Frequently Asked Questions

A share certificate is a document issued by a company to a person whose name is entered as a member of the company, identifying the shares held by that member.

It normally contains important information such as the shareholder's name, class of shares, number of shares, amount paid up, certificate details and relevant dates.

The share certificate is issued to the person whose name is entered as a member in the company's Register of Members.

In practical terms, the certificate represents the shares recorded as belonging to that shareholder. The certificate itself is evidence of title to the shares; it is not a separate ownership interest independent of the company's statutory records.

The company's Register of Members remains an important corporate record in determining membership and shareholding.

Yes. Companies have statutory obligations regarding the issuance of share certificates.

Section 171 of CAMA 2020 requires a company to complete and have ready for delivery certificates of shares allotted within the period prescribed by the Act, subject to the terms of issue.

CAMA 2020 also provides a mechanism through which a person entitled to a certificate may seek an order of the Court where the company fails to remedy the default after notice.

Companies should therefore treat share certificate issuance as part of proper corporate record-keeping and compliance.

The principal provisions are found in Sections 171 and 172 of the Companies and Allied Matters Act, 2020.

Section 171 — Issue of share certificates: This section deals with the company's obligation to prepare and deliver share certificates, the entitlement of members to certificates, the contents and execution of certificates, replacement of lost or destroyed certificates and consequences of default.

Section 172 — Effect of share certificate: This section provides that a share certificate is prima facie evidence of the title of the member to the shares specified in it.

The standard SCRS share certificate generation fee is currently:

For current plans, available features and applicable pricing, visit the SCRS pricing page.

Issuing a share certificate through SCRS is designed to be straightforward.

Step 1 — Create an SCRS account. Register on the SCRS platform and access your dashboard.

Step 2 — Add your company. Provide the relevant company information, including the company's registered details.

Step 3 — Add the shareholder. Enter the shareholder's details and the relevant shareholding information.

Step 4 — Provide the share details. Enter the class of shares, number of shares, value per share, allotment information and other required details.

Step 5 — Complete payment. Pay the applicable SCRS certificate generation fee.

Step 6 — Generate the certificate. SCRS generates the certificate and provides the relevant certificate record and verification details.

No. Creating an account on SCRS is free.

You can create your SCRS account and access your dashboard without paying a registration or sign-up fee.

Payment is required when you use paid SCRS services, such as generating share certificates, according to the applicable pricing plan.

Generally, no. A registered Business Name is not a company limited by shares and therefore does not have share capital or shareholders in the same manner as an incorporated company.

Share certificates are associated with companies having share capital and their members/shareholders.

If you operate a Business Name and intend to allocate equity ownership to investors or shareholders, you should consider the appropriate corporate structure and obtain professional legal advice.