Nigeria is one of the best countries in Africa for investment. It is one of Africa’s fastest growing economies. Besides, the country is rich in human resources and mineral resources making huge flow of money which is much greater compared to most other African countries. The government has also formulated some friendly investment policies aimed at attracting both local and foreign investors, part of policies are also to ensure ease of doing business for Small and medium enterprises.
If you have a business that you intend to register with the Nigerian Corporate Affairs Commission, below are procedures on how you can register a business in the country. It is important to note that you do not necessarily need the service of attorney. Here is how to register a business in Nigeria in the shortest time possible and without mistakes.
Choosing a name for your business is vital and can be quite difficult. This is because it has to be unique and catchy. It is important to ensure that the name you pick is related to the products/service your business will be rendering.
STEP 1: Google CAC portal or visit. (https://www.cac.gov.ng/)
STEP 2: Click On Corporate Affairs Commission
STEP 3: Scroll Down To Create An Account On the portal using your email address
STEP 4: After opening the account your username and password will be sent to your email
STEP 5: Use your username and password to login into C.A.C portal and CLICK on name search and search if your business name is available
STEP 6: IF the name is available, click on “BUSINESS NAME” and reserve the name, this will cost you online payment of N660 (including bank charges)
STEP 7: if the name is approved, you will go ahead AND DOWNLOAD THE approval letter, if the name is not approved then you have to reserve another name which will still cost you another N660.
STEP 8: Registration, after the approval of the business name, AVAILABILITY CODE will be given to you which is simply the SERIAL NUMBER on the downloaded notice of APPROVAL.
STEP 9: As soon as you put in the serial number, the next form will be displayed. You’re to fill in all the required information
STEP 10: You will need the sum of N10,000 as your registration fee.
STEP 11: If YOU have branch address you will pay an extra n1000 making it a total of N11000
STEP 12: After the payment fill in other necessary information and submit your registration application.
STEP 13: The documents will be verified within seven working day it may be longer or shorter, after verification, an email will be sent to you notifying you that your application has been approved.
NOTE: The registration is completely online
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