Business Name Registration

Business Name Registration

Registration steps for Business Names

Section 574(1) of the Companies and Allied Matters Act 2004 says “ Every firm, individual or corporation required under this Act to be registered shall, within twenty-eight days after the firm, individual or corporation commences the business in respect of which registration is required or within three months of the coming of the firm, the company or individual is situated, as statement in writing in the prescribed form, signed as required by this section and containing the following particulars”

(a) the business name or, if the business is carried on under two or more business names, each of those business names;

(b) the general nature of the business;

(c) the full postal address of the principal place of business;

(d) the full postal address of every other place of business;

(e) where the registration to be effected is that of a firm‐   (i) the present forenames and surname, any former forenames or surname, the nationality and, if that nationality is not the nationality of origin, the nationality of origin, the age, the sex, the usual residence and any other business occupation of each of the individuals who are partners; and   (ii) the corporate name and registered office of such corporation which is a partner;

(f) where the registration to be effected is that of an individual, the present forenames and surname, any former forenames or surnames, the nationality and, if that nationality is not the nationality of origin, the nationality of origin, the age, the sex, the usual residence and any other business occupation of the individual;

(g) where the registration to be effected is that of a company, the name and registered office of the company;

(h) the date of commencement of the business, whether before or after the coming into operation of this Act.

(2) Where the registration to be effected is that of an individual or a firm consisting only of individuals, there shall be submitted to the Registrar copies of the passport photographs of the individual certified in a manner required by the Registrar.

(3) Where the registration to be effected is that of a firm or individual carrying on business on behalf of another individual, firm or corporation whether as nominee or trustee, the statement required by subsection (1) of this section to be furnished shall contain the following particulars in addition to the particulars required by that subsection‐

(a) the present forenames and surname, any former forenames or surname, the nationality and, if that nationality is not the nationality of origin, the nationality of origin and the usual residence of each individual on whose behalf the business is carried on;

(b) the name of each firm or corporation in whose behalf the business is carried on.

(4) Where the registration to be effected is that of a firm or individual carrying on business as general agent for any concern carrying on business outside Nigeria and not having a place of business in Nigeria, the statement required by subsection (1) of this section to be furnished shall, in addition to the particulars required by that subsection, state the name and full postal address of each such concern, provided that in the case of a firm or individual carrying on business as general agent for three or more such concerns, it shall be sufficient to state the fact that the business is so carried on and the countries in which the concerns carryon business.

(5) A statement furnished in accordance with subsections (1) to (4) of this section shall‐

(a) in the case of a statement furnished by an individual, be signed by him;   (b) in the case of a statement furnished by a firm, be signed by each individual who is a partner and by a director or the secretary of each corporation which is partner;

(c) in the case of a company, be signed by a director or the secretary:   Provided that, if the statement is accompanied by a statutory declaration made by any person to the effect that he is a partner of the firm or is a director or the secretary of a corporation which is a partner of the firm, the statement may be signed by that person alone.

(6) A statement furnished in accordance with subsections (1) to (4) of this section by an individual who is a minor or by a firm of which one of the partners is a minor shall, in addition to the requirements of subsection (1) of this section, be signed by a magistrate, legal practitioner or police officer of or above the rank of Assistant Superintendent of Police.

  1. Entry of business name in the register

(1) On receipt by the Registrar of the statement of particulars required to be furnished under section 574 of this Act, he shall, subject to subsection (2) of this section and to the provisions of any regulations made under this Act, cause to be entered in the register the business name of the individual, company or firm and file the statement.

(2) The Registrar shall add to the business name in the register the identification letters of the State which shall be in brackets at the end of the business name, and these shall form part of the business name.

  1. Certificate of registration

(1) On the registration of any firm, company or individual under this Act, the Registrar shall issue a certificate in the prescribed form containing the business name together with the distinguishing State identification letters in brackets at the end of the name.

(2) On the registration of any change in the particulars registered in respect of any firm, company or individual, the Registrar may in his discretion either amend the certificate previously issued or issue a fresh certificate.

(3) A certificate issued under this section shall be sent by registered post or delivered to the firm, company or individual registering, who shall thereupon exhibit and thereafter maintain the same in a conspicuous position at the principal place of the business so registered:

Provided that‐

(a) where a fresh certificate has been issued under subsection (2) of this section, the provisions of this subsection shall apply to such fresh certificate only and not to the certificate originally issued; and

(b) where any certificate has been lost or destroyed or rendered illegible, a copy of such certificate certified by the Registrar may be exhibited in place of the original.

(4) Where a firm, company or individual registered under this Act has more than one place of business, the original certificate shall be exhibited and maintained as required by subsection (3) of this section at the principal place of business and a copy of the certificate certified by the Registrar shall be exhibited and thereafter maintained in a conspicuous position in each of the other places of business.

In compliance with the above law, every firm, individual or corporation must register their business and follow the few basic steps.

STEPS

Steps 1-3 can be completed on the COMPANY REGISTRATION PORTAL (CRP)

Prepare the signed scan copy of your pre-registration documents for upload as follows:

Application form

Filing fee receipt

Means of identification for the proprietor (s)

Upload the scanned documents for processing. http://docupload.cac.gov.ng/docUpload/

Note: Individual/Proprietors can register business names without the services of the legal practitioner, chartered Accountant or Chartered Secretary.

If you require support, please contact ogagavworia@matogconsulting.com or call 08023200801.

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