CAC Business Name Registration in 2026: Cost, Requirements and Steps

Registering a business name is the step that turns a side hustle into something a bank, a corporate client or a government agency will deal with. It is also the step most surrounded by out-of-date numbers. Search for the cost today and most of the top results still say ₦10,000 or ₦11,000. That was true before the Corporate Affairs Commission’s new fee schedule; it is not true now.

Last checked 15 October 2026. Fees are from the CAC New Schedule of Fees in the Federal Government Official Gazette No. 92 of 29 May 2025. Stamp duty is from the Ninth Schedule to the Nigeria Tax Act 2025.

What it costs: the gazetted fees

Two things in that table surprise people. First, a business name is now more expensive than the smallest limited company in CAC fees alone — ₦20,000 against ₦10,000 — although the company also pays stamp duty and, in practice, an agent. Second, the remita payment adds a small gateway charge on top of each fee, usually well under ₦200, which is why your receipt never matches the round number exactly.

Anything far above these figures is a service charge. Agents are entitled to charge for their time, and for a company their help is usually worth it, but you should know which part of a ₦45,000 quote is the government’s and which part is theirs.

Business name or limited company?

This is the decision to make before you pay anything, because changing later means a second registration.

A useful rule: if you work alone, carry little stock and your clients are individuals or small firms, a business name is enough. If you will hire, borrow, take on investors, or sell to large companies that need contracts signed by a legal entity, register a company. The Nigeria Tax Act 2025 also made companies with turnover of ₦100 million or less and fixed assets of no more than ₦250 million pay 0% company income tax, which removes the old tax argument against incorporating. See company income tax under the new Act.

What you need before you start

• Your National Identification Number (NIN). The portal verifies proprietors through it.
• A valid ID: NIN slip, international passport or driver’s licence.
• A recent passport photograph and a scanned signature for each proprietor or partner.
• Two possible names, in order of preference, and a one-line description of what the business does.
• A business address in Nigeria and the residential address of each proprietor.
• An email address and phone number you check — approvals and queries arrive there.

The steps on the CAC portal

Reservations expire, so file the full registration soon after the name is approved rather than holding it. Most straightforward applications are approved within a few working days; a name that is too close to an existing one, or a mismatch between your typed details and your NIN record, is what usually causes a query.

Registering from abroad

Because the whole process is online, a Nigerian living in the UK, the US or elsewhere can register a business name without flying home. You still need a NIN, a Nigerian business address and a phone number that can receive the portal’s messages, and banks may later want a signatory to appear in person or by video. Foreign-owned companies are a different case with higher capital and investment-registration requirements, so get an accredited agent for those.

What about free registration?

In September 2025 the CAC and SMEDAN announced free registration for 250,000 micro and small businesses, applied for through SMEDAN. It was a time-limited window. Check smedan.gov.ng for whether a new round is open before paying; do not pay anyone who offers to secure a “free” slot.

The week your certificate arrives

1. Retrieve your Tax ID

Your BN number now links to the unified Tax ID. Retrieve it at taxid.nrs.gov.ng under the corporate option — it is free and takes a minute. Banks must ask for a Tax ID before opening or operating an account under section 8 of the Nigeria Tax Administration Act 2025. Full steps are in how to get your Tax ID.

2. Open a business account

Banks typically ask for the certificate, a status report (₦5,000 from the CAC), your Tax ID, BVN and ID for each signatory, a utility bill for the business address and reference forms. Keep business money out of your personal account from day one; it is the single habit that makes tax time painless.

3. Make your first invoice look registered

Put the registered name exactly as on the certificate, your BN number and your Tax ID on every invoice, with your bank details and a clear due date. Clients that deduct withholding tax need your Tax ID to credit it to you. You can do it in ereQa in a few minutes: create a free account, add your business details once, and they appear on every invoice.

Staying registered

A business name must file an annual return every year. The 2025 schedule puts the fee at ₦5,000, with a late-filing penalty of ₦5,000 plus ₦100 for each day of default. That penalty is small per day and large per year, and a long-dormant registration can be struck off. Put the anniversary of your registration in your calendar the day the certificate arrives.

Trading under a name you have not registered, or under a name different from the registered one, is an offence under the Companies and Allied Matters Act 2020. The practical cost is bigger than the legal one: no business account, no Tax ID linked to the business, and no way to sign contracts with clients who check.

This is general information, not legal or tax advice. Fees, forms and bank rules change; confirm with the agency, your bank or a licensed adviser before you rely on a figure.