CAC Matters

This section contains everything you need to know about company and business enterprise registration in Nigeria at the Corporate Affairs Commission (CAC). How to file annual returns and other CAC Matters

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20 Requirements to Change Company Director in Nigeria

Change of company director falls under several reasons according to the Corporate Affairs Commission (CAC), Nigeria’s sole agency that is responsible for the registration of business and company in Nigeria. read more

cac_penalties_imposed_on_erring_companies_or_businesses_in_nigeria_infomediaNG_Business_Solutions

20 CAC Penalties Imposed On Erring Companies In Nigeria

The Corporate Affairs Commission (CAC) has laid down rules on the management of the details of company or business data. As a company, you’re expected to file a notification of any change whatsoever with the commission. read more

CAC business registration

How To Form A Limited Liability Partnership In Nigeria Under CAMA 2020

Limited Liability Partnership or LLP is a partnership arrangement with legal personality separate from the partners.

The liabilities of the partners of an LLP are limited to the amount agreed to be contributed or what is outstanding in the event of winding up. read more

CAC business registration

Importance of Memorandum of Association To An Incorporated Company

A Memorandum of Association is a legal document which can be described as the “constitution” of an incorporated company in principle which defines its objectives and powers in regard to its dealing with the outside world. read more

CAC business registration

CAC Adds LLP and LP To Company Registration Portal (CRP)

The Corporate Affairs Commission (CAC) has officially added Limited Liability Partnerships (LLPs) And Limited Partnerships (LPs) And Deployment Of The Registration Solutions On Company Registration Portal (CRP) read more

How To Form A Limited Partnership Business In Nigeria

How To Form A Limited Partnership Business In Nigeria Under CAMA 2020

Back in my Economics class, we’re taught types of business, the information handed down by our teacher was still very relevant, the only slight changes can be found in the regulatory laws guiding the formation of such businesses. read more

Limited Liability Company Registration Nigeria

6 Key Requirements For Company Registration in Nigeria

Part B, sections 18 to 54 of the Company and Allied Matters Act 2020 extensively outlines the key requirements for the formation and registration of companies in Nigeria and the roles of parties involved play. read more

Incorporated Trustees registration requirements in Nigeria

11 Requirements For NGO Registration in Nigeria And Other Incorporated Trustees According to CAMA 2020

The process of application for the registration for a Non-Governmental Organisation, foundation, churches, clubs, and mosques among others is adequately provided in the Company and Allied Matters Act, 2020.

The aforementioned association of people falls under the Incorporated Trustees and their mode of making such body a legal with the Corporate Affairs Commission (CAC) is completely different from business name and liability company.

We’ll dissect the entire process for simplicity purposes in order to handle the process by yourself in case you are under a very tight budget.

But the fact that you’re under a tight budget may lead to multiple rejections by the CAC team if you failed to follow the process as stipulated under Nigerian law.

So…

What are Incorporated Trustees in Nigeria?

Incorporated Trustees are non-profit making body, associations of people, or organisation who are bound together by a common goal to either improve the welfare of their members or to improve the well-being of the underprivileged in the society at large.

The entities under incorporated trustees independently source for funds for the management of their association while some of them like the Non-Governmental Organisation gets grants from the international organisation if their course is well articulated and are making an impact in their locality.

If you are using a third party like a certified CAC agent for the registration, you are definitely going to provide the below information to commence work on your request.

  • Organization’s Name
  • Details Of Organisation
  • Trustees Details
  • Chairman of organisation
  • Status of trustee secretary
  • Letterhead Paper
  • Organization’s Aims And Objectives
  • Organisation’s Constitution
  • Application for registration
  • Newspapers Advertisement
  • Minutes of Meeting

Organization’s Name

Under this section, you may be required to provide three unique names for your organization, NGO, foundation, and club among others.

The essence of providing three names is to have a wide range of options in case one isn’t available, others will be. It’s called the proposed name.

Specifically, Section 823 (1) of CAMA 2020 which focuses on the Incorporation of trustees of certain communities, bodies, and associations stated that:
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CAC Verification Code to complete business registration

How To Request A Refund From CAC: 7 Key Details To Include In Your Email (Letter)

Since the Corporate Affairs Commission (CAC) completely moved its services online, it hasn’t been palatable for some applicants. Some of them were debited by remita while they received a message from the commission that their payment was unsuccessful.

We’ve found close to 10 of such unsuccessful payment complaints on Facebook and Twitter while we received close to 20 of such complaints via our mail.

We’d share three of such cases with you:
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CAC business registration

14 Requirements for Business Name Registration in Nigeria

In the 90s, only a few small business owners knew the importance of business registration. In fact, some people ignorantly believed that you would be heavily taxed when your business is registered. It’s a myth after all.

The few awareness by the government and self-consciousness of entrepreneurs regarding accessing government and banking loans has made them embrace the need to have a legal name for their businesses.

Today, the official portal of the Corporate Affairs Commission (CAC) is the first stop for every prospective business because they know that doing so comes with lots of advantages.

Some of the benefits of registering your business name with the CAC are:

1) It’s one of the eligibility requirements to apply for a government or banking loan for your business. That’s why some SMEs were disadvantaged during agric loans by the federal government during the post-pandemic credit facility.

2) Your business name gives you a legal identity

3) With your business name, it becomes easier to attract foreign and indigenous partnerships with companies.
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CAC business registration

10 Functions of Corporate Affairs Commission Under CAMA

With its establishment in 1990 by the Companies and Allied Matters Act during the regime of former military President Ibrahim Badamosi Babangida, the Corporate Affairs Commission (CAC) is now the first point of call for business owners who want to give their enterprise or limited liability company a legal backing.

We’ll tell you more about the practicable functions of Nigeria’s one of the most powerful agencies when it comes to business registration and filing of company annual returns as it’s clearly explained in our guide at: https://infomediang.com/annual-returns-with-cac-nigeria

Origin of Corporate Affairs Commission

There had been business registration in Nigeria even during the first republic. The body saddled with the responsibility at the time was called the Company Registry.

It was first under the supervision of the Federal Ministry of Commerce and Tourism. But its ineffectiveness prompted the establishment of the Corporate Affairs Commission which is now of the

agencies of the Ministry of Industry, Trade and Investment read more

Solve CAC Queried Registration

How To Solve CAC Queried Registration Issue

Query in your CAC dashboard is a request by an official of the Corporate Affairs Commission that you need to fix an issue in your business name and company registration and re-submitting the application for re-assessment.

Some of the reasons your application may be rejected or queried include:

  • An issue with uploading of your ID
  • Error with your signature
  • Recouch object
  • Size of your document
  • Reconcile voting percentage for limited liability
  • No query reason
  • Duplication of directors or proprietor’s details
  • Proprietor’s address
  • Discrepancies in the data of trustees
  • Failure to follow the prescribed file format
  • Failure to follow the prescribed photo or document size

What to do if you’re asked to “recouch object”

Recouch object simply means you have to rephrase the nature of your business. It means you have to use the right words that convey the nature of the business.

You are most likely to get a “recouch object” query if you failed to properly describe the nature of your business. Simply put, use simple and understandable words to describe the services your business will be offering.

How To Solve Problem in Uploaded Documents

If you already uploaded these docs and were flagged, it’s either the photos were larger than the required size or blunt (not clear enough).

To rectify the problem:

  • Scan your ID
  • Append your signature on a white paper and scan to the required size
  • Go back to your portal to upload
  • Click on query
  • Submit and mark as resolved

The space to upload a new document can be found on the last page of your registration portal.

If you already uploaded documents, click on it to upload a new one, which will automatically replace the old one.
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This is better done on a laptop or desktop computer to get the best result. If you are using an Android device, it’s better to use Chrome, Mozilla, or Bing browser and switch to desktop view.

How To Resolve Duplication Of Directors Or Proprietor’s Details

You may encounter this issue as a Public User Account, to resolve this issue,

  • Login to your account
  • Click “Profile” to edit your profile information
  • Choose Edit
  • Complete and correct all the fields
  • Click the “Save” button
  • Head back to the dashboard
  • Choose “delete” on the duplicated entry
  • Mark as resolved, that’s all

How To Solve Name Substitution Query

If your name application is successful, you shouldn’t sleep with your eyes closed, you might still get queries on the name reservation from the CAC review team.

So, if CAC asks you to change the approved name for the entity after you’ve submitted the application for registration, here is what to do:

  • Go ahead to reserve another name
  • Select “Name substitution” as a reason for the name reservation.
  • When the name is approved, login to CRP
  • Click on the “resolve query” on your dashboard.

That’s all

How To Resolve “No Query Reason”

No query reason on cac registration

In the course of resolving some of the reasons why your application may be rejected, we’ve seen a flagged submission where the query reason wasn’t stated.

To solve this problem, simply run a check on your application, ensure that your profile aligns with the details in your submission (unless you’re an accredited agent).

To resolve this issue

  • Check that there are no discrepancies in your data
  • Then “mark as resolved” and resubmit.
  • Your submission would be reviewed and approved.

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CAC business registration

Did CAC Delist Your Company From Its Database? Here Is How To Resolve It

If you registered a company with the Corporate Affairs Commission in 2016 and you failed to file a return for four years or more, there is a possibility that your company will be delisted from CAC database.

One of the ways to check this is to run a check on the company’s status, if you see the tag, “inactive” you have to take steps it removing this tag.

Do you know that refusal to file an annual report may lead to CAC ‘sanction’ against your company, you check details at: https://infomediang.com/annual-returns-with-cac-nigeria

5 Things Delisting Means

  1. It is one of the penalties imposed by CAC to punish an erring company or business
  2. Failure to take swift action to address the issue will be seen by the commission that the company no longer carries out business.
  3. Your company will no longer be regarded as legally registered entities
  4. Your business will lose all privileges so accorded them by law.
  5. You can no longer use the name as a legal entity in accessing government loans

Last delisting by CAC

The last delisting exercise by the commission was carried out in 2017 when it stated that names of over 38,000 companies were removed from its register.

Their offense:

The affected companies failed to file annual returns to the commission, the Registrar-General of CAC has said.

When such happens, only the court can give an order for the companies to be readmitted into the register of CAC.

The delisted companies may have not been liquidated,  the companies have up to 20 years to reapply for re-registration, says the law.
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How To File Company Annual Returns With CAC in Nigeria

Difference Between BN and RC In Business (Business Name VS Registration Number)

In the course of registering your business at the Corporate Affairs Commission (CAC) you might come across jargon like BN and RC. Apart from telling you the difference between the two registration terminologies, we’ll also tell you the concept of BN and RC in your business.

If you’re yet to register your business, our guide on the requirements you need will be of help, you can find it at: https://infomediang.com/company-registration-cac-nigeria

What is BN?

BN is an abbreviation for usiness ame. BN is associated with the following businesses:

  1. Sole proprietorship (one-man business)
  2. Partnership.

What is RC in relation to business?

RC is an abbreviation for Registered Company which is specifically used to identity a Limited Liability Company.

By the above definition, RC is for a “Company Limited by Shares”, it comprises of at least two people who subscribe to be shareholders.

RC is associated with the following companies:

  • Private Company Limited By Shares
  • Private Unlimited Company
  • Public Company  Limited By Shares
  • Public Unlimited Company
  • Private Company Limited By Guarantee
  • Public Company Limited By Guarantee

Examples of a business name

In a real sense, your business’s legal name is your full name, however, this varies. It depends on your choice of a name you want your business to bear, most especially in Nigeria.

The type of business structure is a factor in choosing a business name. For instance, if you operate as a sole proprietorship, you could choose your full name as your business legal.

EG:

If your legal name is Samson Adex, you can include other words along with your full name to get something like:

  • Samson Adex Clothings
  • Samson Adex Enterprise

The above is applied to a sole proprietorship.

Business Name for a partnership business

If the business is a general partnership, the business name could be a combination of the last names of the partnership’s owners.

Samuel Drogba and Samson Adex own a partnership, they could use:

  • Samuel Samson Clothings
  • SD&SA Shoes

They could opt for something else based on an agreement that must be consented to by both partners.

NOTE:

This must be included in the partnership agreement.

Importance of business name

No doubt, your business name is one of the first things potential customers notice about your company.

The significance of a business name include:

  • It connects your customers to your products or services.
  • Easy and simple business name is one step closer to being successful.
  • Choose easy to pronounce a business name, this way potential customer wouldn’t find it difficult when there is need to ask for direction to your location.
  • Choose easy to understand business name, this way potential customer knows what services you offer on the go.

Having said that, it’s very important to touch on RC so that you know the clear distinction between the two when registering a business name on CAC official portal.
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CAC business registration

CAC Re-validation Is One-Time – Registrar

The Registrar General of the Corporate Affairs Commission Garba Abubakar said that the planned payment for CAC re-validation of accreditation is a one-time fee. read more

CAC business registration

How To Check If A Company Is Registered In Nigeria (FREE)

There is only one legitimate way to check if a company is registered in Nigeria. There are several ways to check to be sure that a company or business isn’t a scam even though it has a registration number. The latter requires you to run a check on CAC search portal to know if the business or company can be found in the database of the Corporate Affairs Commission (CAC). read more

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