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CAC Reduces Price of Business Registration

By Modupe Gbadeyanka

The Corporate Affairs Commission (CAC) has announced reducing the process and cost of registering businesses in Nigeria.

A statement issued by the Head of Public Affairs at the CAC, Mr Godfrey Ike, made this known on Tuesday.

The statement quoted Registrar-General of the CAC, Mr Bello Mahmud, as saying that business owners can now register their firms without the usual hassles of the past.

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According to him, business registration can now be done seamlessly online at a very cheaper rate and promptly via the Company Registration Portal (CRP).

“This has drastically reduced the registration cost hitherto charged by professional middlemen (Lawyers, Accountants and Chartered Secretaries), in the registration process,” Mr Muhmud was quoted as saying at the Micro, Small and Medium Enterprise (MSME) Clinic in Abuja today.

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However, he warned that

“Entrepreneurs who had already registered their businesses have the obligation to file Annual Returns with the Commission as and when due.

“Failure to file Annual Returns will result to striking-off of such defaulting entities on ground of dormancy,” he said.

The CAC boss said his agency would continue to improve the ease of doing business in Nigeria and support the country’s economy.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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