CAC Registration · 6 min read
Share Capital & Allotment in a Nigerian LTD - Explained Simply
Authorised shares, allotted shares, share capital, percentage ownership - here's what each term actually means and what to put on your CAC form.
When you register an LTD, CAC asks for share capital and allotment details. Most founders guess - and pay for it later. Here's the simple version.
Authorised vs allotted shares
Authorised share capital = the maximum shares the company is allowed to issue. Allotted = how many of those shares are actually given to shareholders at incorporation. You can authorise 1,000,000 shares and only allot 100,000 on day one.
Minimum share capital in 2026
Most private LTDs start at ₦100,000 minimum share capital. Some regulated sectors (BDC, microfinance, NAFDAC-related, NEPC export, recruitment, security) require much higher - sometimes ₦10 million or more. Always confirm sector rules with an AMG agent.
How allotment decides ownership
Ownership % = your allotted shares ÷ total allotted shares. If two founders allot 60,000 and 40,000 of 100,000 shares, ownership is 60/40. Get this wrong and future disputes are guaranteed.
Range only - exact CAC fees on higher share capital scale up. Speak to AMG before filing to model the cheapest legal structure.