As part of plans to address the desires of teeming Nigerian youths and business owners, President Muhammadu Buhari has approved free business name registration with the Corporate Affairs Commission (CAC) for 250,000 businesses across the nation.
This was announced on Tuesday evening by the Media aide to the President, Bashir Ahmad.
Ahmad, who took to Twitter today, stated:
President Buhari has approved free business names’ registration for 250k MSMEs nationwide; according to the CAC, 6,606 names in each of the 34 states, Abuja will have 7,906, Lagos 9,084 & Kano 8,406.
The free registration commences today, visit http://cac.gov.ng for details.
This is coming after the CAC, earlier this month, announced that it would begin registering companies within 48 hours, approve names the same day, and ensure 5-day completion for other post-incorporation services not available electronically.
Following the outbreak of the #EndSARS protests and its after-effect, the Federal Government has been working on programmes that are perceived as necessary for addressing the issues of unemployment, which is viewed as a catalyst for the massive turnout during the protests.
The National Economic Council (NEC) has set up a committee to meet the needs and demands of Nigerian youths behind the #EndSARS protests.
The head of the Committee is Vice President Yemi Osinbajo, with one of the frameworks being “A social security framework for the youths and Nigerians to deal with the problem of unemployment and poverty in the country.”
The free business registration coming this period will help businesses that cannot afford the registration fee to get their business registered and timely.
In the meantime, there are concerns from Nigerians over the possibility of accessing the initiative following the disappointments they have faced in the hands of the government.