In light of the recent implementation of the Corporate Affairs Commission (CAC) E-Status Report by the commission, replacing the traditional CAC forms issued upon the registration or incorporation of all entities, the prerequisites for ship registration have undergone a significant reduction of nearly 40%.
Henceforth, applicants will only need to submit five documents instead of the previous requirement of eight documents.Â
| S/N | SERVICE | FEE / CHARGE | REQUIREMENT / | PROCESS | TIME LINE |
| OLD SLA | |||||
| 1 |
Registration of Shipping Companies / Agents
Application fee Annual renewal fee |
N 110,000 N 15,000 |
   i.  CTC of CAC7   ii.  CTC of CAC2 iii.  Completed NIMASA form B1 iv.  Original Bank reference letter v.  Payment receipt of N 110k  vi.  Certificate of incorporation vii.  Memo and Articles of Association with share capital of not less than 25million viii.   Financial statement/ audited account |
i.        Write and application letter with required documents attached ii.     Submit in Legal Services Unit iii.     Pay application fees iv.     Collect registration certificate
|
5 Days |
| NEW SLA | |||||
| 1 |
Registration of Shipping Companies / Agents
Application fee Annual renewal fee |
N 110,000 N 15,000 |
    i.  CAC e-Status Report ii.  Completed NIMASA form B1 iii.  Original Bank reference letter iv.  Payment receipt of N 110k v.  Financial statement/ audited account |
i.        Write and application letter with required documents attached ii.     Submit in Legal Services Unit iii.     Pay application fees iv.     Collect registration certificate
|
5 Days |