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Home Financial Literacy Small Business

Buhari approves free business name registration for 250,000 SMEs

William Ukpe by William Ukpe
October 28, 2020
in Small Business, Spotlight
Buhari approves free business name registration for 250,000 SMEs, IMF, tax, rate, Buhari’s Budget of Sustaining Growth & Job Creation (Full text), Nigeria generates N1.36 trillion from corporate tax, others as oil revenue drops , Nigeria-Algeria highway gets Buhari's approval , Earnings from rich petroleum resources not enough to cater for Nigeria – Buhari , Tax: Buhari appoints Muhammad Nami as FIRS boss, Subsidy economics
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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.

READ: Nigerian firms risk delisting over failure to file annual returns – CAC

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READ: CAC may reduce Business registration fee

READ: #EndSARS: Lagos State Judicial Panel has my full support – Buhari

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.

The free registration commences today, visit https://t.co/XTVTfPewMD for details. pic.twitter.com/eF2YcYaJAE

— Bashir Ahmad (@BashirAhmaad) October 27, 2020

READ: SMEDAN to move 40 million informal businesses to formal sector, registers MSMEs

READ: AfCFTA delay: A bane to Africa’s $3.4 trillion economic bloc

READ: Healthplus: NASSI asks FG to intervene

“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.

“The free registration commences today, visit https://cac.gov.ng for details” he added.

READ: #EndSARS: Access Bank announces N50 billion interest-free facility for businesses

READ: FIRS gives tax defaulters a 30-day ultimatum

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.

READ: Where to invest your N5m to N500m safely and securely

READ: CAC delists over 40,000 dormant companies

Bottomline

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.

READ: CAC to reduce business registration period to 6 hours

READ: Nigerians indifferent to lower CAC registration fee

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.


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Tags: Business NewsCorporate Affairs Commissionfree business nameNigeria News
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

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Comments 18

  1. Gab says:
    October 28, 2020 at 1:16 pm

    How can I register please and it is still on?

    Reply
  2. Gbuzue okeu says:
    October 28, 2020 at 6:07 pm

    All this is fallacy. What will that do to the economy of the nation. How come Kano is to have more numbers that Lagos. This government is a joker

    Reply
    • Kinkade says:
      October 29, 2020 at 8:53 am

      Do you read at all. Lagos has 9k plus kano has 8k plus. Ethnicity is the real problem and you are the problem.

      Reply
      • OYELEKE MAKINDE NOAH says:
        October 30, 2020 at 8:05 am

        You people believe every Nigerian can avoid #5000 for registration,and you wish to eradicate poverty in this country Nigeria.

        Reply
  3. Kelly says:
    October 29, 2020 at 11:34 am

    It is little wonder why Nigerians tend to doubt government interest in her citizens. The aggregators contact for this registration are either switch off not reachable, busy or they simply refuse to pick the call. One even picked and cut off the call after a second. I kept calling and the person refused to pick the call.

    I tried calling other aggregators in other states just to see if the response is the same and guess what, it was the same. What a shame

    Reply
  4. Owolabi says:
    October 29, 2020 at 12:51 pm

    How can i register pls i need it pls pls

    Reply
  5. Owolabi folake Ololade says:
    October 29, 2020 at 12:53 pm

    Please i need it how can i do the registration please pls

    Reply
  6. Anonymous says:
    October 29, 2020 at 2:20 pm

    I need more explanation

    Reply
    • Lucky says:
      October 29, 2020 at 7:13 pm

      Do I hear free registration of business name? according to CAC registration portal which I logged in the steps are as follows:2k charge for stap duty,650 naira for availablity and name Search, 5k for certificate booking.please let me know or understand how it is free registration.

      Reply
    • Ibrahim Tijjani danyaro says:
      March 8, 2021 at 2:04 pm

      I need to free CAC for business,please assist,I am deaf,

      Reply
  7. Jayne says:
    October 29, 2020 at 2:36 pm

    Same thing happened when I tried to call their numbers. It’s so annoying. A lot of things are promised and declared by the government but implementation is where the story hangs. What a big shame indeed!

    Reply
    • Kingsley Idahosa osas says:
      October 31, 2020 at 12:02 am

      I will like this idea because I have been trying to register my business name kingso art I am a sign writer & a artist

      Reply
  8. Samson says:
    October 29, 2020 at 9:09 pm

    This method is so bad ,why contacting on resonable aggregator. The phonewas ringing and ringing without receiving too bad.

    Reply
  9. Anonymous says:
    October 29, 2020 at 11:37 pm

    Guy this registration no be free Its still Sam thing you gats pay

    Reply
  10. David says:
    October 31, 2020 at 9:47 am

    Please i need the link for the Registration Ebonyi state.

    Reply
  11. Ibrahim Tijjani danyaro says:
    March 8, 2021 at 2:09 pm

    I need to free CAC for business, please assist,I am deaf

    Reply
  12. Abdu Aminu Soda says:
    June 19, 2021 at 5:41 pm

    you should do it free so as more Nigerians benefit.

    Reply
  13. Bulus Audu says:
    September 21, 2021 at 10:46 am

    how can I get this great opportunity

    Reply

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