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Joseph Inokotong, Abuja
Vice President Yemi Osinbajo has directed the Corporate Affairs Commission (CAC) to further extend the window for registration of Business Names at the reduced cost of N5,000 by 90 days.
The directive was given in order to give opportunity to Micro, Small and Medium Scale Enterprises (MSMEs) who could not register their businesses in the first and second phases of the Business Incentive Strategy (BIS).
The Acting Registrar-General of the CAC, Lady Azuka Azinge ,disclosed this to newsmen in Abuja at the weekend.
The Commission under its Business Incentive Strategy (BIS), had reduced the cost of Business Names registration from N10,000 to N5,000 for a period of three months (1st October to 31st December 2018). Upon expiration of the initial three months window, the commission received several requests from stakeholders and the public, and extended same for another period of three months (1st January to 31st March 2019) due to popular demand, particularly from state governments
Lady Azinge stated that the third extension would deepen the success achieved in the first and second phases and will run from Monday, May 13 to August 13, 2019. She enjoined members of the public to take advantage of the further extension to register their business names at the reduced cost of N5,000.
Members of the public can either do it themselves online by login on to the Commission’s website: www.cac.gov.ng or visit any of the Commission’s offices nationwide. In a related development, Lady Azinge revealed that the Companies and Allied Matters Amendment Bill had since been passed by the National Assembly and was awaiting presidential assent. According to Lady Azinge, the amendment is aimed at enhancing the commission’s supervisory and regulatory powers.
