formality total | ~NGN 10,000-30,000 | 1-3 days |
A business name is cheaper and faster, but it offers none of the personal-asset protection a limited company provides.
Steps and documents
The path is linear when the file is complete. Most delays come from missing details.
| Step | What to provide | Result |
|---|---|---|
| 1. Name reservation | Proposed names, object | Approved name |
| 2. Incorporation form | Directors, shares, address | Filed |
| 3. IDs & consent | Valid ID, director consent | Verified |
| 4. Certificate | Automatic on approval | Incorporation issued |
| 5. Tax registration | Auto via portal | TIN issued |
Practical tip: prepare a verifiable business address and a clear object clause that includes online sales, so you don't have to amend it later.
Become a Kolonell referral partner
Many new founders register their company, then look for a website, an online store, or a marketplace. If you guide these founders, the Kolonell referral (apporteur d'affaires) program turns those introductions into income.
| Referred project type | Sale commission | Recurring |
|---|---|---|
| Showcase website | 15% | + 5% on maintenance/subscription |
| E-commerce | 12% | — |
| Marketplace | 10% | — |
| Institutional | 8% | — |
Concretely, a showcase site at NGN 800,000 earns you NGN 120,000, plus 5% recurring on maintenance. You simply introduce the client: we handle quote, build, and delivery.
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Mini case study
Chidi, a consultant in Lagos, wants to launch a natural cosmetics store. He registers his limited company via CAC in 3 days for NGN 25,000 in fees and nominal capital. He receives his certificate and TIN in the same flow. He then refers two trader friends to Kolonell: the first orders a showcase site at NGN 800,000 (NGN 120,000 commission), the second an e-commerce store at NGN 1,800,000 (NGN 216,000 commission). In one month, Chidi built his company and earned NGN 336,000 purely from referrals.
FAQ
Is there a minimum capital for a Nigerian private company?
Not in practical terms. You can register with a nominal share capital. Keep real working capital, though, to actually operate.
What's the difference between a business name and a limited company?
A business name is a sole proprietorship or partnership registration; a limited company is a separate legal entity with liability protection. For an online business handling payments, a limited company is safer.
What is a TIN and do I get it automatically?
The TIN is your tax identification number. It is issued in the same flow as incorporation on the CAC portal, so you don't file separately.
How soon can I invoice?
As soon as you have your certificate of incorporation and TIN, typically within 1-3 days. You can then open a corporate account and issue compliant invoices.
Can I earn by referring other founders?
Yes, via the Kolonell referral program: 15% on a showcase site (plus 5% recurring), 12% on e-commerce, 10% on marketplace, 8% on institutional.
Let's talk about your project. Register your company, then let's launch your website or online store, and learn how to become a referral partner. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
