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BREAKING: CAC to register 3,500 small businesses for free nationwide

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The Corporate Affairs Commission(CAC) has announced a move for free business name registration for 3,500 small businesses across Nigeria’s 36 states and the Federal Capital Territory (FCT).

Hussaini Magaji, the Commission’s Registrar-General, revealed this in a post on the CAC’s official X account on Monday.

The initiative’s goals, according to Magaji, are to lower the cost of company formalisation for micro and small businesses and to entice more entrepreneurs to work in the formal sector.

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Registrar General, Hussaini Magaji

According to him, the action demonstrates the commission’s dedication to encouraging entrepreneurship, reducing startup expenses, and fostering equitable economic growth nationwide.

“In the spirit of the celebration, the CAC has announced free business name registration for 3,500 small businesses, to be distributed across the 36 states of the federation and the Federal Capital Territory,” the commission said in a statement.

According to Magaji, the program’s goal is to persuade small enterprises to formalise their activities so they may take use of government services, financing options, and increased economic involvement.

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The registrar-general characterised the commission as the result of vision, ingenuity, and a persistent dedication to national progress as she reflected on the commission’s journey over the previous 35 years.

He pointed out that the commission has developed into a tech-driven organization that prioritises effectiveness, openness, and adherence to international best practices.

Additionally, the registrar general revealed that the commission would sign a collaboration letter with Google to strengthen its digital infrastructure and service delivery.

According to him, the collaboration could boost site functionality and make doing business in Nigeria even easier.

Magaji also declared the opening of a revamped commission website with new online resources, such as a business name generator and an AI lawyer.

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He claims that the business name generator would make it easier to reserve scalable business names, and the AI lawyer will offer immediate advice on CAC laws and procedures.

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