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Restrictions on company names in Nigeria

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Companies cannot be registered (except with the consent of the commission) with a name that includes the words:



Chamber of Commerce (unless limited by guarantee), Federal , National, Regional, State, Government, Group, Holding, Co-operative, Building Society, Municipal, Chartered or any other word which in the opinion of the commission suggests or is calculated to suggest that it enjoys the patronage of the government of the federation or a state.



• The registered office of the company shall be situated in Nigeria.



• The nature of the business of business which the company is authorized to carry on or if the company is not formed to carry on a business, then the nature of the objects or objects for which it is established.



• The restrictions if any on the powers of the company.



• If the company is a private or public company.



• If the liability of the members is limited by share or by guarantee or is unlimited. If a company has a share capital, the memorandum of association shall state the amount of authorized capital, not less than N10,000 for a private company and not less than N500,000 for public company.



• The subscribers to the memorandum shall take share amongst themselves not less than 25% of the authorized share capital.



• The memorandum shall be stamped as a deed.



•If a company is limited by guarantee, then its memorandum shall also state that, "The income and property of the company shall be applied solely towards the promotion of its objectives and no portion shall be paid or transferred (directly or indirectly) to the members of the company except as permitted by the decree."







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