You can reserve your company’s name on CAC before someone else registered it or reserve it for future registration. The corporate affairs commission charges #500 and #161 making a total of 661 Naira for your CAC name reservation.
You only need to follow a few steps to reserve your company’s name without necessarily register it. For a corporate, LTD, and enterprise, you can reserve your business name before anyone register it.
Once registered, the name will not be available for registration again since you have paid for the name reservation.
I have reserve my company’s name on CAC with just five hundred Naira only by taking advantage of the corporate affairs commission 50% discount.
Note: With the 50% discount you can register a company’s name for as low as 5000 Naira instead of 10,000 for a single man business. The price for corporate and LTD depends and you need to do more to get registered.
How to Create a CAC account
Before you proceed to register your business name you first need to create a user account. Follow the procedures below to create and verify your CAC account.
1. Go to the CAC homepage for registration and tap the register button
2. Enter your detailed information such as first name, surname, middle name, pick a username for registration and password. After that, enter your phone number, email address [You must be able to access it] and enter your contact address.
3. The corporate affairs commission will send a verification link to your email address. Log into your email address and click on the verification button to verify your account.
4. You will be taken back to your CAC dashboard where you begin the name reservation. If you already have a name that you have reserved before you will see it otherwise you will be prompt to reserve a new name before someone else does.
How to go about “CAC Name Reservation
Before you reserve your company’s name, you must be very sure that it has not been registered or reserved. Otherwise, CAC will disapprove the name from being reserved and you will not be able to register it as your company’s name.
1. Log into your corporate affairs commissions account using your username and password.
2. Go to name reservation and click on “new name reservation” from the drop-menu.
3. Select classification and type. Fill the required information that best describes your business and click on save and continue.
4. After step 4, you will be taken to the payment page. Select remitter and set payment option. I will advise you to go with the card as your payment method.
5. Enter your card information and click on submit. Upon submission, you CAC name reservation fee will be charged.
6. Wait for a couple of days, if the name is approved, the pending status will change to approve and if it’s disapproved, you will be notified.
Note: The corporate affairs commission reserve the right to approve and disapprove your company’s name.
Note 2: Before you reserve your company’s name make sure you do a name search whether the name is available or not so that your business name will not be disapproved.
Note 3: The corporate affairs commission name reservation fee is non-refundable.
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