How to Register Business Yourself in Nigeria

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How to Register Business Yourself in Nigeria Powered By Docstoc
					THIS BOOK IS
CREATED BY
NAIJA JOBS
Are you a graduate searching for a good/better place to work? http://www.naijajobshome.co.cc is the
place you can find one.

I am delighted to share with you the secrets of registering your business name with the Corporate
Affairs Commission (C.A.C) in less than 21 days, without a lawyer and with less than N5,000.
You will also learn how make money doing it for others. (if you desire).

The Corporate Affairs Commission (C.A.C) is a body responsible for registering of businesses,
established by the Companies and Allied Matters Act (CAMA) which was promulgated in 1900
to regulate the formation and management of companies in Nigeria. The establishment of the
Corporate Affairs Commission (C.A.C) as an independent body was as a result of the perceived
inefficient and ineffectiveness of the former company Registry, a department within the Federal
Ministry of Commerce and Tourism which was then responsible for the registration and
administration of the repealed companies Act of 1968.

Therefore, if you want to register a business name, it can be done in either of two ways, one is to
engage the service of a lawyer and it will be done for you with about 10-15 thousand naira, or
two you do it by yourself, if you follow the secrets I will be sharing with you your success is rest
assured. Happy reading.

TO DO IT YOUSELF,

Just walk into any branch office of C.A.C closest to you and make a request for your business
name to be registered. Take a look at some of their offices. Please note that these addresses are
correct at the time this report was written. The CAC can decided to move to another location if
they wish to.

LAGOS:
IKEJA: Elephant cement House, Assbifi Road, Alausa Ikeja.
MARINA: 9th Floor, UBA House, No. 57 Marina-Lagos Island.

RIVERS: 112 Aba Road, P/Harcount, River State.

OYO: Premium House, Jericho Road, Eleyele Ibadan, Oyo State.

EDO: 55, Akpakava Street, Benin City, Edo State.

ENUGU: 1 Temple Avenue, off Opera Way, Enugu.

IMO: 7/9 Wetheral Road, Owerri, Imo State.

BORNO: 25, Sir Kashim Ibrahim Way, Chari House, Maiduguri, Borno State.

ADAMAWA: Galdima, Aminu Way, Jimeta-Yola, Adamawa State.

BAUCHI: Ground Floor, Nicon House, No. 26, Ahmed Abdulkadirr Road, Bauchi State.

AKWA IBOM: 131, Udo Umana Road, Upo-Akwa Ibom State.

CROSS RIVER: 10, Calabar Road, Okoi Arikpo House, 3rd Floor, M/M Way by central bank.

ONDO: 87, Alagbaka Quarters, Akure.

DELTA: Along Anwai/lllah Okpanam Road, Opp. Ministry of Works, P.M.B 95095, Asava –
Delta State.

KWARA: Adama Sa’adu’s House, Ahmodu Bello Way, Ilorin, Kwara State.

KANO: 52, Unity Road, Kano.

PLATEAU: 21 Muritala Muhammed Way, Jos, Plateau State.

SOKOTO: 3, Sultan Ibrahim Dasuki Road, Sokoto.

BENUE: 37, Barracks Road, Majkurdi, Benue State.

KADUNA: 22, Bida Road, National Bank Building, Kaduna.

NOTE: Walk into the nearest branch to you and ask for name reservation form. It costs just Two
hundred Naira only. You will be given a receipt and a form. On the form, you will be asked to
fill in a few details. Detail like: Your Name, your Address, your Desired Business names. A
space to fill the type of Business you want to register (choose enterprises/business name). You
will be required to choose two business names. The reason is that if one is not available they can
reserve the other for you. If none of them is available, you will need to do it all over again. You
will have to pay the N200 again and you will have to wait for the result.

The little problem with doing this yourself is that if you do not know the secrets of going
about it, you will spend months trying to get your business name registered.

HOW TO CHOOSE A NAME FOR YOUR BUSINESS

What you need to do is to choose a name no one else would have chosen. Now, you have to be
smart and ingenious about it. If you choose just any name, I can assure you some one has register
it. Therefore, the name you choose must be genuinely created by you. Do not copy or twist any
already existing names. Make sure your business name is unique. Think hard before you submit
the name for screening.

WHAT TO DO IF THE NAME SUBMITTED WERE TAKEN?

You should be prepared so that when the result come out, you will be prepared to register
immediately if your first choice of business name has been previously registered by someone
else.

1. Prepare two passport photographs
2. A stapler
3. Detail of a partner (You cannot register alone add someone, anyone)
4. The partner’s photographs
5. Your Address (you can use your home address)
6. Telephone number (use GSM)
7. Local Government Area

When name reservation results come out what people normally do is to start studying the new
documents they are provided provided with it fill. therefore if you prepare early,. you will get
your registration done once the result are out


WHY BUSINESS NAME GET REJECTED?

CAC requires that you state what your business is all about. You have to state at least one thing.
The maximum is three. This is where a most people waste time, For example, lets say you are
into information marketing and you filled in the form the following as business object.

* Internet marketing
* Information marketing
* Direct marketing
Your form will be rejected and it will have to be refilled and returned, a situation that will be
repeated for many times if you do not know how to go about it. You have to be detailed on what
your business is all about.

LAID DOWN BUSINESS OBJECTS

There are some kinds of laid down business object that are allowed for business name. It is up to
you to find an object that best describe what your business is about.

Here are the objects allowed by the CAC…

Advertising/ public relations
Agricultural produce
Agricultural machines and allied products
Alternative medical practice
Aluminum manufacturing
Architects/town planners
Auto dealers
Auto mechanics and rewiring services
Auto spare parts dealers
Bakery and fast foods
Beautify industry (salon, pedic, manic, barbing etc)
Bookshops/stationery stores
Car washing services
Carpentry/Woodworks
Chattered secretaries
Commission agents
Computer training, sales and services
Cosmetic manufacturers/dealers
Daycare centre
Dealers and distributors
Electrical/electronics equipments dealers
Entertainment industry/events managers
Estate agency/maintenance
Fashion Designers
Fish farming/fisheries
Food products and processing
General construction (build/civil engr. contractors)
General contracts
General merchandise/ trading
General tax consultants
Guidance and counseling
Gymnastics and stress management
Horticulture/land scaping / equipment
Hospitals/ clinics
Hotels and hospitality industry
Human resources manager
Import and export of goods and services
Interior and exterior decorations
Internet service provider (cyber cafe)
Jewelers
Land and quantity surveyors
Laundry and dry clean inning services
Legal practice and consultancy
Livestock management
Management consultants
Maternity homes
Mechanics and weldering
Medical and pharm. Products (manuf., sales and services)
Medical services and laboratory
Others
Patient medicine store and chemist
Petroleum product sales and distribution
Pharmaceutical manufacture and services
Photography and photo equipments
Plastic manufacturing
Poultry farming
Printing and publishing
Restaurants and catering services
Road transportation
Schools (nursery, primary and secondary schools)
Supermarkets and departmental store
Textile manufacturer and distributors
Travel agents
Veterinary clinic /services
Waterworks and borehole drillers

Most businesses will fall under one of these, if not, just use General Merchandise.

Once you name reservation is out, speak to any officer in the CAC office. You will be given a
file and some document to fill. In some CAC branches, they would have given you these form
and file right from the first day you apply for name reservation. You can fill the form right away
with your name, phone number, address including LGA, partners details, passport photographs
(you will staple it and make sure you write your name behind the passport and sign there). After
you have done filling the documents, you can then submit for what is called “verification” you
just need to submit, it is no longer in your hands.

Depending on the CAC branch you go to the verification time is vary. It is usually done within
an hour so it is something you can wait for. You can ask them there, so they can tell you how
long it will take. Maximum a day
What they look for at the verification process are things like your objects, how you filled the
form and so on. It you fill everything properly, your verification process will be a smooth, one
time thing.

Once you pass the verification process you will be required to pay your registration fees. As at
the time of typing these, it cost N 4, 000 for your registration. You can ask for the current price.
Right at there office, you will pay the fee and obtain a receipt you will submit your files and
documents (because they will return it after the verification). You will be ask to come back in
about one week for your certificate.

ON COMPLETION

You will be asked to sign. They will give you certificate as well as some other document you can
keep. You will need such document like when you want to open company bank account. That is
it. You can register as many as possible and you can even make money registering it for others
for a fee of about N10,000 to N15,000 each depending on negotiation between your client and
you.

If you need further answer, ask them on our facebook page @
http://www.facebook.com/pages/Naija-Jobs/225135530830104 . Please note, we are not a CAC
agent.


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