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9 reason why should register your NGO with CAC

If you are currently running an organization that is unregistered with the Corporate Affairs Commission or have interest in the advancement of a political, educational, religious, literary, scientific, social/cultural development, sporting or charitable causes, or just looking to establish a Non-Governmental Organization (“NGO”);

here are the advantages and benefits you can derive from registering an NGO under Part “C” of the Companies and Allied Matter Act, Cap C20 Laws of the Federation of Nigeria 2010.
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1. Right to Acquire Assets. When your organization is formally registered with the Corporate Affairs Commission by way of incorporation, it then becomes entitled to acquire land, own fixed assets and/or incur liabilities under its common seal.
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It is illegal for an unregistered organization to buy, hold or sell land anywhere in Nigeria.

2. Protection from Personal Liability. You can buy, acquire and register stakes and assets in the name of your NGO.
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This is a very smart way of protecting yourself from unlimited liability for untoward happening such as bankruptcy, foreclosure, judgment debt, or divorce etc.
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Assets and property registered in the name of your NGO can never be targeted or attached for the satisfaction of any unsettled debts, nor can it be used for court settlement in a divorce proceeding.

You are better off outsmarting an ugly situation in future than be sorry!

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3. Corporate Entity. As a corporate body, your organization’s dealings and engagements with the public will improve. The NGO can sue to enforce its legal rights or be sued through its registered trustees.

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4. Structured Financial Plan. Having an NGO can afford a tax-free mechanism for activities you are carrying-on under the NGO.

NGOs are deemed not-for-profit and tax exempted. You can develop a structured financial plan that allows the organization to do business devoid of tax liabilities. This is called “tax avoidance”.
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Tax avoidance is a legitimate way of reducing or eliminating your tax obligation. Tax avoidance is not “tax evasion” which is illegal!

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5. Stability. The registration of your organization can suggest that there is effective and responsible leadership in place. The public will perceive same as being stable than an unregistered organization.
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Political parties, government, donor agencies, financial institutions, charity organizations and other NGOs will want to partner with a registered body to further common objectives

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CEO Al-hadady Business Konsult LTD