The Corporate Affairs Commission (CAC) has issued a six-week ultimatum to all unregistered businesses in Nigeria to comply with mandatory registration requirements or risk prosecution and jail time.
In a public notice issued on Tuesday, the Commission warned that operating a business without proper registration under the Companies and Allied Matters Act (CAMA) 2020 is a criminal offence, punishable by up to two years imprisonment and daily fines.
The CAC emphasized that it is illegal to conduct business using a name or acronym that is not duly registered. Under Section 863 of CAMA, all companies, limited liability partnerships, and business name operators must register and use their officially approved names in all operations.
Furthermore, Section 729 of the Act mandates that every registered business must clearly display its registered name and number at all business premises and on all official publications — including signage, letterheads, and promotional materials.
The Commission also cited Section 862 (1), warning that anyone who knowingly makes a false statement in official documents faces a two-year jail term, alongside penalties imposed on their business for each day the offence continues.
The CAC urged all business operators to regularize their status within six weeks, noting that enforcement actions will commence immediately after the deadline.
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