Last time, I walked you through the first step in the company registration process: name availability search. This time, I went back to the CAC to check on the outcome. My choices were:

Unfortunately, my preferred choice was either unavailable or the CAC made a tiny mistake. Instead, of my preferred choice, I was awarded with “Legal Form Limited”. Basically, the same thing, but without an “s”. For now, it’s close enough.

Now that you’ve got an approved company name, you will use that information to complete the LLC Set of Forms. Your name will only be reserved for 60 days. So you must act fast!

Completing the Set of Forms takes a lot more time time than a name search and cannot be completed in just 1 day. It requires a lot more running about town, which can be impossible for those of us who work a 9-5 job. (Before this is over, you’ll have to go to the FIRS and a State/ Federal High Court) The Set of Forms costs 500 naira. Again, what you’re really paying for is the stamp. There are two ways to obtain this stamp:

Option A: Pay at the bank. Obtain your receipt. Collect your pre-stamped forms from the CAC.

Option B: Complete the forms online. Print. Pay online when Remita platform is working. Obtain the stamp that same day.

I know neither option sounds very appealing. But remember that Remita can be unreliable as a payment platform. So, ask yourself  “where would I rather be when the platform fails me?”

Option A: At the bank.

Option B: At home/work. But now I’ve got to obtain the stamp the same day, or I lose my payment.

There is a third option.

Option C: Hire an awesome company to take care of all the wahala for you. (Wink wink)

Whatever you choose, we’re here to support you. We know filling out these forms can be very confusing, so we’ve included some awesome tips below. It’s only fair that you let the good people of Facebook and Twitter know about this awesomeness. After all, friends don’t let friends make mistakes! So click “share” now. I’ll wait. Done? Okay now I grant you permission to read the awesome tips below.

Statement of Share Capital and Return of Allotment(CAC 2)

Only fields A, B, and C are required. so we won’t cover fields D,E,F. Make a photocopy because you will submit two copies of the CAC 2 form.

(A) Number of shares allotted payable in cash

(B) Nominal amount of shares so allotted

(C) Amount paid or due and payable on each share

Particulars of the Company Secretary(CAC 2.1)

Anyone can serve as company secretary, even a director. However, if you consider yourself the primary director, then I strongly advise serving as company secretary. Also, the company secretary must be appointed by a director. Please note that a person cannot appoint themselves as the company secretary. Many people make this mistake.

Make a photocopy of CAC 2.1 and submit two copies to the Corporate Affairs Commission.

Notice of Situation / Change of Registered Address(CAC 3)

This form is straightforward. It must be signed by a director and the company secretary.

Declaration of Compliance (CAC 4)    

This form is a bit more confusing. At first glance it would seem that only a solicitor can fill out this form, but that is not so. Anyone can declare the oath. The declaration must be sworn before a notary public or at a court of law (Magistrate Court, State High Court, Federal High Court). The courts are more affordable than the notary public.

Particulars of Directors(CAC 7)

This form is straightforward. It requires some biodata and signatures from all the company directors. Valid forms of identification are:

No other forms of identification are valid. Submit two copies of Particulars of Persons Who Are First Directors of a Company (CAC 7) to the CAC.

Memorandum of Association and Articles of Association

Seek assistance when drafting your company's objectives. It’s advisable to make the company objectives as diverse and extensive as possible. For example, if you want to register your catering company, you might want to include ecommerce and logistics in case you decide to sell your services online. The more objectives the better! There is no penalty for including too many objectives. So go ahead and include oil & gas servicing if you want. I know I did! Make 3 copies of this document and bind them separately.

Once the LLC set of forms are completed, you need to obtain the Stamp Duty from the FIRS.

If you found this article useful, “like it”, “share it”, and “tweet it”. Ask me a question in the comments below, or email me at support@legalforms.ng