Between June 2016 and July 2017, Nigerian Corporate Affairs Commission (CAC) registered about 91,609 business names. While basic legal advice may be sought on the best form of business to register in Nigeria –whether as a company, business names, incorporated trustees or otherwise– here are quick practical guides on how you can register your business name in Nigeria without seeking for any assistance.
Step 1
Go to the CAC Portal and Sign Up:
On the CAC Portal (you may click here), sign up by creating an account. There are two types of account: ordinary accounts, which is accessible to everybody or accounts for accredited agents (accredited agents are professionals who are accredited to register business names and other categories of business on behalf of the Commission). Open an ordinary account or account for an accredited agent as the case may be.
- Now here is the danger: type in your name correctly, in the order you would want it to appear officially if you are an ordinary account holder. Make sure you are not entering the wrong name or another person’s name, who is not the owner of the business name. Doing so would mean that the name would automatically appear as the owner of the business on the registration forms.
STEP 2:
Once You Are Logged On To The Portal, Choose and Reserve a Name.
This stage begins with reserving your business name and one other alternative name. Alternative names are necessary in case your preferred name is returned unavailable by the CAC. Once the CAC conducts a search in its database to ensure that the name is not already in use or that there is no similar name already in use and returns the name as approved, the approved name would be available for a 60-day period, at the end of which it expires and returns to the CAC database. Nothing prevents the name from being reserved by another person and registered by him unless you reserve the name again after paying a search fee to the Commission. Once the name has been reserved, you must begin the registration of your business name within the sixty days reservation period. The name search usually takes up to one hour or more.
NB: All payments to the Commission are made online; however any tax obligation is to be assessed at the tax office.
Step 2
Fill In the Business Name Registration Forms Correctly
Still on the same online portal, click on ‘New Registration’, which could be accessed from the ‘Company Registration’ Button. Then enter the ‘Availability Code’, which is usually an 11 digit number found by clicking and opening the ‘Approval Note’ opposite the new business name you have reserved. Once a fresh page shows up, begin immediately the process of filling in the online forms. Make sure that all the bits of information you provide are clear enough and are accurate. To avoid queries on your registration, do not enter fictitious or unbelievable details or address. The information required to be completed includes:
- Approved Name of the Business
- General Nature of the Business
- Address of the Business
- Name, Address, Occupation and other details of the Proprietor(s) of the Business
- Signature of the Proprietors
Step 3
Once the Forms Having Been Correctly Filled, Proceed To Payment By Clicking on The Payment Button
Payment: The payment of all the fees may be made online or completed at a bank branch. Where the payment is made at a bank branch, make sure you generate a Remita Code with which you would confirm payment of the fees once you get home and log back to your CAC account.
Step 4
Submit Your Correctly Filled Forms Online
Once the payment has been approved, the filled documents would now be available for download. Once downloaded, handle with care and avoid any stain on the documents. Affix your passport photographs on the relevant places and append your clear signatures on the signature brackets. Notarise the documents before a Notary Public or a Commissioner for Oaths. Once you are sure that all the needful has been done, scan the documents and upload them here. On the new platform, enter the Availability Code of the business name and the branch office of the CAC where you would want to pick the Certified Trues Copies of the documents up from. Scroll down, choose from a range of documents you would want to upload and upload all the documents. Once you’re done, click on submit. Once the process is marked ‘documents submitted successfully’, then you’re done with whole the registration process. Within 5 working days, CAC either approves or returns queries on the application you submitted. Where queries are returned, treat them accordingly. Where approved, the CAC would notify you that the application has been approved. At this point, your Business Name Certificate is now ready for collection.
Step 5:
Collection of Certificate and Certified True Copies of Other Registration Documents.
Once approved, pick up all the documents you scanned and your ID card and proceed to the branch office of the CAC where you registered to pick the documents up from. No payment is made to collect the documents at the CAC office.
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The registration process may last longer than 5 working days depending on the workload of the CAC at the time and the number of queries that were returned on your application for registration.
DISCLAIMER:
This advice does not displace the sound legal advice you may get from your legal counsel. Your legal counsel may offer you good advice on what type of business best suits your dreams and aspiration and which may prevent any legal issues, arising from the composition of your business or otherwise, in the future.
Good luck on your new journey!
Charles Rapulu Udoh
Charles Rapulu Udoh a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organisations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution and data analytics both in Nigeria and across the world.