How to register a sport betting business in Nigeria
Thinking of registering a sporting business in Nigeria? Well, the process is simple.
To start a sport betting business, you must first register it as a company and the commission charged with registration of any company in Nigeria is the Corporate Affairs Commission.
The First process of registering a company with the Corporate Affairs Commission is to reserve a name. This reservation can be made in the online site of the Company Registration Portal (CRP)Affairs. To access this site, you are required to log you into https//services.cac.gov.ng/login and fill in the necessary details as the presenter.
The Minimum share capital for registering a sport betting company is N20,000,000 (Twenty Million Naira). You are required to have at least two directors, at least two shareholders and a secretary. The directors and the shareholders can be the same person. Either of the directors can be a secretary. The directors, shareholder and secretary must have a valid identification card
The second step is to get the required License to operate a sport betting company. This is regulated by the National Lottery Commission of Nigeria. In Lagos, the Lagos State Lottery Board is responsible for this and you can get your sport betting form online. The accompanying documents for the Licence, includes Certificate of incorporation, Memorandum and Articles of Association, CAC Form 2 showing the minimum share capital of 20 million and CAC 7 showing the list of company directors, business Plan, details of the planned game, financial information, detailed information on proposed technical topography, processes and systems quality assurance. To find out more on how to obtain this license, please check out our blog post on “How to obtain a sport betting license”.
When you have obtained the necessary permit, you can start your sport betting company.
If your need any assistance with the first and second steps, you can email firstname.lastname@example.org reach out to our dedicated Call Center on +234901719007. Lets get you started!
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