Its possible for them not to know much about online registration coz they still operate manually in most of their zonal officess.

Its better to go through any of their agent, that's wat I did and I'm only waiting for my certificate now

adeoladele:
GUY YOU FORGOT TO MENTION CAC REGISTRATION
READ BELOW

MY BAD EXPERIENCE WITH COOPERATE AFFAIRS COMMISSION
I created an account on CAC portal at services.CAC.gov.ng for registration of my company, I was asked to pay a token of 500 naira for name availability with two names option I made the payment in Diamond bank through REMITA platform the name was denied in the first attempt while they approved it in second attempt with the same process.
I proceeded to pre- registration with the same portal platform, I fill all required information after completion, REMITA reference number was generated for the payment of registration with a fee of #10, 000 which I paid to REMITA through Stanbic bank . CAC refused to confirm my payment on the platform, I made a call to the portal customer care, I was told to go to the CAC office at YABA
On the second day I went to the said place with my international passport, two passport, receipt of REMITA for both reservation of name and registration thinking I will continue my registration from the office, to my great surprise, I was told to go to the account section to confirm the receipt, after confirmation on CAC system, it was said that the receipt is valid but cannot be accepted because the receipt did not indicate my proposed company name.
At this point I knew I was in trouble as I tried to explain how the whole process went but the staff attending to me insisted that was the instruction, I started begging him that I just lost my job, it took me a month to raise the money, he later said I should go and see the zonal head that he is the only one that can help in this situation, on getting to the zonal head office I met the staff chatting as if they were in a market, after pushing me from one officer to another I had to spend about 30-45mins before his secretary could attended to me, she collected my documents and went inside “Oga’s “ office, after 15mins she came back and told me her boss said he doesn’t know anything about online registration and he can’t help that I should write for refund. At this moment I was so helpless.
Both customer service numbers on the portal is switched off, I sent email personally to the portal administrator no acknowledgment, no response.
MY QUESTIONS
1. Is online registration a fraud?
2. Is it possible for the CAC Yaba Zonal head not to know anything about online registration
3. In Nigeria of today is it possible for federal government to refund money.

shotgun22:
your point exactly?

try reading the quote i responded to.

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The importance of registering a business can never be over-emphasized. For one, when it comes to doing serious business, many agencies will never take you serious if your company is not registered.

Secondly, you might have to discover that people and that includes you and I, feel more comfortable paying for services and products into a corporate account with the name of an organization than paying into Individual account. You may have missed an important sale because when your prospect made up his mind to buy, the account number you sent him was an individual account in your name. He thought it too risky because it was a sizable amount involved.

People feel if the account is in a corporate name, the organization can be traced if the transaction went foul. If you register your company, you can use the documents to open a corporate account with less stress.
In this post, you’ll be learning simple steps you can take to register your business name with the corporate affairs commission in less than 21 days.





REQUIREMENTS FOR INCORPORATING A PRIVATE COMPANY IN NIGERIA.
The steps for incorporating a new company at the nation’s registry, The Corporate Affairs Commission, can be summarized in the following 10 steps:
1. Submission of the proposed Company Names to the CAC. This is the first step in the entire process. The promoters of the company must decide on a company name and submit for approval. The government officials reserve the right to approve or deny company names submitted for a number of justifiable reasons – availability, suitability, legality, similarity, etc. It takes an average of 5 business days to get availability results.
2. Details of Directors. Long story short, you will be required to provide the biodata of the Directors of the proposed company. This information include: Full Names, Residential Address, Nationality, Age, Valid Identification Document and Signature of the Directors. The minimum number of directors for a private company is 2 and maximum is 50. There is no maximum for public companies. There are statutory requirements for being a director, one of which is that the directors must not be less than 18 years old.
3. Shareholders/Subscribers. The legal minimum number of shareholders in a private company in Nigeria is 2 and a maximum of 50. The shareholders subscribe to the memorandum and articles of association and are allotted shares in the company.

PS – the shareholders can also double as the directors of the company.
4. Appoint a Company Secretary. Every Nigerian company must appoint a Nigerian Company Secretary, as it has become a legal requirement. The company secretary of a private limited company needs no formal qualifications. It is the directors’ responsibility to ensure he/she has the appropriate knowledge and experience to act as a Secretary of the company. The company secretary could be an in-house person or an outside consultant. Some of the roles of a company secretary include:
a. Maintaining the Statutory Registers;
b. Liaison between the company and the CAC and other relevant government agencies;
c. Providing members and auditors with notice of meetings.
5. Registered Address of the Proposed Company. The company must have a Nigerian business address. This requirement needs no much explanation and not debatable either.
6. Core Areas of the company’s business activities (Nature/Objects of company). Nigerians and Non-Nigerians are allowed to carry on all forms of business provided it’s legal and not in the “Negative List”. If the company will engage in specialist services (Hospital, Consultancy, Schools, Media & Advertising, etc), the directors may need to provide an evidence of professional proficiency. E.g. Certificate of a professional body/trade association, Academic Certificate, or both.
7. Valid Identification. Although this requirement has been stated earlier, it is worthy of mention here again. A photocopy of Identification of all the directors is required. (E.g. National ID card, Data Page of your National Passport, Voter’s Card or Driver’s License).
8. The Company’s Share Capital and Allotment. In simple terms, the share capital of a company (usually in monetary terms), is the amount of capital the subscribers have to carry on the business. The minimum share capital of a private company must not be less than N10, 000:00 (Ten Thousand Naira only) However, for economic reasons, it is advisable that an average Nigerian company incorporate a N1, 000,000: 00 (One Million Naira only) share capital company. A company’s share capital is also industry-dependent. For example, advertising agencies must have at least N10 million as share capital. The law also stipulates a minimum of N10 million share capital for a Nigerian company with foreign ownership. Your regulator or adviser should advice you appropriately. A minimum of 25% of the authorized share capital must be subscribed and paid for.
Once the issue of share capital has been decided on, then the subscribers must also decide on allotting the shares. If there are 2 persons that formed the company, they could share it 50% each.
9. Draft the Memorandum of Understanding and Articles of Association (MEMART). This is a legal document that spells out the business objectives and the framework on which the company intends to run its business within the acceptance of the law. This legal document also shows the particulars of the shareholders and their shares allotment.
10. Payment of Stamp Duty and Statutory Filling Fees. The total fees payable to the Stamp Duty office and the Corporate Affairs Commission is dependent on the company’s share capital.
These are the basic requirements for incorporating a private limited liability company in Nigeria. However, EXPATRIATES are subjected to additional requirements and laws – Nigerian Investments Promotion Act, Immigration Act, Investment and Security Act, and Foreign Exchange and Monitoring Act.

If you require professional assistance to register your company or business name.
deolumike@gmail.com
0818-905-1347

I totally agree with you but to me, number 4 is a major challenge because there are some businesses that only the employer can't run it.

Most guys outside now are only interested in the money and not the work.

shotgun22:
true...directly or indirectly, you've got to be under someone.

Even your customer for your business is your boss.

I agree. Valid points OP.

The CAC officers just wanted to frustrate & discourage you from doing the registration yourself. Because they know that they will not get anything on & from it. They will prefer you go through their agents.

adeoladele:
GUY YOU FORGOT TO MENTION CAC REGISTRATION
READ BELOW

MY BAD EXPERIENCE WITH COOPERATE AFFAIRS COMMISSION
I created an account on CAC portal at services.CAC.gov.ng for registration of my company, I was asked to pay a token of 500 naira for name availability with two names option I made the payment in Diamond bank through REMITA platform the name was denied in the first attempt while they approved it in second attempt with the same process.
I proceeded to pre- registration with the same portal platform, I fill all required information after completion, REMITA reference number was generated for the payment of registration with a fee of #10, 000 which I paid to REMITA through Stanbic bank . CAC refused to confirm my payment on the platform, I made a call to the portal customer care, I was told to go to the CAC office at YABA
On the second day I went to the said place with my international passport, two passport, receipt of REMITA for both reservation of name and registration thinking I will continue my registration from the office, to my great surprise, I was told to go to the account section to confirm the receipt, after confirmation on CAC system, it was said that the receipt is valid but cannot be accepted because the receipt did not indicate my proposed company name.
At this point I knew I was in trouble as I tried to explain how the whole process went but the staff attending to me insisted that was the instruction, I started begging him that I just lost my job, it took me a month to raise the money, he later said I should go and see the zonal head that he is the only one that can help in this situation, on getting to the zonal head office I met the staff chatting as if they were in a market, after pushing me from one officer to another I had to spend about 30-45mins before his secretary could attended to me, she collected my documents and went inside “Oga’s “ office, after 15mins she came back and told me her boss said he doesn’t know anything about online registration and he can’t help that I should write for refund. At this moment I was so helpless.
Both customer service numbers on the portal is switched off, I sent email personally to the portal administrator no acknowledgment, no response.
MY QUESTIONS
1. Is online registration a fraud?
2. Is it possible for the CAC Yaba Zonal head not to know anything about online registration
3. In Nigeria of today is it possible for federal government to refund money.

How I wish this can make front page maybe people In authority can see how government is frustrating young entrepreneurs

Newway2:
The CAC officers just wanted to frustrate & discourage you from doing the registration yourself. Because they know that they will not get anything on & from it. They will prefer you go through their agents.

Success in business requires persistence..

Do or Die attiude..

Let's just pray that the wind of #Change blowing across the land will get to (CAC) them soon. If you go through their agent or a Lawyer or Accountant, you will pay like 70k-100k & they will get their cut from it. This is part of the corruption that has become ingrained in our system.

In Kenya as I learnt, you can register a new company with abt $50 & you can do it by yourself & get it in 1wk. But, in our motherland Nigeria, it's a tug of war.

Well, we won't loose hope yet.

God bless Nigeria & God bless our hustles.

adeoladele:
How I wish this can make front page maybe people In authority can see how government is frustrating young entrepreneurs

very fustrating immediatly their zonal head office claimed he does not know anything about online registration it was as if i should just shot him with guy

Newway2:
Let's just pray that the wind of #Change blowing across the land will get to (CAC) them soon. If you go through their agent or a Lawyer or Accountant, you will pay like 70k-100k & they will get their cut from it. This is part of the corruption that has become ingrained in our system.

In Kenya as I learnt, you can register a new company with abt $50 & you can do it by yourself & get it in 1wk. But, in our motherland Nigeria, it's a tug of war.

Well, we won't loose hope yet.

God bless Nigeria & God bless our hustles.

Hmm very true, No 2 & 3 most especially, everybody can produce something but who will fund and who will buy ? Sigh...

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