In February, 2015 Corporate Affairs Commission (CAC) introduced 24 hours online registration platform to fast track its business services to its customers. Despite that effort, Nigeria ranks 169 out of the 190 countries on latest ease of “Doing Business” index, an annual report by the World Bank Group measuring the regulations that enhance business activity.
  Economies are ranked on their ease of doing business. In a desperate move to improve the ranking, on Thursday, November 3 this year, the Registrar of Corporate Affairs Commission Bello Mahmud told his audience at the Presidential Economic Communication Workshop in Abuja; that Nigerians no longer need the help of lawyers to register their companies.
  Poor IT infrastructure, inconsistent government policies, irregular power supply amongst others hinders business activities. Besides, it has been observed that the process of starting a new business in Nigeria is hampered by government bureaucracy, resulting to people resorting to third party agents to help them facilitate the process of business registration. Some of these third parties are touts who would forge documents to facilitate business registration. Consequently some genuine entrepreneurs get duped.
The procedure for company registration is not only complex but may require legal analysis. The stages involved in business registration are: Availability Check and Reservation of Name; Preparing and printing the memorandum and articles of association, and have them stamped by the Federal Inland Revenue Service (FIRS); Signing the declaration of compliance (Form CAC 4) before a Commissioner for Oaths or a Notary Public; make a company seal and pay relevant fees.
The above process involves use of several agencies: Seal makers to prepare company seal, Banks for official payments, Notary public or court for declaration of compliance, Federal Inland Revenue Service for stamp duty, Corporate Affairs Commission for reservation of name, and State tax office
When you register your company or business, you are positioned as a legitimate business owner and also your registered business name is secured and protected just for you. The integrity of an accredited operator gives credence to the process and its product – certificate of registration and incorporation.
  Besides, lawyers provides vital assistance in pre-incorporation advice; preparation of relevant documents; regulatory compliance, post incorporation matters, copyright and trademark advice, lawsuits and liability. CAC accredited agents act as a one-stop shop for business registration.
Ease of doing business in Nigeria needs a holistic approach. It is possible for one to take the time and troubles to get his or her business registered, but a lawyer as CAC accredited professional would do it better and faster.




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