Thursday, October 04, 2018 06.36AM / CAC
The Corporate Affairs Commission (CAC) has announced a reduction in the cost of business name registration. A business name will now be registered at the cost of N5,000. The service previously attracted a fee of N10,000.
The CAC in a statement on Tuesday said the reduction in cost of business name registration was a business incentive strategy aimed at encouraging micro, small and medium enterprises to formalise their operations.
In an effort to deepen the benefits of its reform initiatives, the Corporate Affairs Commission has reduced the cost of Registration of Business Names from N10,000 to N5,000 after the Name Reservation of N500, with effect from the 1st October to 31st December 2018.
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 2nd Day of October 2018