April 26, 2017

Business Name Registration in Nigeria- Step by Step Guide

business name registration now takes 2 days

Business Name Registration in Nigeria- Register online in 48hrs

It’s now possible to carry out online business name registration in Nigeria within just 2 days. The time frame used to be 10 days but this new development is coming as a result of some reforms being carried out by the present administration.

This was made known by the Senior Special Assistant to the Vice President on Media and Publicity, Mr. Laolu Akande. He stated that there was also now a 24-hour timeline for company registration from when the application form was completed and all required documents made available.

Speaking further, he stated that prospective business owners could now utilise thepublic search feature on the Corporate Affairs Commission’s portal to avoid duplication of names and prevent selection of prohibited names. This would have a positive effect by minimising resources spent on invalid names. “CAC has introduced single incorporation form (CAC1.1) to save time and reduce costs, while the agency has introduced document upload interface on its website to enable e-submission of registration documents.”

Similarly, this development would empower business owners to successfully carry out their business name registration online in Nigeria without involving a third party (a lawyer, an agent, etc) to prepare registration documents on their behalf.

Other aspects of the presidential reforms actualized in the last 60 days include the Integrated FIRS e-payment solution into CAC registration portal to enable e-stamping while the reform empowers CAC internal lawyers to certify company incorporation forms and conduct statutory declaration of compliance for just ₦500.

The Corporate Affairs Commission CAC is the governmental body which regulates the creation and administration of companies in Nigeria. the commission is empowered by the Nigerian law to handle all issues that relate to registration of companies, business names, and incorporated trustees in Nigeria.

There are numerous benefits associated with registering the name you use for conducting business. It provides a legal basis for the usage of such names to do business, especially in cases of name disputes. Similarly, it helps to promote confidence in clients and buusiness partners. To begin the process of registering your business name online today, visit the CAC online registration portal here. In case you are interested in finding out the relevant fees involved, you can find the information in the table below.

Business Name Registration Online

1Reservation of Name500
2Registration of business name10,000.00
3Filing of notice of change of business name5,000.00
4Filing of notice of change in business address1,000.00
5Filing of notice of change in proprietorship1,000.00
6Filing of annual return1,000.00
7Filing of notice of cessation of business1,000.00
8Filing of other documents (miscellaneous)1,000.00
9Search on business name file1,000.00 per business name file
10Certified true copy of business name certificate of registration5,000.00
11Certified true copies of other documents2,000.00 per document

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