CAC Extends Biz Registration Promo Till March, 2019

The Corporate Affairs Commission (CAC) has extended the 50% discount on business name registration till March 31, in what appears to be a call on Nigerians to register their businesses at N5000, down from as much as N10,000.

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ITSALLISAY.com reported last month how the commission had registered over 69,000 business names in just 2 months (between October and December, 2018) when the announcement was made.

The commission, we noted, (had already) applied to the Minister of Industry, Trade and Investment, Okechukwu Enelamah, for an extension of the strategy by three months.

On Thursday, January 3, CAC took to its Twitter page to urge Nigerians to take advantage of the window, adding that it took the decision to deepen the benefits of its reform initiatives.

PUBLIC NOTICE – EXTENSION OF REDUCTION OF COST OF BUSINESS NAMES REGISTRATION BY 50%
In an effort to deepen the benefits of its reform initiatives, the Corporate Affairs Commission has extended the reduction of cost of Registration of Business Names from N10,000 to N5,000
— CAC Nigeria (@cacnigeria1) January 3, 2019

after the Name Reservation of N500, with effect from the 31st December, 2018 to 31st March, 2019.
The Business Incentive Strategy is aimed at creating a window for Micro, Small and Medium Enterprises (MSMEs) to formalize their businesses,
— CAC Nigeria (@cacnigeria1) January 3, 2019

which will enable them own corporate account with Banks, have access to Loans, grants and other government interventions.
— CAC Nigeria (@cacnigeria1) January 3, 2019

Members of the public are enjoined to take advantage of this window, to register their Business Names at the reduced cost of N5, 000 after the Name Reservation of N500.
— CAC Nigeria (@cacnigeria1) January 3, 2019

However, the commission advised that "extra copies of documents shouldn't be clicked (during registration) to avoid paying over the stipulated N5,000.00."