LAGOS, Nigeria — The Corporate Affairs Commission (CAC) don declare say all unregistered businesses for Nigeria get six weeks to register or risk jail. For statement wey dem release on Tuesday, dem titled am ‘Public Notice: Carrying on Business in Nigeria Under an Unregistered Name or Acronym,’ and dem threaten say go prosecute people wey no go register their businesses within the time frame.
Dem remind the public say e be criminal offence under Section 863 of the Companies and Allied Matters Act, 2020, to operate as company, limited liability partnership, or any business name without proper registration. Section 729 of the Act also talk say every registered company must show their registered name and registration number for everywhere wey dem dey do business.
“The company must also put dem registered name and registration number on all official documents like letterheads, signs, marketing materials, and every kind of publicity material,” the statement add. CAC emphasize say if businesses fail to comply, dem go face criminal prosecution wey fit lead to two years imprisonment.
“Especially, the public suppose sabi Section 862 (1) wey state say any person wey go make false statement for any document wey dey required under the Act fit face two years imprisonment plus daily fine wey go dey imposed on the company as the offence dey continue” dem talk.
Dem also stress say all businesses, including limited partnerships and proprietors, must obey this notice within six weeks. Failure to register go lead to enforcement action and prosecution, dem warn.
