CAC Extends 50% Reduction of Cost of Business Names Registration

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CAC to take Business Registration to Specialized Markets
CAC Head Office Abuja

The Corporate Affairs Commission
(CAC) has extended the reduction of the cost of registration of business names
to N5000 till 31st March, 2019. This the CAC management says is done
to deepen the benefits of its reform.

In a public notice issued on its
website on 2nd January, 2019, the Commission stated,

“In
an effort to deepen the benefits of its reform initiatives, the Corporate
Affairs Commission has extended the reduction of cost of Registration of
Business Names from N10,000 to N5,000 after the Name Reservation of N500, with
effect from the 31st December, 2018 to 31st March,
2019.”

The
Business Incentive Strategy is aimed at creating a window for Micro, Small and
Medium Enterprises (MSMEs) to formalize their businesses, which will enable
them own corporate account with Banks, have access to Loans, grants and other
government interventions.

Members
of the public are enjoined to take advantage of this window, to register their
Business Names at the reduced cost of N5,000 after the Name Reservation of
N500.

Dated
this  31st Day of December, 2018”

Recall
that on October 8, 2018, the CAC had announced a 90 days window of opportunity
for business owners to register their business name with N5000 after a name
reservation of N500. Read here

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