ABUJA – The Federal Government has extended the window for registration of business names at the reduced cost of N5,000 by 90 days, to end by March.
Moses Adaguusu, the Deputy Director, Public Affairs, Corporate Affairs Commission, in a statement, said the move was part of efforts to deepen the benefits of government’s reform initiatives and as well as support for the growth of the Micro, Small and Medium Enterprises (MSMEs).
It would be recalled that the commission under its Business Incentive Strategy (BIS) had reduced the cost of business name registration from N10,000 to N5,000 for a period of three months (October 1 to December 31, 2018).
According to Aguusu, the BIS was aimed at creating a window for MSMEs to formalise their businesses which would enable them own corporate account with banks, have access to loans, grants and other government interventions.
Aguusu said upon the expiration of the initial three months window the commission received several requests from states and other agencies seeking extension of the 50% fee reduction promo.
“In view of the benefits of BIS coupled with the demand for extension by stakeholders it became imperative for the Federal Government to further extend the period by another three months (January 1- March 31, 2019) to enable more MSMEs formalise their businesses.
“Following the Commissions request for extension, the Minister of Industry, Trade and Investment graciously approved a three months extension of the BIS for registration of MSMEs from January 1 to March 31, 2019,” the statement reads in parts.
The CAC enjoined members of the public are to take advantage of the extension to register their Business Names at the reduced cost of N5,000 after the name reservation of N500.
According to the statement, members of the public can either; do it themselves online by login on to the Commissions website:www.cac.gov.ng or visit any of the commissions offices nationwide.
The post 50% Reduction In Business Name Registration Cost Extended Till March – FG appeared first on Independent Newspapers Nigeria.
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Author: Chidi Ugwu