The Company Affairs Fee (CAC) has issued a stern six-week ultimatum to all companies working with out registration, warning of authorized penalties together with jail time and fines.
In a public discover launched on Tuesday titled “Carrying on Enterprise in Nigeria Below an Unregistered Title or Acronym,” the CAC made it clear that working a enterprise with out formal registration violates the Firms and Allied Issues Act (CAMA) 2020, significantly Part 863.
“Working any type of enterprise entity—whether or not as an organization, restricted legal responsibility partnership, restricted partnership, or enterprise title—with out registration is a legal offence,” the fee warned.
The discover additionally addressed the usage of unregistered names or acronyms, stating this too is in breach of the Act.
The CAC additional cited Part 729, which mandates all registered entities to show their official title and registration quantity at each enterprise location and on all formal publications, together with advertising and marketing and publicity supplies.
READ ALSO: CAC Deregisters 300,000 Firms in One Yr
Non-compliance could result in prosecution, with penalties together with imprisonment for as much as two years.
Moreover, Part 862(1) outlines that knowingly submitting false data in paperwork required underneath the Act may appeal to related jail phrases and each day fines for every day the violation persists.
This announcement serves as a name to motion for enterprise operators throughout the nation, because the fee reiterated that enforcement actions—together with prosecution—will start on the finish of the six-week grace interval.
The CAC’s transfer alerts a broader effort to formalize Nigeria’s enterprise surroundings and guarantee larger accountability throughout sectors.
