C.A.C EXTENDS 50% REDUCTION OF COST OF BUSINESS NAMES REGISTRATION TO 31ST MARCH, 2019

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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”.

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.