President Muhamadu Buhari has approved free business name registration with the Corporate Affairs Commission (CAC) for 250,000 businesses across the nation.
This was announced on Tuesday evening by the Media aide to the President, Bashir Ahmad.
Pres. @MBuhari has approved free business names’ registration for 250k MSMEs nationwide; according to the CAC, 6,606 names in each of the 34 states, Abuja will have 7,906, Lagos 9,084 & Kano 8,406.
— Bashir Ahmad (@BashirAhmaad) October 27, 2020
“President Buhari has approved free business names’ registration for 250k MSMEs nationwide; according to the CAC, 6,606 names in each of the 34 states, Abuja will have 7,906, Lagos 9,084 & Kano 8,406,” he tweeted.
What you should know
This comes after Nairametrics reported earlier this month that the CAC had announced it would begin registering companies within 48 hours, approve names the same day, and ensure 5-day completion for other post-incorporation services not available electronically.
Since the end of the #EndSARS protests, the Federal Government has been working on packages that are perceived as necessary for addressing the issues of large youth unemployment, which is viewed as a catalyst for the massive turnout during the protests.
The National Economic Council (NEC) has set up a committee to meet the needs and demands of Nigerian youths behind the #EndSARS protests. The head of the Committee is Vice President Yemi Osinbajo, with one of the frameworks being “A social security framework for the youths and Nigerians to deal with the problem of unemployment and poverty in the country.”
The free business registration coming this period will help businesses that can’t afford the registration fee to get their business registered and timely.