CAC ex­tends dead­line for 50% cut on busi­ness reg­is­tra­tion

Business a.m. - - COMPANY - Ades­ola Afo­labi

THE COR­PO­RATE AF­FAIRS COM MIS­SION (CAC), agency in charge of busi­ness reg­is­tra­tion in Nige­ria has agreed to ex­tend the dead­line for a 50 per­cent cut in the price of busi­ness reg­is­tra­tion till to Sun­day, March 31, 2019.

The agency said last week that it has ex­tended the pe­riod for the 50 per­cent cut in the reg­is­tra­tion fee, to en­able busi­ness own­ers to pay the sum of N5,000 to have their busi­ness names reg­is­tered with ease.

The move is part of the cur­rent ad­min­is­tra­tion’s ini­tia­tive to ease up the process of start­ing a busi­ness in the coun­try. CAC how­ever noted that upon ex­pi­ra­tion of the new dead­line it will re­vert to the old fee of N10,000 for busi­ness name reg­is­tra­tion.

CAC ex­plained that it de­cided to ex­tend this of­fer as part of its ef­forts to “deepen the ben­e­fits of its re­form ini­tia­tives.”

If fur­ther said the ex­ten­sion was to en­able more mi­cro, small and medium en­ter­prises to for­mal­ize their busi­nesses, which will en­able them to own cor­po­rate ac­count with banks, have ac­cess to loans, grants and other gov­ern­ment in­ter­ven­tions.

“Mem­bers of the pub­lic are en­joined to take ad­van­tage of this win­dow, to regis­ter their busi­ness names at the re­duced cost of N5,000 after the Name Reser­va­tion of N500,” the agency said.

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