Unlike Private Companies, PLCs can sell shares on the stock market, allowing anyone to become a part-owner (shareholder) and fueling significant capital investment.

A Public Limited Company (PLC) in Nigeria is a business structure where owners can offer shares to the public through the stock market. This allows the company to raise capital from a broad investor base, aiding in growth and expansion. Shareholders, as part owners, participate in the company's operations and decisions, typically through voting rights at annual general meetings.

A PLC is managed by a Chief Executive Officer (CEO) and a board of directors, who oversee the company's activities and strategic direction. This structure contrasts with private limited companies, which rely on private investments and do not offer shares to the general public.

Becoming a PLC allows a company to raise significant capital through public share issuance, boosting resources for growth. However, PLCs must adhere to stricter regulations, including public disclosure of financial reports, ensuring transparency for investors.

We offer a comprehensive range of services to facilitate the registration of your PLC with the Corporate Affairs Commission (CAC) in Nigeria. With our assistance, you will have everything you need to successfully establish and grow your Public Limited Company.

Private Limited Company (LTD) Incorporation

Register Your Public Limited Company (PLC) in Nigeria

Here's how SplashDict's team of CAC-accredited consultants can help:

  • Business Name Search and Reservation: We'll check availability and reserve your desired name with the CAC.

  • Documentation Preparation: We assist in preparing all necessary documents for registration.

  • Submission and Processing: We ensure all requirements are met and manage the submission process for efficient processing by the CAC.

  • First Board Meeting Minutes: Your First Board Meeting Minutes will be produced for you; a legally required document detailing the first resolutions of your company.

  • Including CAC filing fee: Included in the price of all our packages. There are no hidden costs, what you see is what you get.

  • Tax Identification Number (TIN): We facilitate TIN acquisition From the FIRS.

  • Delivery of documents: Upon registration, we provide Documents including - the Certificate of Incorporation, Approved Memorandum & Articles of Association (MEMART), and Status Report.

  • Secure Digital Storage: Your documents are securely stored online for easy access without extra cost or waiting.

  • SCUMML Certificate: We obtain the Special Control Unit against Money Laundering certificate to ensure compliance.

  • Business Bank Account: We offer you a choice of up to 8 business bank or payment institution accounts, including popular ones like GTB, UBA, and First Bank.

  • Free Domain Name: To help establish your business online, we'll give you a free .com or .com.ng domain name for a year.

  • Company Register: All the statutory compliance that you must keep by law. It includes the register of directors, register of members and more.

  • Share Certificates: We’ll send you this legal document which certifies ownership within a limited company. 

  • VAT Registration: We'll prepare and submit your VAT registration application to FIRS.

  • PAYE Registration: Our experts will register your company for PAYE.

  • Unlimited Support: We’re here for our customers whenever you need; call, email, or chat with us and we’ll be happy to help.

Our Process

Make Payment Online

Add the package to the cart on the product page, then proceed to checkout and complete the secured online payment.

Tell us about your business

Come up with a name for your business and Answer a few questions. Our easy online form can be completed in just 5 minutes or less.

We'll process Application

Based on the information you provide, We will process and file the documents.

Receive your documents

Once your registration documents have been approved by the Corporate Affairs Commission (CAC), you will receive your completed business entity package by e-mail/mail.

Why choose SplashDict?

Fast

Register on our platform in 5 minutes - we'll then prepare and file all the necessary documents.

Efficiency

100% digital processes - ensuring smooth delivery, from anywhere, anytime.

Reliable

Founders can always rely on us to securely manage their confidential information—safe from any unauthorized and prying eyes.

Transparent pricing

No hidden fees, no bad surprises - helping you plan ahead.

Packages

Find the best package to start your Company:

Standard

₦50,000

  • Nigerian Private Company Limited by Shares Incorporation 
  • CAC Filling fees included. 
  • Digital delivery of Certificate of Incorporation
  • Digital delivery of approved Memorandum and Articles of Association
  • Digital delivery of Status Report
  • Tax Identification Number (TIN) inclusive
  • Digital Storage of Documents
  • Registered in 2-10 working days
  • Lifetime Support and Assistance

Premium

₦80,000

  • All included in the Standard Plan
  • 1-year Company Secretarial Support
  • Printed Company Documents (Certificate of Incorporation, Status Report, MEMART)
  • Digital and Printed Share Certificate(s)
  • First Board Meeting Minutes
  • Digital and Printed Company Registers with First Entries
  • VAT Registration
  • PAYE Registration
  • Company Seal
  • Nigerian Business Bank Accounts Setup (Optional)
  • Maintenance of Statutory Books
  • Free .com or .com.ng Domain Name
requirements

Requirements for Registering a Public Limited Company in Nigeria

To complete the incorporation of a Public Company Limited by Shares in Nigeria, you'll have to provide the following details upon Submission;

  • Proposed Company Names: At least two names for the company (primary and alternative).
  • Business Objectives: Clear description of the objectives and nature of the business.
  • Minimum Share Capital: N2 million, subject to industry-specific regulations, with at least 25% paid up.
  • Shareholders: Details of a minimum of two shareholders, no maximum limit.
  • Directors: Details of at least three directors, 18 years or older, including Nigerian citizens, not bankrupt.
  • Company Secretary's information: Must be a qualified legal practitioner, chartered secretary, or member of a recognized professional body.
  • Registered Office: A registered office address in Nigeria.
  • Memorandum and Articles of Association: Documents outlining objectives, nature of business, and internal regulations.
  • Prospectus: Detailed company information and intended share offering, filed with the CAC.

Features of a Public Limited Company (PLC)

How Does a Public Company Limited by Shares Work?

  • Separate Legal Entity: A PLC exists as a separate legal entity from its shareholders. This means the company has its debts and obligations, and shareholders' assets are generally protected (limited liability).

  • Limited Liability: Shareholders' liability is limited to the amount unpaid on their shares. The personal assets of shareholders are protected.

  • Ownership and Shareholders: There is no maximum limit on the number of shareholders. PLCs often have numerous shareholders, which can include individuals, institutions, and other entities.

  • Board of Directors: A board of directors, elected by shareholders, oversees the company's strategic direction and governance.

  • Minimum Share Capital: A minimum share capital of ₦2,000,000 naira (Two Million naira) is required for public limited company incorporation in Nigeria.

  • Shares: A public limited company can offer its shares to the public through an initial public offering (IPO) and subsequent trading on the Nigerian Stock Exchange. This allows for broader ownership and the potential to raise substantial capital.

  • MEMART: Both the memorandum of association and the articles of association (MEMART) are required for a company formed in Nigeria. 

  • Perpetual Existence: The company continues to exist even if the shareholders or directors change or die.

  • Suffix: Upon incorporation, a Public Limited Company must include a suffix; 'PLC' in its name.

  • Transparency and Disclosure: Required to disclose financial statements, annual reports, and other significant information to the public and regulatory authorities.

  • Financial Reporting: The PLC must maintain transparent financial records, which are audited annually. Financial statements are made available to shareholders and the public to ensure transparency.

  • Dividends and Profits: Profits earned by the company can be reinvested in the business or distributed to shareholders as dividends, based on the number of shares owned.

Benefits of Public Limited Company (PLC)

There are several advantages of operating a public company limited by shares in Nigeria, a few of which are illustrated below:

  • Limited Liability Protection: Shareholders' liability is limited to the value of their shares, protecting their assets from the company's debts and legal issues.

  • Access to Capital: A PLC can raise substantial funds from a wide pool of investors, including institutions and the public, by listing on a major stock exchange like the Nigerian Exchange Group.

  • Increased Prestige: Becoming a PLC enhances a company's reputation due to stricter regulatory requirements and transparency. This credibility can attract investors, customers, and business partners, projecting an image of stability and long-term growth.

  • Shareholder Liquidity: Shares of a PLC are easily transferable on stock exchanges, providing liquidity and flexibility for shareholders to buy, sell, or trade their shares based on market conditions.

  • Perpetual Existence: A PLC continues to exist regardless of changes in ownership or management, ensuring stability and continuity.

  • Better Access to Credit: PLCs often have better access to credit and can negotiate favorable loan terms due to their perceived stability and rigorous compliance with financial regulations.

  • Exit Strategy: Going public can enhance the options for the founders to exit the business at some point in the future if they wish to do so. Higher transferability of shares and the increased visibility of the company and its performance may increase the chances of bid interest from potential suitors.

Examples of Public Limited Companies (PLCs)

Here are some examples of categories where a Public Limited Company (PLC) by shares can be established:

- Technology and Innovation: Companies in software development, hardware manufacturing, and IT services.

- Healthcare and Pharmaceuticals: Businesses in drug manufacturing, biotechnology, and medical devices.

- Finance and Insurance: Institutions offering banking services, investment opportunities, and insurance products.

- Energy and Natural Resources: Enterprises involved in oil and gas exploration, renewable energy generation, and mining activities.

- Consumer Goods and Retail: Companies producing food and beverages, household products, and apparel and accessories.

Private Limited Company Formation Services

- Automotive and Transportation: Firms engaged in vehicle manufacturing, logistics and shipping services, and aerospace production.

- Telecommunications: Organizations providing mobile network services, internet connectivity, and cable or satellite broadcasting.

- Construction and Real Estate: Businesses involved in property development, construction services, and real estate management.

- Entertainment and Media: Companies in film production, broadcasting content, and publishing media.

- Hospitality and Tourism: Enterprises running hotels and resorts, offering travel agency services, and providing tourism-related services.

- Food and Beverage: Companies engaged in food processing, beverage production, and restaurant chains.

- Agriculture and Agribusiness: Businesses in farming, agricultural technology, and food supply chain management.

- Chemicals and Materials: Firms involved in chemical production, material sciences, and industrial manufacturing.

- Fashion and Textiles: Companies producing clothing, textiles, and fashion accessories.

- Education and Training: Institutions offering educational services, professional training programs, and online learning platforms.

Public Limited Company FAQs

You can find some of our most frequently asked questions below;

A PLC is a business structure where ownership is divided into shares that can be traded on the Nigerian Stock Exchange, now Nigerian Exchange Group. This allows the company to raise capital from the public for growth and expansion.

Key features of a PLC include limited liability for shareholders, the ability to offer shares to the public, regulatory requirements for transparency, and a board of directors overseeing the company's operations.

  • Access to Capital: Sell shares to a wider investor pool, raising significant funds for ambitious goals.
  • Enhanced Credibility: PLCs hold a prestigious image, attracting investors and fostering trust.
  • Limited Liability: Shareholders' personal assets are shielded from company debts beyond their investment.
  • Perpetual Existence: A PLC is not affected by shareholder death or withdrawal, ensuring business continuity.

A PLC can offer its shares to the public and must have at least two directors and a qualified company secretary. A private limited company (Ltd) cannot offer its shares to the public and has fewer regulatory requirements.

The registration process timeline varies depending on CAC and the efficiency of processing. This is the timeline:

  • Name Search and reservation: 6 - 24 hours from submission.
  • Grant of Certificate of Incorporation: 24 -96 Hours from filing.
  • Total time: Approximately 2 - 10 working days.