What is CAC ?

The Corporate Affairs Commission(CAC)is a regulatory body, established to regulate the incorporation, running and winding up of companies, business names and incorporated trustees, in accordance with CAMA.

CAMA means Companies and Allied Matters Act

Corporate Affairs Commission is a body of the Nigerian Government responsible for the regulation and management of companies in Nigeria.

What is CAC Business Registration?

Corporate Affairs Commission business registration is the act of rendering a services to help business owners legalize and authorize their businesses,companies and NGO's in Nigeria.

Basically, We have 3 major categories:

Business Name(Enterprises and Ventures)BN

Limited Liability Company(RC)

Incorporated Trustees (NGO) IT

Many small businesses, especially online entrepreneurs in Nigeria, are not (or do not have their businesses) registered with the Corporate Affairs Commission (CAC) despite being in business for a year or more.

They conclude transactions using an unregistered “business” name but when it is time for payment by customers or clients, they receive payment with their personal bank accounts.

Please note that the nonregistration of a business is a big turn off and disadvantage to its owners in many ways.

1. Business Expansion: At a particular point, every business will need to scale, even if it is through private equity.

A business must be registered with the CAC to receive loan from many major investors or lenders.

To expand your business, you may need investors to inject funds into the business and many investors usually insist on seeing corporate documents including certificate of incorporation and proof of regulatory license, amongst others.

2. Operational license: Apart from professional license which is grantable to individuals, a business license is usually granted to a registered business that meets stipulated requirements for the relevant license. Also, without proof of certificate of incorporation, application for a business license may not succeed.

3. Liability for Debts and other Civil Wrongs: Another important advantage of registration of company is that it limits the risk of its shareholders liability. It may be strange to nonlawyers to learn that if your company is registered, you may not be liable for the debt or other civil liabilities of the company except the to the extent of the number of shares taken or bought by you (the shareholder).

This means when the company falls into debt, only its assets can be sold or managed to settle the debt; the assets of the company’s shareholders cannot be attached to settle such company’s debt.

4. 4. A Boost to Entrepreneurial Drive: when a company is registered and its directors/shareholders are confident that the company has its own separate legal personality to bear rights and liabilities, this quite naturally boosts the morale and drive of those in charge to pursue maximum profit.

5. 5. Branding Purpose: An incorporated business is better branded than unincorporated one.

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