The Vice-President of Nigeria recently announced the Federal Government’s (“FG”) approval of a 90-day special window commencing from 1st October 2018 to 31st December 2018 for the registration of business names at a reduced rate of N5,000 (five thousand Naira) per registration. The cost of registration (which is exclusive of the N500 name reservation fee) was a reduction of the previous registration fee of N10,000 (ten thousand naira) which will enable micro, small and medium enterprises the opportunity to formalise their businesses in order to benefit from private loans and other government interventions.
In line with the FG’s announcement, the Corporate Affairs Commission (the “CAC”) has issued a public notice on its website confirming that the cost of business name registration has been reduced by 50%. Please see link below.
Members of the public can therefore proceed to the CAC website to register their business names at the reduced rate. Please note that this reduction only applies to the registration of business names and not to the registration of companies limited by shares, companies limited by guarantee or incorporated trustees
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Adepetun Caxton-Martins Agbor & Segun
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