How to Open A Security Company in Nigeria

Opening a security company in Nigeria involves a thorough process of registration, licensing, and adherence to regulatory requirements. Here’s a comprehensive guide on how to establish a security company in Nigeria:

Step 1: Registration with the Corporate Affairs Commission (CAC)

1. Company Name Search: Before proceeding with registration, check for the availability of your desired company name using the CAC’s online name search tool.

2. Company Registration: Fill out Form CAC 2 (Company Registration Form) online, providing accurate details about the company, directors, and shareholders.

3. Memorandum and Articles of Association: Prepare and submit the Memorandum and Articles of Association, which outline the company’s objectives, rules, and regulations.

4. Filing Fees and Stamp Duty Payment: Pay the required filing fees to the CAC and stamp duty to the Federal Inland Revenue Service (FIRS).

5. Attachment of Supporting Documents: Attach all necessary supporting documents, including identification cards of directors and shareholders.

6. Electronic Signatures: Upload the electronic signatures of subscribers, directors, company secretary, and legal practitioner/agent.

Step 2: Obtaining a Private Security License from the Nigeria Security and Civil Defence Corps (NSCDC)

1. Application for Private Guard License: Submit an application for a private guard license addressed to the Commandant General of the NSCDC.

2. Company Registration Documents: Provide certified true copies (CTCs) of the Memorandum and Articles of Association, and photocopies of the certificate of incorporation.

3. Application Fee Payment: Pay the prescribed application fee of N500,000 (Five Hundred Thousand Naira).

4. Tax Clearance Certificate and Statement of Account: Submit a Tax Clearance Certificate and a statement of account from the company’s bank.

5. Letter from Legal Adviser and Auditor: Provide a letter from a legal adviser and an auditor.

6. Proposed Salary Structure: Submit the proposed salary structure for security personnel.

7. Veterinary Certificate (Optional): If using security animals, obtain a veterinary certificate.

Additional Requirements:

• Minimum Share Capital: The company must have a minimum authorized share capital of N10,000,000 (Ten Million Naira).

• Minimum Directors: There must be a minimum of three directors, with at least one being a retired military officer.

• Company Type: The company must be registered as a Limited Liability Company (Ltd) or Plc.

• NSCDC Approval and Inspection: Upon approval, the NSCDC will conduct an inspection of the company’s premises and facilities to ensure compliance with standards.

After completing these steps, you will have successfully established your security company in Nigeria and can begin operations. Remember to adhere to all regulatory requirements and maintain high standards of security services.