Change of Person with Significant Control (PSC) of Company

Change of Person with Significant Control (PSC) of Company

NGN30,000

Update Your Company’s PSC Register with CAC

A Person with Significant Control (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. This service is for when an existing PSC is replaced and a new one is appointed. It is a legal requirement to officially file this change with the Corporate Affairs Commission (CAC).

Service Fee (All inclusive):

NGN30,000

Change Company's Beneficiary Ownership 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 change in your company’s PSC.

  • Transparent Pricing: Our service fee includes CAC filing and professional handling fees; no hidden charges.

  • Fast Processing: Your request is completed within 3–7 working days, subject to CAC approval.

  • Ongoing Support: Our Chartered Secretary and corporate services team provide continuous help for your compliance needs.

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

A Person with Significant Control (PSC) is the individual who ultimately owns, controls, or significantly influences a company, whether directly or indirectly. This includes holding at least 5% of shares or voting rights, having the power to appoint or remove most directors, or exercising control over key decisions.

Under Nigerian law, all companies must maintain an up-to-date PSC register with the CAC. Any change, due to transfer of ownership, resignation, or restructuring, must be officially filed to stay compliant.

  • Identifying Beneficial Owners: The PSC regulations require companies to identify and disclose individuals who have significant control, even if they are not the legal owners. 

  • Mandatory Filing: A company is legally required to notify the CAC of any change in its PSC within one month of the change occurring.

  • Investor and Partner Due Diligence: Updating your PSC record builds trust with investors, banks, government agencies, and contractors, who often require current CAC records as part of background checks.

CAC Post-Incorporation Services

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

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

  • Old PSC Details: The full name of the individual being removed as a PSC and the date they ceased to have control.

  • Personal Information of the New PSC: This includes the person’s title, full name, former name (if applicable), designation, nationality, gender, date of birth, phone number,  email address, Identification type, Identification number, Tax Identification Number (TIN), Service & Residential address.

  • Politically Exposed Person (PEP) Status: You must state whether the PSC is a Politically Exposed Person (PEP), meaning someone in a prominent public position or a close associate of such a person.

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

  • Nature of Control: You must confirm whether the PSC directly or indirectly holds at least 5% of the company’s shares or interests, voting rights, or whether they have the right to appoint or remove a majority of the company’s directors or partners, or exercise significant influence or control over the company in any other way.

  • Up-to-Date Annual Returns: All outstanding annual returns must be filed before the PSC change can be processed.

Change PSC of Company

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