From October 1 to December 2018, Business registration will cost #5,000.
The fee for registration cost #10,000 normally but this new development was announced by the Vice-President in Enugu during the 19th Edition of Micro and Medium Enterprise (MSME) Clinics.
According to the Special Adviser to the VP on Media Laolu Akande;
“It was observed during some of the earlier editions of the MSMEs Clinics that a lot of MSMEs were finding it difficult to register their businesses as a result of cost,” he said.
“The practice since we began the MSMEs clinics is that most agencies offer price reductions, especially for registration, and all other pre-investment approvals, during the Clinics.
“So, I am pleased to announce that the Federal Government, through the Corporate Affairs Commission, has approved a special window of 90 days from Oct. 1 to Dec. 31 to register businesses at a considerably reduced rate of N5000 only, down from as much as N10,000 previously.
“This will afford more MSMEs an opportunity to formalise their businesses.”
Vice-President Yemi Osinbajo said the federal government will introduce shared facilities for MSMEs.
“The purpose of these shared facilities is to have a fully-equipped place with machinery and equipment required for various trades and businesses. MSMEs can then do their businesses at those locations at a reasonable cost,” he explained.
“This way, MSMEs are spared the financial burden of having to buy their own equipment in order to be able to do business.
“Where possible, these shared facilities would have been pre-certified by relevant agencies, removing the need for MSMEs to pursue these certifications by themselves.”
Business Registration with the CAC has now been improved that one can apply online. Click Here to Visit Registration Portal.
Credit: The Cable Newspaper
The Corporate Affairs Commission (CAC) has released a press release to inform Nigerians that they can now search for Names of Businesses on their public search portal.