The Corporate Affairs Commission (CAC) has given unregistered businesses across Nigeria a six-week window to formalise their operations by registering with the Commission.
CAC, in a statement on Tuesday, warned that those who fail to comply may face legal consequences, including possible imprisonment.
The Commission cited Section 863 of the Companies and Allied Matters Act (CAMA), 2020, noting that running a business in Nigeria without proper registration—whether as a company, limited liability partnership, limited partnership, or under a business name—is a criminal offence.
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CAC added that the same applies to individuals or organisations operating under an unregistered name or acronym.
The Commission also reminded registered companies of their obligation under Section 729 of the Act to visibly display their registered name and registration number at all operational premises.
“In addition, the company is required to state its registered name and registration number on all its official publications, including letterheads, signage, marketing, and publicity materials,” said CAC.
Furthermore, CAC warned that non-compliance may lead to criminal prosecution.
“Offenders could face penalties, including a two-year prison sentence.”
The Commission also referenced Section 862 (1) of the Act, which stipulates that providing false information in documents required under the Act—including corporate publications—constitutes a criminal offence.
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Upon conviction, violators may face up to two years imprisonment and a daily fine for each day the violation persists.
Given the legal implications, the CAC urged all affected entities—whether companies, partnerships, or sole proprietorships—to comply with the relevant sections of the law within the six-week.
The Commission warned that it would take enforcement action, including prosecution, against any defaulters once the deadline lapses.
