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Corporate Affairs Commission of Nigeria: Business Registration Guides

The registration of firms and businesses with the Nigerian Corporate Affairs Commission necessitates a set of procedures. Business registration is a legal process that allows individuals and businesses to legally conduct business in any country across the world. As a result, this post will show you how to register your firm or business with the Nigerian Corporate Affairs Commission online.

Nigeria, like every other country in the world, has regulatory authority in charge of business registration. The Corporations and Allied Matters Act established the Corporate Affairs Commission of Nigeria to govern the establishment and management of companies in Nigeria.

Duties of the Nigerian Corporate Affairs Commission

The Nigerian Corporate Affairs Commission has a number of responsibilities. According to section 7 of the Companies and Allied Matters Act, the Commission has the following responsibilities:

  1. To carry out the Act’s provisions, including the regulation and oversight of company creation, incorporation, management, and winding up,
  2. To establish and maintain a company register and offices in each of the Federation’s states that are suitable and fully equipped to carry out the Act’s or any other law’s functions.
  3. Arrange and carry out an investigation into the affairs of any corporation if the interests of the shareholders and the general public require it.
  4. To engage in any other activities that are necessary or expedient in order to give full implementation to the Act’s provisions.
  5. In addition, the Commission registers business names and Incorporated Trustees, among other things, and offers a variety of other services.

How to Register a Business Name with CAC

The Nigerian Corporate Affairs Commission (CAC) has made it easier to register business names in Nigeria. With the launch of the CAC website, it is now possible to register a business name in Nigeria online.

We’ll go over the various steps of business name registration in Nigeria in this article. This process includes incorporated Trustees, and private and public limited companies.

CRP Account Registration

The first step in registering your business name in Nigeria is to create an account. There are a few basic steps to creating an account with the Corporate Affairs Commission. Let’s begin with the steps listed below.

  • To get to the homepage, open your web browser and type https://services.cac.gov.ng/ into the search box.
  • To register, go to the top right corner of the webpage and click the Register icon.
  • Fill out the form by entering your information and clicking the Register button at the bottom.
  • Verify the URL given to your inbox by logging into your email account. Your account is now ready to use.
  • Now enter your username and password to access your CAC account.
  • To register, please submit your credentials.

Name Reservation Application and Procedure

Before you can move on with the Name Reservation procedure, you must first settle on a name for your business or company. However, you can check the availability of a business name on the Corporate Affairs Commission’s website.

You can submit two alternate names for your business or firm to the Corporate Affairs Commission (CAC). To guarantee that the name is accessible for use, the commission will search its database. If the name is approved by the commission, it will be held in reserve for you for 60 days. CAC expects you to have completed the business name registration process during this time.

We’ll talk about how to apply for a name reservation, as well as general name reservations. Hence, name reservations will include the following:

  • Business Name,
  • Private or Public Unlimited Company,
  • Private or Public Company Limited by Shares or Guarantee,
  • Incorporated Trustee

The procedures for requesting name reservations for the aforementioned businesses are substantially comparable. Simply select the classifications of business for which you want a name reservation using the Classification and Specific Type sections.

So, how do I go about requesting a name reservation for my business name? To apply for a business name reservation, there are five (5) fundamental procedures to follow.

Select Business Name and Type

The first step is to access your CRP Account via the Corporate Affairs Commission’s login page. To get to the CAC Login page, type https://pre.cac.gov.ng/login into your web browser’s search bar. Enter your login information. To proceed, click “Submit.”.

The second step is to request for Name Reservation. From the homepage, click “Name Reservation.” Select New Name Reservation from the dropdown menu.

The next step is to choose a business type. Because we are filing for a business name, we will pick “Business Name” in both the Classification and Specific Type fields.

The same procedures are followed when requesting name reservations for:

  • Private or Public Unlimited Company,
  • Private or Public Company Limited by Shares or Guarantee,
  • Incorporated Trustee

Simply select the “company type” that corresponds to the firm for which you are requesting a name reservation in both the Classification and Specific Type fields.

It is now time to enter your intended business name. There are two options labeled 1 and 2; enter the two proposed business names into the text fields of Option 1 and Option 2. Then click Save and Continue to finish reserving your business name.

The Business Objectives

Select your objective option from the dropdown by clicking on the Reason for Available Search text box. Then, to proceed to the next step, click the Save and Continue button.

Presenter Information:

Here, the presenter fills out all of the fields marked with a red asterisk (*). After you’ve finished filling out the form, click the “Save and Continue” button.

Examine Your Entered Information

When you have finished entering data, the Corporate Affairs Commission will allow you to preview the information you have entered. This is to ensure that your information is correct before clicking on the Proceed to Payment button. If you are not satisfied with the data, return to that stage by clicking on any of the previous steps.

Make your payment

  • You will be charged a fee for the reservation after clicking “Proceed to Payment.” Select the REMITA option.
  • To complete payment, enter your credit card information and click Submit.
  • To proceed, click Submit once more.
  • Copy your Remita Retrieval Reference (RRR) number from the Payment Receipt and save it in a text file.
  • Scroll all the way to the bottom and click the Return to Home button.
  • Finally, you can either view or download your payment receipt. Click the “View Name Reservation” button to view your payment receipt. Alternatively, you can download it to your computer by clicking on Payment Receipt.

Confirm if the name reservation is approved by CAC

Please keep in mind that you must wait for the system administrator to approve the name reservation before proceeding to the next step. in order to determine whether the name reservation has been granted by Nigeria’s Corporate Affairs Commission. You must complete the following tasks:

  • Access Your CRP Account
  • Select the name reservation option.
  • Select My Reservation from the dropdown options.
  • If the request is not authorized, Pending Approval will be displayed. However, if it is authorized, you will see an approval message.
  • To get the Approval Note, click on it.
  • Copy the Availability Code number from the downloaded Approval Note. The Availability Code will be used for the Business Registration.

Business Name Registration

We will also go over the general procedures for registering all types of firms with the Nigerian Corporate Affairs Commission, using business name registration as an example.

The procedure of registering a business name begins now that the commission has approved the name reservation for your company.

How to Register a Business Name

Sign in using your CRP account profile. Click on “Company Registration.” Select “New Registration” from the dropdown menu. In the blank space, enter the Availability Code and click the Start Registration button. Fill out the necessary fields with your business information, then click Save and Continue.

To add the directors’ list, click the Add Directors option. A minimum of two (2) directors are required. Enter the director’s information and then click Save and Continue.

To Change or Remove the Director’s Information To make changes, click on the Edit or Delete buttons. Then press the Continue button.

Include the corporate secretary. The secretary could be an individual or a company, choose the best one. Enter the secretary’s information and then click Save and Continue.

Incorporate Shareholder. A shareholder can potentially be either an individual or a corporation. Select the appropriate option and enter the shareholder’s information. Save and proceed.

Enter the Declaration of Compliance details and click Save & Continue. This, however, is optional. You can simply disregard it.

Click the Add Object button, then enter and save the items. Then press the Continue button. At least one object must be added.

To add details to the Articles of Association, select Add Article and then Save. To proceed, click Continue. Finally, choose which documents you want to obtain copies of and click Save and Continue.

Preview Your Data Information

After you’ve input all of your data information, you should preview it to make sure there are no errors. If you see any issues, use the Back button to return to the page and make the necessary changes. Once your input is error-free, click the Proceed to Payment button to make your payment.

Make a Payment for Business Registration

Do the following on the payment page:

  • Choose your desired payment method. There are two options: Remita or NIBSS. Now, enter your payment information and press the Submit button.
  • After your payment has been successfully processed, click the Submit button once more.
  • Then, examine your payment receipt and make a copy of your Remita Retrieval Reference (RRR).
  • Scroll down to the bottom of the page and click the Return to Home button.
  • To see if your firm is successful, click View Company Registration. CAC will provide a notification confirming transaction success or failure once you click on the View Company Registration button.
  • To download a payment receipt, go to Payment History, then Download Receipt.

Processing of Stamp Duty

This will require a few steps to complete. Follow the steps below to process your Stamp Duty Payment:

  • Go to your CRP Profile, click on Company Registration, and then pick My Registrations from the dropdown menu.
  • Now, select the Stamp Documents option.
  • If you haven’t paid for stamp duty before, click the Check Status button to seek a New Assessment.
  • Stamp paperwork must be paid for. Choose one Lead Director and a Payment Gateway, such as Remita or NIBSS.
  • Select the Proceed Button.
  • Following your assessment of your payment summary. Continue payment by clicking here.
  • Enter your payment information and click Submit.
  • Once your payment has been processed, click Submit once again.
  • Your payment receipt will be displayed on the following page. You can make a copy of your RRR code.

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