We are regularly asked to correct registrations done in a hurry. These are the five errors that account for the majority of the remedial work.
1. Choosing the wrong structure
Registering a business name when the business will take on contract risk, employees or investors leaves the owner personally liable and forces a fresh incorporation later. Decide on the basis of where the business is going, not where it is today.
2. Drafting objects too narrowly
Business objects define what the entity may lawfully do. Overly narrow objects block you from adjacent revenue lines and from permits in related categories, and changing them later requires a special resolution and a CAC filing.
3. Getting share capital wrong
Registering at the ₦100,000 minimum saves a little in stamp duty but can disqualify you from permits, licences and tenders with capital thresholds — and increasing capital later attracts fresh stamp duty and filing fees.
4. Inconsistent director and shareholder details
Names, dates of birth and addresses that do not match the identification documents cause queries at CAC, and later cause banks to reject account opening. The details you file must match your ID exactly, including middle names.
5. Treating the certificate as the finish line
Incorporation is followed by TIN and VAT registration, statutory registers, opening a corporate account, and annual returns from 18 months. Entities that skip these end up regularising several years of default at once.
Need help with this?
We handle these filings every week. Tell us your situation and we will confirm the requirements, timeline and fees.
Get Started