Estate Inventory Form (Nigeria)

An Estate Inventory Form in Nigeria sets out a written record of the details it captures.

The obligation to prepare an inventory arises from the state Administration of Estates Laws — particularly the Administration of Estates Law Cap A2 Laws of Lagos State 2015, which requires personal representatives to keep an account of all assets collected and expenses paid. The Probate Registry of the relevant state High Court requires an inventory (or a schedule of assets) as part of the application for a Grant of Probate or Letters of Administration, to calculate court filing fees based on the total estate value.

Nigerian law recognises several categories of assets in an estate inventory: real property held under a Certificate of Occupancy or Right of Occupancy under the Land Use Act 1978 (state-specific); shares on the Nigerian Exchange (NGX) or privately held companies registered with the Corporate Affairs Commission (CAC) under CAMA 2020; bank and savings accounts (confirmed by the relevant CBN-licensed bank); pension entitlements under the Contributory Pension Scheme administered by pension fund administrators regulated by the National Pension Commission (PenCom); motor vehicles (registered with the relevant state vehicle licensing authority); and personal effects, jewellery, and household goods.

The inventory interacts with the Nigerian tax system: the Personal Income Tax Act Cap P8 LFN 2004 may impose income tax on estate income during administration, and the Capital Gains Tax Act Cap C1 LFN 2004 may apply to gains from asset disposal, both administered through the FIRS or relevant State Internal Revenue Service. The legal framework governing the Estate Inventory Form (Nigeria) is the Administration of Estates Law of the relevant state, read with the applicable Wills Law (or the Wills Act 1837 as received law where no state Wills Law exists) and, for indigenous estates, the personal customary or Islamic law of the deceased, all administered through the Probate Registry of the relevant High Court. The Nigeria Data Protection Act 2023, supervised by the Nigeria Data Protection Commission (NDPC), governs personal data recorded in the document.

A Nigeria Estate Inventory Form is needed at the outset of every estate administration, whether testate (with a will) or intestate (without a will).

When applying for a Grant of Probate at the Probate Registry of any Nigerian state High Court — including Lagos, Abuja, Rivers State, Anambra State, or Kano State — the executor must prepare and file a schedule of estate assets and their estimated values to enable the registrar to calculate filing fees and assess the scope of the estate.

When an administrator is appointed by the High Court to administer an intestate estate, the administrator must prepare an inventory before commencing collection of assets. Nigerian banks will not release the deceased's funds to the administrator until a certified copy of the Letters of Administration and the inventory are presented, consistent with CBN Know Your Customer guidelines.

When multiple beneficiaries are entitled to the estate — whether under a will, under the applicable intestacy law, or under customary inheritance rules recognised in the beneficiaries' state of origin — the inventory provides the basis for dividing the estate and prevents disputes about what assets existed at the date of death.

When the deceased held assets in multiple states — for example, real property in Lagos with a Certificate of Occupancy from the Lagos State Government, a bank account with Zenith Bank, shares on the NGX, and a pension account — the inventory consolidates all assets into a single document, simplifying the administration across multiple institutions and jurisdictions.

When a family disputes the extent of the estate or a beneficiary suspects that assets have been concealed, an independent inventory prepared by a NIESV-registered estate surveyor and an ICAN accountant provides an objective benchmark for resolving the dispute. Parties in Nigeria should prepare an Estate Inventory Form (Nigeria) before a dispute arises, since the Probate Registry and the High Court interpret the document by its written terms rather than oral recollection. Distribution follows the Administration of Estates Law of the relevant state and, where applicable, the personal law of the deceased.

A properly drafted Nigeria Estate Inventory Form must include the following elements.

Deceased's particulars: Full name, date of birth, date of death, last known address, state of domicile at date of death, and the applicable personal law (statutory or customary) governing intestate succession if no valid will exists.

Grant reference: The number and date of the Grant of Probate or Letters of Administration issued by the relevant state High Court Probate Registry, confirming the personal representative's authority to act.

Real property: Each parcel of land and building owned by the deceased, identified by the Certificate of Occupancy number (or Right of Occupancy), state and local government area location, description of improvements, estimated market value certified by a NIESV/ESVARBON-registered surveyor, and any encumbrances (mortgages, liens).

Bank accounts: Name of bank (CBN-licensed), branch, account number, account type, and balance as at the date of death — confirmed by a letter from the bank.

Investments: Shares held on the NGX (with share registry confirmation from the Central Securities Clearing System, CSCS), shares in private companies registered at the CAC (with CTC of share certificates), and other investment instruments.

Pension entitlements: Name of pension fund administrator (PFA) licensed by PenCom, Retirement Savings Account (RSA) PIN, and balance as at the date of death.

Vehicles: Make, model, year, registration number (state vehicle licence authority), estimated value.

Debts and liabilities: All known outstanding debts of the deceased — mortgage balances, personal loans (from CBN-licensed lenders), tax liabilities confirmed by FIRS or State IRS, and judgment debts.

Personal representative's declaration: A signed and sworn declaration (deposed before a commissioner for oaths) confirming that the inventory is complete and accurate to the best of the personal representative's knowledge. Parties should confirm that the Estate Inventory Form (Nigeria) satisfies the Administration of Estates Law of the relevant state and the applicable Wills Law before execution. Forms-legal.com provides this template as a starting point for Nigeria-compliant documentation.