Filing Financial Statements under the Companies & Allied Matters Act in Nigeria (CAMA)

Filing Financial Statements under the Companies & Allied Matters Act in Nigeria (CAMA)

November 02, 2021

Financial statements are records of the financial activities of a company over a period of time.

At the end of every financial year, the director of a company is required by the Companies and Allied Matters Act (CAMA) to prepare a financial statement for the company. The financial statement must show the following.

  1. The balance sheet of the accounting year
  2. Profit and loss or Income and expenditure (for companies not trading for profit)
  3. Notes on the account
  4. The directors report
  5. The auditor’s report
  6. Financial summary
  7. For a holding company, the group financial statement is required.
  8. A private company need not include the listed information below;

i. Statement of accounting policies .

ii. State of source and application of fund.

iii. Changes in equity

iv. Value-added statement for the year.

Additional requirement may be included to the above as required by applicable accounting standards.

Not every company is required by CAMA to file their financial statement along with their Annual returns. Small companies are not required to file their financial statements when filing Annual returns. The CAMA defines a small company as a company where its Annual turnover does not exceed N120, 000, 000 (One hundred and Twenty Million) and where the Net asset does not exceed N60,000, 000 (Sixty Million). Every other company that the turnover exceeds that of a small company would file as a company other than a small company and is required to file Annual returns with their Financial statement attached.

Team 618 Bees



618 Bees can quickly and easily help you file your Financial Statements as required by the Company and Allied Matters Act 2020 in Nigeria. Log on to our website or email, or give us a call on +2349017190079. 618 Bees will complete your application with the Corporate Affairs Commission (CAC).


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Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 

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    A limited liability company (LLC) must not have a company secretary.

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    Nothing, the purchased form will be in your account for future use.


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    A minimum number of one (1) adult director is required to form a company.

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