CAC Registration

The Corporate Affairs Commission (CAC) of Nigeria was established in 1990 vide Companies and Allied Matters Act no 1 (CAMA) 1990 as amended, now on Act cap C20 Laws of Federation of Nigeria.

The Companies and Allied Matters Act, which was published in 1990, created the Corporate Affairs Commission to oversee the creation and administration of businesses in Nigeria.

As long as they are aware of the prerequisites for the incorporation procedure, an individual can now establish a business with CAC.

What is a CAC certificate?

A certificate of incorporation is a document issued by a nation’s regulatory body for corporations (in Nigeria, this is the Corporate Affairs Commission, or CAC), attesting to a company’s legitimacy and existence.

In Nigeria, the CAC, or Corporate Affairs Commission, is in charge of this. The certificate is proof of an entity’s legitimacy as a legal business entity.

In other words, it denotes that the company is not only real but also officially recognized. A business name is also the name that your company uses to conduct business.

The advantages of corporate affairs registration includes;

Employing Personnel, Supplier Arrangements/Government, Contracts, Business Trips Abroad, Opening Business Bank Accounts, Protecting Your Business/Corporate Name, Obtaining Loans, Certificate of Incorporation, Perpetual Succession/Continuity, and Business Name Registration.

The benefit for the company is knowing that within the boundaries of their State, their business name is shielded from rival use.

Companies who register with the state are also protected from legal liabilities. Anyone cannot lawfully pursue the personal assets of the business owner if the company is incorporated.

In compliance with CAMA, the Corporate Affairs Commission was founded as a regulatory authority to oversee the incorporation, operation, and dissolution of businesses, trade names, and incorporated trusts.

You can open a corporate account with any bank of your choice with a registered business if you have CAC certification. As soon as your company is registered, you can apply for loans and grants.

Customers trust you more because they perceive you as trustworthy and legitimate when you register your business.