- Choose the right structure first, such as a business name, a limited company or a partnership.
- Use the official CAC channels, and be careful with agents who ask for large unexplained fees.
- After registration, get your tax identification, open a business account and keep records.
The Short Answer
Registering your business gives you a legal identity, helps you open a bank account, build trust with customers and apply for funding. In Nigeria, business registration is handled by the Corporate Affairs Commission (CAC). Steps, forms and fees change, so use the official CAC channels and check current requirements. This guide is general information, not legal advice.
Choose a Business Structure
| Structure | Basic idea |
|---|---|
| Business name | A simple registration for sole owners or partners, with the owner personally responsible |
| Private limited company | A separate legal entity owned by shareholders, with limited liability |
| Partnership or limited partnership | Business run by two or more partners, under the partnership rules |
| Incorporated trustees | For non-profit groups, such as associations and charities |
A lawyer or accountant can help you choose.
The Usual Steps
1. Choose a name and check that it is available and acceptable.
2. Prepare your details, such as the owner or partner information, identification, address and the nature of the business.
3. Submit your application through the official CAC process and pay the official fees.
4. Respond to any queries and wait for approval.
5. Receive your certificate and registration number, and keep copies safe.
After Registration
Get a tax identification number and register for taxes that apply, open a business bank account, keep proper records and file any annual returns that the law requires. Check whether your type of business needs other licences or registrations. Read our guide on business banking alternatives to compare account options.
Beware of Fake Agents
Use official channels or a reputable lawyer, accountant or accredited agent. Avoid people who ask for large unexplained fees, refuse to give receipts or promise approval in a very short time. Always check that your certificate and registration number are genuine.
Think About Your Structure Abroad Too
If you also work with foreign clients or plan to open an account overseas, read our guides on business structures and opening a US business account as a non-US founder.
Keep Your Business in Good Standing
Put key dates in your calendar, update changes in directors or addresses and keep records of income and expenses. Good standing helps with banks, partners and funders.
Action Checklist
- Choose the business structure that fits your goals
- Check that your proposed name is available
- Prepare identification, address and business details
- Apply through official CAC channels and pay official fees
- Keep your certificate and registration number safe
- Get your tax identification and open a business account
- Calendar your annual filing and update changes on time
