CAC Entrepreneurship Symposium

How to register your business;

You can register your business online by yourself on www.cac.com.ng by following the following
steps;

1. Create a username and password for yourself (name, address, phone number, email and
password is required).
2. You can do public search to check if your business name has not yet been taken. Mind you, you
don’t need to be registered to use this feature.
3. Approve the business name with 500 naira. You will have to provide means of identification,
telephone number, email address, nature of business you want to start, passport photograph (all
will be uploaded online). Submit every necessary information and pay the sum of ten thousand
Naira excluding remita charges.
4. You get your certificate. For any type of business the process is the same. Be it PLC, LLC or
whatever.
5. You will be charged an annual due of three thousand five hundred naira only.

N.B:- It is better to register as a new business and not necessarily saying how long your business
have been active. You will be charged for all the years your business has been active. Registering
as a new business saves you the hassle of payment of unnecessary expenses.

Advantages of registering your business;

1. It will be a legal entity
2. It will help the nation’s economy
3. The business and its name will be protected from harassment.
4. Access to incentives and government assistance programs
5. The company’s status can be easily known if the company is active or inactive. Companies that
are not paying annual dues will be deemed inactive. This can be checked using the CAC app.

Nuggets of motivation for you:-

1. Develop your own enterprise.
2. Think of a problem you can solve and build a business on that idea.
3. Work for your own money.
4. You can make something out of nothing no matter how old you are.
5. You can start small and work your way up.
6. No matter what you are doing, you need a business as another source of income.

P.s:- Come 7th of July, all POS that are not listed under a valid CAC-registered business will stop
working (figuratively).