CORPORATE AFFAIRS COMMISSION- EXTENSION OF THE 50% REDUCTION FOR BUSINESS NAMES REGISTRATION

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The Corporate Affairs Commission(CAC) recently extended the deadline for the 50% reduction for business names registration. The new deadline is August 13. This is to enable more micro, small, and medium enterprises to register their business names for ₦5000 instead of ₦10,000.

It would be recalled that the reduced fee was first introduced in October 2018 under the Business Incentive Strategy (BIS) initiative, designed to make it less costly for MSMEs to formalize their businesses. The initial date was between October 1 to December 31, 2018, and later extended from January 1 to March 31, 2019.

The recent extension to August 13, 2019 is based on the directive of the Vice President, Yemi Osinbajo to enable many small business owners that haven’t registered their businesses to do so with CAC so that they can enjoy a lot of benefits as a registered business.

You can visit http://new.cac.gov.ng/home/ to register your business online with CAC and if you need any support, don’t hesitate to get in touch.