Cost of registering business in Nigeria is now cheap – CAC

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The Registrar-General, Corporate Affairs Commission (CAC), Mr. Bello Mahmud, has told Nigerians that are interested in registering their business name, that the cost of business registration is now cheaper and its process simplified to enable small entrepreneurs to register their businesses.

This was announced in a statement made by Head, Public Affairs, CAC, Mr. Godfrey Ike while addressing the Micro, Small and Medium Enterprise (MSME) Clinic.

He said that with the Company Registration Portal (CRP), any member of the public could now register businesses on-line at the comfort of their homes and offices.

“This has drastically reduced the registration cost hitherto charged by professional middlemen (Lawyers, Accountants, and Chartered Secretaries), in the registration process.

“Entrepreneurs who had already registered their businesses must 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 the ground of dormancy.

” The MSME Clinic is an initiative of the Office of the Vice President, which is aimed at holistically addressing all the operational challenges and bottlenecks of MSME in Nigeria,” Muhmud said.

According to him, the commission is one of the critical government agencies that has been participating in the on-going nationwide MSME Clinic that commenced in Aba in January.

He added that the MSME Clinic was expected to be held in all states of the federation.

“So far, the Clinic has been held in 13 states of the federation,” he said.

According to him, other relevant agencies like FIRS, SON, Bank Of Industry (BOI), NAFDAC, SMEDAN participated in the clinic.

Source: ( PM News )

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