Steps to follow when registering a business in Nigeria

Steps to follow when registering a business in Nigeria

This article is ideal for people who wish to register a business name in Nigeria under Part B of the Companies and Allied Matters Act. This process is known as Business Name Registration. This entire process usually take about a week depending on the workload on the Corporate Affairs Commission at the moment.

how to register a business name in nigeria
source: new.cac.gov.ng

Whenever a person wants to register a business name in Nigeria, the following are the steps are usually taken:

STEP 1

Choose and Reserve a Name – The number one step when you want to register a business name in Nigeria is to choose what name you want your business to bear, this is done online. Then you will write an application to the Corporate Affairs Commission (CAC) and give two alternate names for your business.

The CAC will conduct a search in its database to ensure that the name you gave is not already in use or there is no same name already in use by another business. If the CAC approves the name, then it will reserve the name for you for a 60-day period. Throughout this period it is expected that you will complete the registration process for your business name.

STEP 2

Fill the Business Name Registration Forms to the end– As with step 1 above, this can also be done online. The information required to be completed includes:

  • Approved Name of the Business
  • Address of the Business
  • General Nature of the Business
  • The Name, Address, Occupation and other relevant details of the Proprietors of the Business
  • Signature of the Proprietors

STEP 3

Payment of CAC Filing Fees – The payment of the fees can be done online or can be done in a bank.

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STEP 4

Submission of Forms – Once the payment you made has been approved, you may then submit the forms online, the CAC will review the document and if everything is in order, the CAC will then notify the registrant that the application has been approved, and the Business Name Certificate is ready for collection.

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