Free Business Registration: We Have Registered 245,000 Businesses so far – CAC

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The Corporate Affairs Commission (CAC) says it has registered 245,000 businesses under FG’s free business name registration program.

The Registrar-General of CAC, Garbage Abubakar Ade this known on Wednesday during an interview with News Agency of Nigeria in Abuja.

Abubakar added that the free registrations were done with the approval of the federal government, as part of its interventions to reduce the economic impacts of COVID-19 on Nigeria. 

“Federal Government paid 50 per cent of the cost of registration to CAC and more than 245,000 business names were consequently registered,” 

He noted that  the process so far has been electronic and applicants also got their certificates electronically.

He disclosed that aggregators were appointed and paid to collect SMEs information and submit the same to CAC.

“The numbers were divided between the 36 states of the federation and the FCT,” he said, noting that “Lagos, Abia and Kano States had the largest numbers.”

“The commission provided special access for the aggregators for effective service delivery since they were responsible for scanning and uploading of documents,” he said, citing that the CAC had to take over from one of the aggregators appointed for two states, who failed to deliver.

“We are hoping that by end of September, the exercise will come to an end,’’ he said.

Business Compiler had on October 2020 reported that Federal Government approved free business name registration with CAC for 250,000 Micro, Small and Medium Scale business enterprises in the country. Business Compiler also published a guide on how to benefit from the 250,000 free FG/CAC business registration.

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