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Friday, May 2, 2025

CAC To Arrest Business Owners Operating Without Registration

 



The Corporate Affairs Commission (CAC) has issued a six-week notice to unregistered businesses to register with the Commission as part of requirements of the Companies and Allied Matters Act (CAMA).

In a circular issued on Tuesday in Abuja, the commission said after the ultimatum, it would take necessary action against erring offenders who fail to comply.
“This includes legal action against any company, limited liability partnership, limited partnership or business name found operating without registration or under a name different from its registered identity
“It is a criminal offence under Section 863 of CAMA to carry on business in Nigeria without proper registration or to use a name or acronym other than that under which the entity is legally registered,” it said.
According to the statement, Section 729 of the Act mandates all registered entities to display their registered name and number outside every business location.
It said this should also be displayed on all official publications, including letterheads, signage, and marketing and publicity materials.
It also said Section 862(1) of the Act imposed strict penalties on individuals who knowingly made false statements in any document required under the Act.
It is a criminal offence under Section 863 of CAMA to carry on business in Nigeria without proper registration or to use a name or acronym other than that under which the entity is legally registered,” it said.
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