Key facts
Key facts for business in Nigeria
The short answer
Company registry in Nigeria: Corporate Affairs Commission (CAC). Tax authority: Nigeria Revenue Service (NRS). Requirements, fees and timelines change – confirm them with the body concerned and a lawyer admitted in Nigeria before you act.
| Legal system | Mixed (English common law, Islamic (Sharia) law in northern states, and customary law) |
|---|---|
| Official languages | English |
| Currency | Nigerian naira (NGN) |
| Regional blocs | ECOWAS |
| OHADA business law | No |
| AfCFTA (continental free trade) | Ratified (instrument deposited) |
| New York Convention (arbitral awards) | Party – in force since 1970 |
| ICSID Convention (investment disputes) | Contracting state – in force since 1966 |
| Apostille Convention (public documents) | Not a party – documents usually need legalization |
Treaty status from the official depositary records (UNCITRAL, ICSID, HCCH), regional blocs from their own websites, AfCFTA from tralac – checked October 2026. Not legal advice.
Official bodies
Who does what in Nigeria
| What for | Official body | Website |
|---|---|---|
| Registering a company | Corporate Affairs Commission (CAC) | cac.gov.ng |
| Investment promotion | Nigerian Investment Promotion Commission (NIPC) | nipc.gov.ng |
| Tax | Nigeria Revenue Service (NRS) | nrs.gov.ng |
| Central bank, currency and foreign exchange | Central Bank of Nigeria (CBN) | cbn.gov.ng |
| Work and residence permits | Nigeria Immigration Service (NIS) | immigration.gov.ng |
| Courts and justice | Supreme Court of Nigeria | supremecourt.gov.ng |
Each link was opened and checked as the body’s own website in October 2026. Links to official sites only – never to agents or look-alike sites.
Getting started
What foreign businesses usually sort out first
- Choose how you will operate. A subsidiary, a branch, a representative office, or working through a local partner or distributor. The options and their conditions are set by national company law.
- Register the business. Company registration: Corporate Affairs Commission (CAC).
- Register for tax. Tax registration: Nigeria Revenue Service (NRS).
- Check investment rules and incentives. Some sectors have licensing, local-ownership or registration rules, and some investors qualify for incentives. Investment agency: Nigerian Investment Promotion Commission (NIPC).
- Permits for foreign staff. Work and residence permits: Nigeria Immigration Service (NIS).
- Banking and foreign exchange. Rules on accounts, moving money in and out and paying dividends abroad come from the central bank (Central Bank of Nigeria (CBN)) and the banks.
- Contracts and disputes. Agree the governing law, the courts or arbitration seat, and the language. Nigeria is a party to the New York Convention, so arbitral awards made in other member states can be recognized there under it.
A general checklist, not legal advice. What applies to you depends on your sector, structure and nationality.
Law firms
Law firms in Nigeria for business matters
Abdulai Taiwo & Co
Lagos, Abuja
Adeola Oyinlade & Co
Lagos, Ado-Ekiti
Advocaat Law Practice
Lagos, Abuja, Calabar
Afe Babalola & Co
Ibadan, Lagos, Abuja, Port Harcourt
Aina Blankson
Lagos
Ajumogobia & Okeke
Lagos, Abuja, Port Harcourt
Ajunwa & Co
Abuja
Alliance Law Firm
Lagos, Abuja, Port Harcourt
Babalakin & Co
Lagos, Abuja, Port Harcourt
Banwo & Ighodalo
Lagos, Abuja, Port Harcourt
Bloomfield Law Practice
Lagos
Detail Commercial Solicitors
Lagos
33 firms in Nigeria list corporate, tax, employment or other business work on their own websites – the first 12 are shown A to Z. See every firm in Nigeria.
Checking a lawyer in Nigeria
Who admits lawyers: Body of Benchers (call to the Bar) and the Supreme Court of Nigeria (Roll of legal practitioners), with the Nigerian Bar Association (practising fees, discipline)
Professional title: Barrister and Solicitor of the Supreme Court of Nigeria
Official roll: nigerianbar.org.ng
Use the NBA's 'Find a Lawyer' search on nigerianbar.org.ng and ask for the lawyer's Supreme Court enrolment number and current NBA stamp/seal.
We could not confirm every detail from official sources, so use this as a starting point.
Sources: nigerianbar.org.ng, nigerianbar.org.ng. Checked October 2026. Not legal advice.
Questions
Doing business in Nigeria: questions
Where do you register a company in Nigeria?
With Corporate Affairs Commission (CAC) (cac.gov.ng). Requirements change, so confirm them with the registry and a lawyer admitted in Nigeria.
Is Nigeria a party to the New York Convention?
Yes – in force since 1970 (UNCITRAL status table, checked October 2026).
Does Nigeria accept apostilles?
Nigeria is not a party to the Apostille Convention (HCCH status table, checked October 2026), so foreign public documents usually need legalization – typically through the issuing country’s foreign ministry and Nigeria’s embassy or consulate. Confirm with the authority that will receive the document.
What currency is used in Nigeria?
Nigerian naira (NGN).