Incorporated trustees is not the only CAC structure open to a non-profit body. A company limited by guarantee is the other option. The two are easy to confuse.
How the two structures are governed
Incorporated trustees are governed by trustees. They are appointed under the organisation's constitution. This is the structure most churches, mosques and community associations use.
A company limited by guarantee is registered as a company instead. It has members, not shareholders. Each member promises a fixed sum towards the company's debts if it winds up, rather than holding shares.
Both sit within Companies and Allied Matters Act 2020 (CAMA 2020). They sit in different parts of the Act, though, each with its own governance rules.
What each costs to reserve a name
Incorporated trustees pay ₦5,000 to reserve a name. A guarantee company reserves its name the way any company does, for ₦1,000.
That gap is the clearest fee difference between the two structures at the reservation stage, well before either one is actually registered. Budget for it early, since a name reservation is not optional for either structure.
What each costs to register
Registration itself is where the two currently line up. Incorporated trustees pay ₦40,000. A guarantee company pays ₦40,000, the same figure under CAC's current schedule.
That was not always true. The two fees differed under the older Companies Regulations 2021 schedule. Check the current schedule rather than an older guide if you are comparing costs today.
The ongoing filings each one owes
Both structures file an annual return every year. Neither uses the same form or the same schedule as the other. See incorporated trustees: CAC annual return and fee and annual return for a company limited by guarantee for each in full.
Incorporated trustees also file a separate statement of affairs twice a year. A guarantee company does not share that requirement. See incorporated trustees: the statement of affairs for that filing.
Which structure suits which kind of organisation
A church, mosque or small community association usually finds incorporated trustees the simpler fit. Trustee governance matches how these bodies already run, day to day.
A guarantee company suits a different kind of body. Think of a professional association, an industry body, or a foundation set up by an existing company, each wanting company-style structure without shareholders.
Ask a corporate lawyer to confirm which structure fits your organisation's actual governance plans, before you reserve a name for either one and spend money on the wrong form. Our guide to registering incorporated trustees covers that process in full. A guarantee company follows a similar pattern: reserve a name first, then register, each with its own fee.
Browse the CAC registration hub for more on registering a non-profit body with CAC.