How to Register a Business in Nigeria

Nigeria's Corporate Affairs Commission (CAC) manages business registration through its online portal (CAC.gov.ng). Registration is required before opening a business bank account, entering into formal contracts, or applying for most grants and funding programmes. Two primary registration options: Business Name registration (for sole proprietors and partnerships — simpler, cheaper at approximately ₦10,000–₦15,000, but provides no liability protection and is ineligible for most investor-grade funding); and Incorporation as a Private Limited Company (RC number — required for equity investment, most grants, government contracts, and formal banking. Costs approximately ₦15,000–₦50,000 plus share capital documentation depending on registered capital amount). Required documents for CAC incorporation: proposed company name (conduct a name availability search on the CAC portal before applying — common names are frequently taken); names, addresses, and occupations of all directors (minimum two directors required); share allocation and capital structure; a registered office address in Nigeria; a Memorandum and Articles of Association (standard templates are available on the CAC portal or through a registered CAC agent); and a valid government-issued ID for each director. Timeline: CAC name reservation is typically approved within 24–48 hours. Full incorporation, where documents are complete and correctly filed, typically takes 2–5 working days via the online portal. Physical filing through CAC offices takes significantly longer (2–4 weeks). Post-incorporation steps: Tax Identification Number (TIN) registration with the Federal Inland Revenue Service (FIRS) — required for all tax filings, many grant applications, and government procurement; State Internal Revenue Service registration for state taxes; and sector-specific licences (CBN licence for financial services, NAFDAC for food and pharma, PCN for pharmacy operations). Common errors that delay approval: names too similar to existing registered entities; incorrect Standard Industrial Classification code selection; inconsistent director information between documents; and failure to include a physical Nigerian address as registered office. Using a registered CAC accredited agent (available via the CAC portal's agent directory) significantly reduces errors and processing time. --- *Track 1 — I am just starting out · Registering and Setting Up Your Business · Article 13.* Browse related [funding opportunities](/opportunities) on MaxWith filtered to your country and sector.