A business name is the simplest way to trade formally in Nigeria. It gives you a CAC certificate, lets you open a corporate bank account and makes your business credible to customers and suppliers. Here is exactly how the process works.
Step 1: Choose and reserve your name
Prepare two proposed names in order of preference. The CAC will reject names that are identical or confusingly similar to an existing registration, names that imply government affiliation, and restricted words such as 'Federal', 'National', 'Bank' or 'Holdings' unless consent is obtained.
Once a name is available, it is reserved for 60 days. Registration must be completed within that window or the reservation lapses.
Step 2: Gather the required documents
The documentation for a business name is deliberately light, but every item must be accurate — the details you file appear on the certificate.
- Valid means of identification for each proprietor (NIN slip, international passport, driver's licence or voter's card)
- Passport photograph and signature of each proprietor
- Residential address and phone number of each proprietor
- Business address (a physical address in Nigeria, not a P.O. box)
- Nature of business and proposed commencement date
Step 3: File the application and pay the fees
The application is filed through the CAC Company Registration Portal. You pay the statutory filing fee plus stamp duty, and an accredited agent's professional fee where you use one. Filing through an accredited agent reduces the risk of a query, which is the most common cause of delay.
Step 4: Collect your certificate and stay compliant
Approval usually takes 3 to 7 working days. You receive a certificate of registration and a certified status report, which are what your bank will request to open a corporate account.
Registration is not the end. Business names must file annual returns by 30 June each year, and you should obtain a Tax Identification Number and register with your state internal revenue service if you have employees.
Common mistakes to avoid
Filing a name that is too generic, using an address you cannot receive correspondence at, and forgetting annual returns are the three issues we most often have to fix for clients who registered without professional help.
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