The Corporate Affairs Commission (CAC) has given unregistered businesses six weeks to register or face legal action.
Businesses Warned Over Non-Compliance
In a public notice released Tuesday, titled “Carrying on Business in Nigeria Under an Unregistered Name or Acronym,” the CAC warned that failure to comply could result in prosecution or a jail term.
The Commission cited Section 863 of the Companies and Allied Matters Act (CAMA) 2020, which makes it a criminal offence to operate a company, limited partnership, or business name without proper registration.
Offenders Risk Jail and Daily Fines
According to the CAC, anyone operating under an unregistered name or acronym risks up to two years’ imprisonment and daily fines until they comply.
Section 862(1) of the Act also states that knowingly making a false statement in official business documents attracts the same penalty.
All Registered Businesses Must Display Legal Details
Additionally, Section 729 mandates all registered businesses to display their registered name and number at business locations and on all official publications, including signage and letterheads.
Enforcement Actions to Follow Deadline
The CAC emphasized that enforcement will begin after the six-week window expires. Non-compliant businesses will face prosecution without further warning.
Business owners should act immediately to register with the CAC and avoid legal consequences. For more information, visit the CAC official website.
