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Companies and Allied Matters Act 2020 · Part B · Chapter 1

Section 18 Right to form a company

(1)
As from the commencement of this Act, any two or more persons may form and incorporate a company by complying with the requirements of this Act in respect of registration of the company.
(2)
Notwithstanding subsection (1), one person may form and incorporate a private company by complying with the requirements of this Act in respect of private companies.
(3)
A company may not be formed or incorporated for an unlawful purpose.
Cite as: Companies and Allied Matters Act 2020, section 18

What this section means

From the guide: Who can form a company in Nigeria under CAMA 2020?

  • Any two or more people can form a company, and one person can form a private company (section 18).
  • Section 18(1) says any two or more persons may form and incorporate a company by meeting the registration requirements of the Act.
  • Section 18(2) adds that one person may form and incorporate a private company by meeting the requirements for private companies.
  • Under section 18(3), a company may not be formed or incorporated for an unlawful purpose.

Read the whole subject

Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.