The Corporate Affairs Commission (CAC) has issued a six-week ultimatum to all unregistered businesses in Nigeria to comply with the mandatory registration requirements or face legal consequences, including imprisonment.
In a public notice released on Tuesday titled “Carrying on Business in Nigeria Under an Unregistered Name or Acronym,” the CAC warned that it is a criminal offence under Section 863 of the Companies and Allied Matters Act (CAMA) 2020 to operate any business,be it a company, limited liability partnership, or sole proprietorship,without proper registration.
The commission emphasized that failure to comply could lead to prosecution, a conviction, and a penalty of up to two years in prison.
According to the notice, businesses are also required by Section 729 of CAMA to visibly display their registered name and number at all business premises and include them on all official materials such as letterheads, marketing content, and signage.
“Knowingly making false statements in any official business documentation is also punishable under Section 862 (1) with a two-year jail term and daily fines for each day the offence continues,” the statement added.
The CAC urged all affected businesses to regularize their status within the six-week grace period to avoid enforcement actions.
