Why business name registration is necessary–CAC

The Corporate Affairs Commission (CAC) has stated that registration of business names is necessary for both companies and small scale businesses as any enterprises operating without registering with the Commission is liable to be sanctioned.

Head of Bauchi State office of the Commission Alhaji Abdullahi Abubakar stated this, Thursday while speaking on the procedure and requirements for registering businesses at Business support clinic program and e-mentoring with mentors and mentees with beneficiaries of digital livelihood training for young women and girls organized by centre for information technology and development (CITAD) with support from equal digital skills fund held in Bauchi. He said it is compulsory for any one using any name for his business enterprises other than his personal name and surname to register it with the Commission adding that offenders risk penalty. According to him, registering the business will also help business men to have monopoly of the business names and get recognition as legal enterprises. The CAC boss noted that the registration costs the sum of  ‘only N10, 000’ Also speaking, the representatives of the National Agency for Food and Drugs Administration and Control (NAFDAC) and Standard Organization of Nigeria (SON) Bashir Musa and Mohammed Chinade explained that after registering with CAC, manufacturers of consumable items should register with NAFDAC while SON registers companies producing both consumable and non consumable items to ensure only quality items are sold to Nigerians. Earlier, the Executive Director of the centre for information technology and development (CITAD) Mr Y.Z Ya’u represented by the technical officer of the centre Kamaluddeen Umar said the training was intended to equip young women with practical ICT training and use its tools that would help them in the ICT industry and to start up micro-enterprises.


Source:  Blue print