The Federal Government of Nigeria has directed Cooperate Affairs Commission to reduce the cost of business registration in Nigeria. The window of opportunity is open for a period of 3 months.
The Vice President, Yemi Osinbajo has disclosed the Federal Government’s approval of a 90-day special window to register businesses at a reduced rate of N5,000 only.
The VP’s spokesman, Laolu Akande, made this known in a statement on Tuesday, 1st October, 2018.
The Nigerian Vice President made the announcement at the MSME event. The announcement was made at the launch of the 19th edition of the Micro, Small and Medium Enterprises (MSMEs) Clinics in Enugu, Nigeria.
The Vice President said the discount window will run from Oct. 1 to Dec. 31, 2018
He said that the gesture was to further ease the process of registering MSMEs in the country.
“It was observed during some of the earlier editions of the MSMEs Clinics that a lot of MSMEs were finding it difficult to register their businesses as a result of cost.
“So, I am pleased to announce that the Federal Government, through the Corporate Affairs Commission, has approved a special window of 90 days from Oct. 1 to Dec. 31 to register businesses at a considerably reduced rate of ₦5000 only, down from as much as ₦10,000 previously.
“This will afford more MSMEs an opportunity to formalize their businesses,” he said.
Young entrepreneurs out there, you should take advantage of this discount window and formally legalized your business.
HOW TO REGISTER A BUSINESS NAME REGISTRATION IN NIGERIA.
Corporate Affairs Commission is empowered by the constitution to register all business names, companies and many more.
Creation of account
Click on create account on the home page of the Portal.
Complete the forms displayed
Public Search : Search for a Name to Register, To do so Click Here.
Login using your profile details.
Select ‘’NAME SEARCH’’.Complete the forms displayed.
- Always make use of the ‘’CONTINUE’’ button until you get to the end of the form and make payment.
- For Incorporated Trustee make sure you provide the main object in the column provided.
- All fields make asterisks and in red are compulsory and must be populated.
Reserve a Name: Submit your Preferred Business Name
Reserve name.Log in with your profile.
Select ‘’REGISTRATION’’Select the classification that is ‘’BUSINESS NAME, or COMPANY, or INCORPORATED TRUSTEE’’.
Enter the availability serial code.
Click on continue.
Enter the details of the ‘’PROPRIETOR, DIRECTORS, TRUSTEES, SHAREHOLDERS, SECRETARY (depending on whether you are registering a BUSINESS NAME, COMPANY, or INCORPORATED TRUSTEE).
Please Note: Individual/Proprietors can register business names without the services of the legal practitioner,chartered Accountant or Chartered Secretary.