In a significant move to support entrepreneurship and formalize small enterprises, Nigeria's Corporate Affairs Commission (CAC) has launched an initiative offering free business name registration to 3,500 small businesses nationwide.
The announcement was made by the Registrar-General of the CAC, Hussaini Ishaq Magaji (SAN), during events commemorating the Commission's 35th anniversary in Abuja on Monday. The program aims to reduce financial barriers for micro and small enterprises, often regarded as the backbone of Nigeria's economy, by eliminating registration costs and enabling easier access to formal benefits such as legal recognition, bank accounts, contracts, funding opportunities, and government programs.
“In the spirit of the celebration, the CAC has announced free business name registration for 3,500 small businesses, to be distributed across the 36 states of the federation and the Federal Capital Territory,” the Commission stated.
The initiative promotes equitable access, with slots allocated proportionally across all states and the FCT to ensure inclusive participation. Eligible small business owners can benefit from official registration at no cost, helping them gain credibility and participate more effectively in economic activities.
This comes amid growing business activity in Nigeria, as the CAC now processes nearly 10,000 registration requests daily, a sharp increase from previous years.Small business owners interested in the opportunity are encouraged to monitor official CAC channels for application details and eligibility criteria. The program reflects ongoing efforts to boost the formal economy and empower grassroots entrepreneurs.
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