Forms For 250,000 Free Business Name Registration Not For Sell, CAC Warns Aggregators

The Corporate Affairs Commision has said that the form for the recently announced registration of 250, 000 businesses is not for sale.

The commission said this on Monday to safeguard intending applicants from possible exploitation.

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“Please click on the link below to download the Form for the Free Federal Government Business Name Registration. Form not for sale!!!,” the commission said.

THE WHISTLER gathered from responses that some aggregators collect up to N3,000 for the form.

This is about 30 per cent of the N10,000 average cost of registering business by the commission.

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The commission will register 6,606 names in each of the 34 states, Abuja will have 7,906, Lagos 9,084 and Kano 8,406.

The Federal Government sees this as a measure to address concerns of the country’s rising unemployment and economic hardship.

But intending applicants have alleged aggregators were hijacking the scheme by selling slots to family and friends.

Prior to the Monday release, the commission set up aggregators across the country to fast-track the process.

The government said the free business registration will help Nigerians who can not afford the cost of registering their business.

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With the advantage of formalising successfully registered businesses across the country, the newly registered businesses can qualify for special categories of government interventions.

The government also targets to invest N75bn on Nigerian youths between 2020 to 2023 through the Nigerian Youth Investment Fund where youth owned formal enterprises  can access up to  N3m.

The amount is against the N250,000 maximum for unregistered businesses.

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