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How the CAC annual return fee follows share capital

CAC annual return fee by share capital: the 2025 schedule sets four fee bands, from the smallest companies to the largest.

2 min readBy the Docufy editorial team

Quick answer

Since 1 Oct 2025, a company's CAC annual return fee follows its issued share capital. The lowest band pays ₦5,000, rising through two further bands to ₦200,000 for the largest companies. A company limited by guarantee pays a flat ₦10,000 instead.

Lowest band fee
₦5,000
Second band fee
₦100,000
Third band fee
₦150,000
Top band fee
₦200,000
Guarantee company fee
₦10,000
On this page

Two companies that look alike on paper, same number of directors, same kind of business, can pay different fees for exactly the same filing. The difference is share capital, not size.

Why the fee follows share capital, not a size label

Official Gazette No. 92 of 29 May 2025 sets the annual return fee for a company limited by shares against its issued share capital, not against whether it counts as "small" or "other private" for penalty purposes. Those penalty labels matter elsewhere. They do not decide this fee.

The schedule has applied since 1 Oct 2025, after two postponements while CAC stabilised its new registration portal.

The four bands

There are four bands, and the fee rises as issued share capital rises:

  • The lowest band, where most small and private companies sit, pays ₦5,000.
  • The next band up pays ₦100,000.
  • The band above that pays ₦150,000.
  • The top band, for the largest issued share capital, pays ₦200,000.

Each band is a single flat fee, not a percentage. A company just inside a band pays the same as one sitting at the very top of it. Crossing into the next band only happens once the company raises its issued share capital.

Where a guarantee company fits instead

A company limited by guarantee has no shares to measure, so it never sits in any of the four bands. It pays a flat ₦10,000 instead, whatever the size of the organisation behind it.

This is the fee most NGOs and foundations structured as companies limited by guarantee, rather than incorporated trustees, actually pay. See the annual return for a company limited by guarantee for how the rest of its filing works.

Why two similar-looking companies can pay different fees

A company with a large issued share capital but few staff can land in a higher band than a company with many staff and a modest share capital. The fee tracks the figure on the incorporation documents, not the size of the operation.

This surprises founders who set a large authorised or issued share capital early, then find their annual filing costs more each year as a result. It is one more reason to think through share capital at incorporation, not only at the point of raising funds.

Where to confirm your own band

Check the company's own incorporation documents for its issued share capital before assuming a band. The CAC annual return cost guide sets these fees alongside the late-filing penalties, which follow a different classification entirely.

Once you know your fee, you can start your CAC annual return and see the running total before you pay. For the maths on late years, the penalty calculator handles the arithmetic once your band is confirmed.

Questions people ask

Is the annual return fee the same as the late-filing penalty?

No. The fee here is what every company pays to file on time. A late return adds a separate one-off penalty on top, covered in our penalty calculation guide.

Which band do most small and private companies fall into?

Most sit in the lowest band, paying ₦5,000, since most private companies keep their issued share capital modest.

What if I don't know my company's issued share capital?

It is on the company's incorporation documents and its filing history. Confirm it before relying on any band, since guessing can under- or overstate the fee.

Does a company limited by guarantee use the same bands?

No. A company limited by guarantee pays a flat ₦10,000, regardless of share capital, since it has none. See the guarantee company annual return for the rest of its rules.

Sources

Last checked 27 Sep 2026. Fees and rules change; the agency that issues the document has the final word. See our editorial policy.

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