In October 2018, Nigeria’s Vice President, Prof. Yemi Osinbajo (SAN) launched the 50% reduction in the cost of Corporate Affairs Commission of Nigeria’s registration fee under the Business Incentive Strategy (BIS) initiative aimed at enabling MSMEs to formalize their businesses. The reduced cost offer ran from 1st October to 31st December 2018.
Seeing the massive response of Nigerians to this offer, the CAC deemed it wise to extend the offer further to 31st March 2019. People who took this offer were able to register their businesses at 50% off the normal registration fee.
Those who couldn’t make it had to pay the full cost of the registration from 1st April 2019.
For both instances, there was a reservation fee of N500.
The Vice President again graciously gave the directive for this recent extension which runs from 13th May through 13th August 2019. This is to enable small business owners who missed out during the first extension to do so now.
If you are a business owner, this is a golden opportunity for you to make your business a legal entity as there are many benefits of having your business registered.
Do not delay. Go over and register your business with the Corporate Affairs Commission of Nigeria.
If you need guidance, comment below and I’ll respond to every of your questions. Should you want us to help you do the registration as we did for others in the past, you can contact us for help.