Nigeria has 3.1m registered companies - Corporate Affairs Commission

Nigeria has 3.1m registered companies - Corporate Affairs Commission

- A total of 3.1 million companies have been registered by CAC in Nigeria

- Acting registrar general of the commission, Lady Azinge, said most of the companies registered were limited liability companies

- According to Azinge, the registration processes can now be done on the commission’s registration portal, including all payments

The acting registrar general of the Corporate Affairs Commission (CAC), Lady Azuka Azinge, has disclosed that Nigeria has a total of 3.1 million registered companies.

Daily Trust reports that Azinge who made this known at a customer forum held in Abuja also said there was the total number of companies registered from the inception of CAC to date.

She said a total of 618,309 business entities was registered by the commission from 2016 to 2018. The CAC boss said a total of 175,000 entities were registered in 2016, while 193,194 were registered in 2017 and 252,035 in 2018.

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She further stated that 248,914 were limited liability companies, and 327,676 were business names while 41,719 were incorporated trustees.

Azinge told participants at the forum that since inception to date, most of the companies registered were limited liability companies.

She said the CAC has digitalised business registration processes for ease of doing business and the its (commission’s) seamless operation.

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She said most registration processes can now be done on the commission’s registration portal, including all payments.

Legit.ng previously reported that the Corporate Affairs Commission announced a reduction in the cost of business names' registration.

The commission on Wednesday, March 6, said the registration fee for business names in Nigeria has been reduced from N10,000 to N5,000.

However, the CAC said the reduction in cost for business name registration will end on Sunday, March 31.

The commission also advised the general public to take advantage of the Business Incentive Strategy (BIS) window to formalize their businesses before the deadline.

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Source: Legit.ng

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