Change of Person with Significant Control (PSC) of Company

Change of Person with Significant Control (PSC) of Company

₦30,000

File Notice of Change of Person with Significant Control (PSC) with CAC

Under Nigerian law, companies are required to maintain a register of persons with significant control (PSC). A PSC is a natural person who holds more than 5% of a company’s shares or voting rights, or otherwise exerts significant influence over its operations and decision-making. Whenever there is a change in the PSC, whether through a transfer of shares or appointment of a new PSC, the company must officially notify the Corporate Affairs Commission (CAC).

SplashDict helps companies file the Notice of Change of Person with Significant Control (PSC) quickly and accurately, ensuring your company remains compliant and your beneficial ownership records are properly updated on the CAC registry.

Service Fee (All inclusive):

₦30,000

Update Company’s Person with Significant Control (PSC) in Nigeria

Here’s how SplashDict’s CAC-accredited experts assist you:

  • Filing & Documentation: We prepare and file the necessary CAC forms, board resolution, PSC notification forms, and all supporting documentation required to effect the change.

  • Official Document: Receive an updated CAC Status Report reflecting the current Persons with Significant Control.

  • Transparent Pricing: Covers all statutory CAC filing fees and our professional service fee with no hidden charges.

  • Fast Processing: Your request is typically completed within 2–10 working days, subject to CAC approval.

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Why File a Change of Person with Significant Control (PSC) with CAC?

In a Nigerian company, a Person with Significant Control (PSC) is the natural person who ultimately owns, controls, or significantly influences the company, whether directly or indirectly. This includes any individual who holds more than 5% of the company’s shares or voting rights, has the power to appoint or remove the majority of the board of directors, or exercises significant influence or control over the company’s operations and decisions in any other way.

Filing a Change of PSC with the Corporate Affairs Commission (CAC) is therefore essential whenever beneficial ownership or control of the company shifts. The CAC requires that any such change be formally recorded in the company’s PSC register and officially reported.

  • Statutory Requirement: Under CAMA 2020, all companies must disclose and maintain an up-to-date register of persons who have significant control over the company.

  • Maintain Accurate Public Records: Regulators, financial institutions, and government agencies rely on the CAC registry to verify the true beneficial owners of companies. Updating PSC records ensures your company’s ownership structure is transparent and accurate.

  • Promote Corporate Transparency: PSC disclosure helps prevent misuse of corporate entities for fraud, money laundering, or concealment of ownership.

CAC Post-Incorporation Services

Requirements for Filing Change of Person with Significant Control (PSC) with CAC

  • Up-to-Date Annual Returns: The CAC usually requires all outstanding annual returns to be filed before approving any post-incorporation changes.

  • Company Details: Provide the company’s full registered name and RC (Registration) Number as recorded with the CAC.

  • Outgoing PSC Details: Provide the full name of the individual who previously had significant control and the date they ceased to have that control.

  • New PSC’s Details: Provide personal details including title, full name, former name (if applicable), designation, nationality, gender, date of birth, contact details (phone and email), identification type and number, Tax Identification Number (TIN), and service and residential address.

  • Politically Exposed Person (PEP) Declaration: Indicate whether the PSC is a Politically Exposed Person (PEP) or has any political affiliations.

  • Affiliation Details: You must declare whether the PSC has any existing affiliations with the company.

  • Nature of Control: Specify the type of control the individual has over the company, such as ownership of shares, voting rights, ability to appoint directors, or significant influence over company decisions.

  • Authorization: The application must be signed by the company’s directors, secretary, or an authorized representative.

Change PSC of Company

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