Under Section 18(2) of the Companies and Allied Matters Act (CAMA) 2020, what is the minimum number of persons required to form a private limited company in Nigeria?
A1 personCORRECT
B2 persons
C7 persons
D50 persons
ICANBusiness LawCompany Law under CAMA 2020: Incorporation2024
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Why the answer is A, and why the others tempt you.
Section 18(2) of CAMA 2020 introduced a major reform allowing one person to form and incorporate a private company. This departed from the provisions of the repealed CAMA 1990, which required a minimum of two persons.
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