How to Register Your Business Name with Corporate Affairs Commission

The government is like an umpire regulating business transaction. Such regulation includes things like registration of business name, routine checks and others.

Nigeria is among the countries of the world that are deeply into business and government has spelt out means of authenticating businesses with the right agency.

The agency in charge of registration of private business in Nigeria is quite different from the one in charge of corporate business.

The professional body in charge of registration of corporate businesses in Nigeria is the Corporate Affairs Commission (CAC). Erstwhile Company Registry, a department with the Federal Ministry of Commerce and Tourism was the agency responsible for registration of corporate businesses before Corporate Affairs Commission was established. 

Presently in Nigeria, for a company, business, firm etc., to register with Corporate Affairs Commission, it must be able to meet the basic requirements for such registration; operating an unregistered business in Nigeria is illegal and attracts the wrath of the law.

Intending businesses or organizations who want to register their business name with Nigeria Corporate Affairs Commission are advised to follow the guideline in the steps below;

•  Conduct a name search

The first step in business name registration is to conduct a name search to ascertain if the intending business name has been registered before by another organisation. This process can be achieved by using one’s CAC-CRP account.

If the business names you intend to register already exists, you may consider changing your business name or adding one or two alphabets or number to differentiate it from the already registered business.

 

•  Fill registration form

Fill the registration as well as the statutory forms meant for issuance of certificate of incorporation in Nigeria.

The applicant should attach two recent passports sized photographs to the form filled.

 

• Pay filing fee

Find out the amount of money payable in respect of filling and also for certificate of incorporation and the amount involved and proceed to pay the filing fees at the Corporate Affairs Commission; then submit the statutory application form that states the name of the business.

Remember there could be other little charges payable in respect to the certificate of incorporation. Find out from the authorities and pay to the designated bank accounts. 

Notes: Individuals, who want to register their business name, can do so directly with Corporate Affairs Commissions without the assistance of a lawyer, chartered secretary or accountant.

 

Registration procedure

In order to keep your CAC customer registration portal access secured, you have to

• Make your registration access portal private, guided and personal for security reasons otherwise, it becomes a public affair.
• It is prohibited to share your password or security questions with anyone; when an issue is observed in login in, use e-mail.
• Use the forgotten password feature on the portal, when you can’t remember your password again 

 

You are advised to use a computer that has antivirus to avoid loss of information that could arise as a result of a virus.

Businesses in Nigeria should be registered with the relevant authorities and it will definitely give the business legal backing and also makes things easy for its owners when taking a loan from any of the financial institutions or when applying for international business transactions.