How To Register Your Business In Nigeria Step-By-Step Guide

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How To Register Your Business In Nigeria

In this article, you’ll learn How To Register Your Business In Nigeria with a step-by-step approach. Nigeria is one of the fastest developing countries in Africa today.

The country is rich in mineral resources and therefore there is a greater flow of money when compared to other African countries. The government has also created friendly investment policies that favor both local and international investors.

If you’re considering starting a business in Nigeria, you must register your business with the Corporate Affairs Commission which is the Agency empowered by the Company and Allied Matters Act 1990, according to section 659 to register operation in Nigeria.

It’s required by law that you should register your business if you intend to run a legitimate business in Nigeria. Depending on your type of business, you can register it by yourself even without a lawyer. 

Stated below, are categories for business registration in Nigeria. 

  • Business Name Registration
  • Private Limited Company (LTD)
  • Public Limited Company (PLC)
  • Company Limited by Guarantee (LTD/GTE)
  • Unlimited Company (ULTD)
  • Incorporated Trustee

Before you attempt registering a business in Nigeria, you need to come up with two names. 

Once you’ve figured out the name of your business. It’s time to get it registered.

How To Register Your Business In Nigeria

1. Pick two Business Names

As mentioned earlier, you must pick two business names so that if one doesn’t get approved the other one can. Choosing a business name is very critical and can be difficult. You need to ensure it’s unique, catchy, and marketable. 

Also, try and ensure the name relates to your product/service. The reason I said that is because it could be your brand and trademark.

Most businesses in Nigeria have Websites and therefore they have an online presence which makes it easy for you to research and discover if the business name you’re considering is unique or is in use by someone else.

Nevertheless, you need to keep in mind that many businesses have been registered already but haven’t started operating yet.

2. Visit the Corporate Affairs Commission (C.A.C) Website and Carryout a Public Search

Most people will tell you that you need to go to the CAC office to search for the name you want to register and ascertain if it’s available but trust me there’s no need for that. 

You can comfortably search for a name to register online from the Corporate Affairs Commission’s website.

To help you reduce the time required to register a business in Nigeria; please use the public search feature to search if the business Name you are intending to register already exists.

This service is offered free online via the Corporate Affairs Commission’s website. This could help save you time and money; since you would be certain that a business with the name you intend to register does not already exist. 

ReadHow To Start Your Own Ecommerce Business Easily

3. Reserve a Name

Once you have a name in mind; use the Name reservation feature to submit the name or names. 

For you to proceed you would need to create an online account, or log in if you already have one. 

The Name reservation ends with the notification of your Availability Code; with your availability Code; you can go ahead and register your business.

Remember to clarify any details from a duly accredited lawyer if you are intending to reserve special names. 

Keep in mind that this service costs N500 and can be paid online via Remita.

4. Pre-Incorporation

Use this feature to register your business. 

There are four key steps involved: 

  • The filing of the required information online
  • Payment for the incorporation filing and Stamp duty (Online)
  • Upload of the scanned documents
  • Receipt of your certificate of incorporation

Note that you can achieve the first three steps in 24 hours, and also possibly receive your certificate of incorporation the same day. 

Payment can be across any Nigerian Bank or online using your Card details. 

The certificate of incorporation would be posted to your chosen Drop off Point as selected by you.

5. Post-Incorporation Services (Coming Soon)

This feature is for existing companies. Post incorporation filings are mostly done by secretaries and accredited users authorized by the companies. 

Use this feature to change your business address, file your annual returns, change, and update share capital as well as shareholders, change directors, etc. 

This can be across any Nigerian Bank or online using your Card details. 

The certificate of incorporation would be posted to your chosen Drop off Point as selected by you. 

For more information regarding this Process, Download User Guide

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