In 2 months, FG registers 69,000 SMEs Business Names

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About 69,000 new businesses got their names registered and recognized by the Federal Government of Nigeria between October and December, 2018, under Business Incentive Strategy (BIS) initiative.

In 2 months, FG registers 69,000 SMEs Business Names
CAC Image | cac.gov.ng

The Vice President Yemi Osinbajo, had during the launching of the 19th edition of the Micro, Small and Medium Enterprises (MSMEs) Clinics in Enugu, announced a reduction in business name registration fee from N10,000 to N5,000 from October 2018 to December 2018.

DailyTrust reports that during a media roundtable to recount the activities of the Corporate Affairs Commission (CAC) for 2018, the Acting Registrar General of CAC, Lady Azuka Azinge, said "the BIS had recorded tremendous success."

According to her,

"CAC has registered 69,000 business names for Small and Medium Enterprises (SMEs) under the recently introduced Business Incentive Strategy (BIS) initiative by the Federal Government."
She further stated that the commission had already applied to the Minister of Industry, Trade and Investment, Okechukwu Enelamah, for an extension of the strategy by three months.

The extension, according to her will enable the commission register more of the over 40 million SMEs that are not registered in the country.

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