CAC Registration: A Comprehensive Guide to Online Business Registration

In compliance with the regulation of the Central Bank of Nigeria (CBN), the Corporate Affairs Commission has required all business owners to register their companies by July 7, 2024.


The CAC also revealed that registering a business name is now easier and can be finished in less than a day thanks to a newly launched special registration portal.

Here's everything you need to know about registering your business on the CAC Portal within 24 hours to avoid the fines associated with non-compliance:

1. Account Creation: Prior to registering or managing your business name or company, you must have registered an account. By selecting "Register" at [https://pre.cac.gov.ng/register/new], you can register with CAC and use either your either your NIN or your mobile number. Less than ten seconds are needed to create an account.

2. Choosing a Business Name: An entrepreneur needs to think of the most distinctive and special name for their company. You would have to take the company's values, industry, and target market into account when choosing a name.

To make sure their chosen business names haven't already been registered, entrepreneurs can conduct a search for them. Use these procedures to see if a company or business name has been registered:

• Go to www.cac.gov.ng, the website of the CAC.

• Navigate down the page and select "Public Search."

• Type the company's entire name into the search field and press "Search."



The whole company name, RC number, and office address will be shown in the result if the company is registered.

3. Business Name Reservation: A business name may be put up for reservation on the website as soon as it is verified that it hasn't already been registered.

After completing the form, pay N5,000 for a name reservation including restricted terms, N10,000 for the CTC of Registration Documents (excluding other expenses), and ₦500 for a name reservation. This will grant you access to your availability code.

4. Business Pre-Incorporation: After completing your registration and utilizing the code of availability that you receive (which you can locate this after your business name has been reserved, on your dashboard).

Information such as your business name, address, and planned business activity must be provided. Along with digital copies of the paperwork, you'll also need evidence of address, a lease agreement or utility bill, a business plan, and a legitimate form of identification such as a voter's card, international passport, national identity card, driver's license, etc. Sole proprietorships are not required to do this.

The prospective business owner must now upload the necessary documents after completing the pre-registration form.

Among the pertinent papers that need to be added to the CAC platform are:


• Reservation and availability of Name on Form CACC 1.

• The parties' names and addresses who formed the company

• A pair of current passport photos for each director and genuine

a method of recognition.

A legal practitioner's statutory declaration of compliance.

• The company's address and name

• Principal Business Office Address

• Tax returns filed with the Federal Inland Revenue Service.

• Any further paperwork or payments that the commission could require in order to comply with a legal requirement. Utilizing the Company Registration Portal [https://pre.cac.gov.ng/register/new], upload your paperwork online.



5. Payment of File and Stamp Duty Fees: The business owner will be prompted to make payment after uploading pertinent papers. The procedure will conclude with the issuance of an electronic certificate of registration and certified extract registration, which typically takes three to five days.

Keep in mind that the business registration portal (CRP) requires end-to-end registration.

The Price of Registering Your Company With The CAC.

The cost to register a business varies, according to CAC-accredited registration lawyers, although it usually starts at N20,000 and goes up to N40,000.

Depending on the share capital, the cost to create a limited liability corporation might range from N70,000 to N100,000.


The following are the one-time penalties for noncompliance with the CAC:

5,000 is a small firm.

Private company with a size of 10,000 or less.

10,000 is the company's guarantee limit.

25 000 for Public Company.

10,000 for a Limited Liability Partnership (LLP).

10,000 for a limited partnership (LP).

5,000 business names.

Ten thousand Incorporated Trustees.



Benefits Of Getting Your Company Registered With CAC.

It Saves Your Business: Businesses can avoid avoidable hassles by registering their names in Nigeria, such as sanctions after the July 7 deadline and worst-case situations like impersonation.

Official Acknowledgment: After After registration is complete, the CAC offers an electronic certificate that can be used anywhere in the globe without the need for physical presence.



Boost consumer trust: Signing up for a CAC account can help you increase sales as well as your clients' faith and confidence in your company.



Offers Legal Protection For Companies: A company's name is shielded from being used by any other company in Nigeria when it is registered with the Corporate Affairs Commission, rendering it fraudulent when it isn't used.



Access To Loans: Businesses registered with the CAC have easier access to loans. By establishing credibility and trust, it raises lenders' and investors' confidence in a company.