The Corporate Affairs Commission(CAC) has extended the reduction of cost of business names’ registration.
CAC revealed this in a statement on its official website.
The commission has done this in a bid to encourage Small and Medium scale Enterprises(SMEs) to have better access to loans, and other government interventions.
A statement by the CAC said; ”In an effort to deepen the benefits of its reform initiatives, the Corporate Affairs Commission has extended the reduction of cost of Registration of Business Names from N10,000 to N5,000.
after the Name Reservation of N500, with effect from the 31st December, 2018 to 31st March, 2019.
The Business Incentive Strategy is aimed at creating a window for Micro, Small and Medium Enterprises (MSMEs) to formalize their businesses, which will enable them own corporate account with Banks, have access to Loans, grants and other government interventions.
Members of the public are enjoined to take advantage of this window, to register their Business Names at the reduced cost of N5, 000 after the Name Reservation of N500.”