Reduced Cost of Business Registration In Nigeria For 90 Days

The Federal Government  have directed Cooperate Affairs Commission to reduce the cost of business registration in Nigeria. The reduction will run for the period of 3 months.

The Vice President, Yemi Osinbajo has disclosed the Federal Government’s approval of a 90-day special window to register businesses at a reduced rate of N5,000 only.

The VP’s spokesman, Laolu Akande, made this known in a statement on Tuesday, 1st October, 2018.

The Nigerian Vice President was quoted as making the announcement at the MSME event. The announcement was made at the launch of the 19th edition of the Micro, Small and Medium Enterprises (MSMEs) Clinics in Enugu.

The Vice President said the discount window will last from Oct. 1 to Dec. 31.

He said that the gesture was to further ease the process of registering MSMEs in the country.

It was observed during some of the earlier editions of the MSMEs Clinics that a lot of MSMEs were finding it difficult to register their businesses as a result of cost.

“So, I am pleased to announce that the Federal Government, through the Corporate Affairs Commission, has approved a special window of 90 days from Oct. 1 to Dec. 31 to register businesses at a considerably reduced rate of  ₦5000 only, down from as much as  ₦10,000 previously.

“This will afford more MSMEs an opportunity to formalize their businesses,” he said.

Young entrepreneurs out there, you should take advantage of this discount window and formally legalized your business.

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How to Register a Business Name Registration In Nigeria.

Business registration in Nigeria.

Corporate Affairs Commission is empowered by the constitution to register all business names, companies and many more.

Step One

Creation of account

Click on create account on the home page of the Portal.

Complete the forms displayed

Public Search : Search for a Name to Register, To do so Click Here.
Login using your profile details.
Select ‘’NAME SEARCH’’.Complete the forms displayed.

NOTE:

  1. Always make use of the ‘’CONTINUE’’ button until you get to the end of the form and make payment.
  2. For Incorporated Trustee make sure you provide the main object in the column provided.
  3. All fields make asterisks and in red are compulsory and must be populated.

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Step Two

Reserve a Name: Submit your Preferred Business Name
Reserve name.Log in with your profile.
Select ‘’REGISTRATION’’Select the classification that is ‘’BUSINESS NAME, or COMPANY, or INCORPORATED TRUSTEE’’.
Enter the availability serial code.
Click on continue.
Enter the details of the ‘’PROPRIETOR, DIRECTORS, TRUSTEES, SHAREHOLDERS, SECRETARY (depending on whether you are registering a BUSINESS NAME, COMPANY, or INCORPORATED TRUSTEE).
Please Note: Individual/Proprietors can register business names without the services of the legal practitioner,chartered Accountant or Chartered Secretary.

How to Check If a Company Is Registered In Nigeria With CAC

Lets say you are in  business with a company You would like to know if they are registered with Corporate Affairs Commission (CAC)?

Good news is you can do it from your phone at the comfort of your sofa.

To begin, visit CAC website, you will be presented with a form to type the name of the company you want to search for. Enter the company name without the “Limited” or “Ltd”. Check the “I am not a robot” CAPTCHA and click submit.

You will be presented with the status of the company. The status includes :

  • Registered company – with the RC No, registered address and date of registration.
  • Undergoing registration – the registration address with the displayed
  • Returns empty set if the company does not exist.

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