Osinbajo extends 50% registration fee for businesses.

business registration fee extension

Osinbajo extends 50% registration fee for businesses.

Vice President Yemi Osibanjo has directed the Corporate Affairs Commission (CAC) to further extend the registration of business names at N5, 000 by 90 days from May 13 (today) to August 13, 2019.

  This is to give Micro, Small and Medium Scale Enterprises (MSMEs) that could not register their businesses in the first and second phases of the Business Incentive Strategy (BIS) opportunity to do so.

  Acting Registrar General of CAC, Azuka Azinge, disclosed this in a statement issued by its Head, Public Affairs, Moses Adeguusu, in Abuja.

  Under it’s Business Incentive Strategy (BIS), the commission had reduced the cost of business names registration from N10, 000 to N5, 000 for three months beginning from October 1 to December 31, 2018.

  Azinge said upon expiration of the initial three months window, CAC received several requests from stakeholders and the public and therefore, extended it for another three months from January 1 to March 31, 2019, due to popular demand, particularly from state governments.

  She said the latest extension will deepen the success achieved in the first and second phases and will run from Monday, May 13 (today) to August 13, 2019, and charged members of the public to take advantage of the extension window to register their business names.

  They could either do so themselves online by logging on to the commission’s website: www.cac.gov.ng or visit any of its offices nationwide.

  Azinge also disclosed that the Companies and Allied Matters Amendment (CAMA) Bill had since been passed by the National Assembly and awaiting the President’s assent.

   Meanwhile, Osinbajo will on June 25 open the Osun State economic summit to reposition its economy and showcase its business potentials to local and foreign investors.

  This is in fulfillment of Governor Gboyega Oyetola’s promise for the economic summit in his inauguration speech on November 27, 2018.

  He said: “The multi-stage, multi-stakeholder summit will dissect and recommend strategies which will drive meaningful youth employment, enhance food security, agricultural development, activate mining prospects and boost tourism potentials of this state”

  A statement issued by Chief Press Secretary (CPS) to the Governor, Adeniyi Adesina, quoted his Chief of Staff (COS), Dr. Charles Diji Akinola, as saying that the three-day economic and investment summit will hold between June 25 and 27 in Osogbo.