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6. Perpetual Succession. This means an NGO got an unlimited lifespan and will continue to exist even if the founder or trustees die or leave the NGO.

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The organization’s existence will only cease if it is formally wound up by the Order of Court. Amongst other benefits, this may allow perpetual succession.

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7. Access to Credit. Registering an NGO can afford access to credit from lenders and financial institutions. You can use a loan facility to promote the organization’s activities, finance a mortgage, acquire land or fixed assets.

Banks will want to see proof of registration with the CAC as condition precedent to giving a loan.

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8. Name Preservation. Once your organization is registered, no one can use the same name or name similar to it throughout Nigeria. This has the benefit of protecting your corporate image and name from unauthorized use.

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9. Opening of corporate bank account: Opening a corporate account with a bank for the NGO may signal the fact that you are transparent.

Some private persons, government, donor agencies and other NGOs will not be comfortable writing you a cheque for your organization in your personal name.

A bank account for the NGO would signal its corporate existence and its readiness to receive donations.

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You need to provide proof that your organization is registered with the Corporate Affairs Commission to be able to open an account with a bank.

it is worthy of note that due to the charitable purpose of NGO or foundation, some incentives are statutorily accrued to such organization.

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.Lastly, tax incentives are granted to NGOs in form of exemption from most forms of taxes i.e. no tax may be levied on any money paid to an NGO such as donations, aids and grants.

NGOs are also exempt from payment of import duty on certain goods meant for charitable or humanitarian purposes as approved by the Minister of Finance.
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Now you have know the reason why should get your NGO register quickly go and take action and ask about it requirements Now

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Hope you get Value?

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