If you're running a business in Nigeria without a registered name, you can't open a corporate bank account, bid for most contracts, or protect your brand from someone else registering it first. The good news: registering a business name with the Corporate Affairs Commission (CAC) is now one of the fastest and most affordable legal steps you can take, and it's fully digital. Here's exactly what it costs and how it works in 2026.
What Is a "Business Name" (and Who It's For)
A business name sometimes called an enterprise or sole proprietorship registration is the simplest legal structure available in Nigeria. It suits:
- Sole traders, freelancers, and consultants
- Small partnerships
- Traders and artisans who need to issue invoices or open a business bank account
- Entrepreneurs testing an idea before committing to a full limited liability company
It does not separate your personal and business liabilities the way a limited company does. If that matters for your business say you're taking on investors or want protection from personal liability see our comparison: Business Name vs. Limited Company: Which Should You Register?
2026 CAC Registration Costs
| Item | Cost |
|---|---|
| Business name registration (government fee) | ₦10,000 |
| Name reservation/search fee | ₦500 – ₦1,000 |
| Total government cost | ≈ ₦11,000 |
| With an accredited agent (professional fee added) | ₦15,000 – ₦35,000 |
For comparison, registering a private limited company with the standard ₦100,000 minimum share capital costs roughly ₦30,000–₦35,000 in CAC and stamp duty fees on a DIY basis, or ₦60,000–₦100,000+ through an agent, a useful benchmark if you're deciding between the two structures. Full details are in our CAC private limited company registration guide.
Step-by-Step: How to Register Your Business Name
- Search and reserve your name on the CAC public search portal to confirm it isn't already taken.
- Complete the online registration form with your business details, including your proposed business activity, address, and the particulars of the proprietor(s) or partners.
- Upload supporting documents typically a valid means of identification and a passport photograph for each proprietor/partner.
- Pay the registration fee online through the CAC portal using an approved payment channel.
- Wait for approval and download your certificate. Business name registrations typically complete within 24–72 hours once documents are approved, much faster than the multi-week waits of a few years ago.
What You Get and What Comes Next
Once registered, your business name allows you to:
- Open a corporate business bank account
- Sign contracts and bid for tenders that require legal registration
- Apply for a Tax Identification Number (TIN) see our guide on how to get a TIN in Nigeria
- Access CAC-linked government and financing programmes, including SMEDAN's small business support schemes
Registered businesses are also required to file annual returns to stay compliant typically costing ₦3,000–₦5,000 and failing to file for an extended period can attract penalties or affect your business's active status.
The Free Registration Option: CAC - SMEDAN Scheme
In a partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the CAC has run registration cycles that waive statutory fees entirely for eligible micro and small businesses, aiming to bring hundreds of thousands of informal businesses into the formal economy at no cost. New windows open periodically rather than continuously, so it's worth checking the SMEDAN portal directly if cost is your main barrier to registering. We cover how to apply in CAC-SMEDAN Free Business Registration: How to Apply.
A Note on the 2026 TIN Update
As of 2026, a newly issued CAC registration number (RC number) automatically doubles as your business's Tax Identification Number you no longer need a separate registration step with the tax authority for a fresh CAC registration. This is a meaningful simplification from previous years, when TIN registration was a distinct process entirely. See TIN guide for what this means if you registered before the change.
Frequently Asked Questions
How much does CAC business name registration cost in 2026? The official government cost is approximately ₦11,000 (₦10,000 registration + ₦500–₦1,000 name reservation). Using an accredited agent typically brings the realistic total to ₦15,000–₦35,000.
How long does CAC business name registration take? Usually 24–72 hours once your documents are submitted and approved, since the entire process is online.
Do I need a lawyer to register a business name? No. You can register directly on the CAC portal yourself. An agent or lawyer can help if you'd rather not navigate the forms yourself, at an added cost.
Is CAC registration free for small businesses? Not by default, but the CAC–SMEDAN partnership periodically opens free registration windows for eligible micro and small businesses, check the SMEDAN portal for the current status.
Does my CAC registration automatically give me a TIN? Yes, for new registrations from 2026 onward, your RC number doubles as your TIN. Businesses registered earlier may still need to register separately with FIRS.
More on Business Guides