₦airaland Forum

Welcome, Guest: RegisterLoginWith GoogleTrendingRecentNew

Stats: 3,327,173 members, 8,429,630 topics. Date: Friday, 19 June 2026 at 08:42 AM

Toggle theme

Why You May Lose Your Unregistered Online Business! - Business (2) - Nairaland

Nairaland ForumNairaland GeneralBusinessWhy You May Lose Your Unregistered Online Business! (8469 Views)

1 2 3 Reply (Go Down)

Re: Why You May Lose Your Unregistered Online Business! by Nobody: 4:34pm On Jan 21, 2019
Someone brought my attention to this matter today.. Anyways I've created my account and would reserve and register my business name soon. Thsnks
Re: Why You May Lose Your Unregistered Online Business! by Nickisindigo(m): 4:37pm On Jan 21, 2019
I noticed some comments talking about the 5k for registration. let me correct you that 5k is for name reservation not the actual company registration thanks
Re: Why You May Lose Your Unregistered Online Business! by OurworkComNg1: 4:42pm On Jan 21, 2019
[quote author=babaonpoint post=74850276][/quote]Nice article sir. I want to ask, can business name open a bank account?? thanks...
Re: Why You May Lose Your Unregistered Online Business! by Nobody: 4:58pm On Jan 21, 2019
eastTKBorn:
I Did mine too on December... But I don't think the promo is still on
It's still on
Re: Why You May Lose Your Unregistered Online Business! by Nobody: 4:59pm On Jan 21, 2019
Nickisindigo:
I noticed some comments talking about the 5k for registration. let me correct you that 5k is for name reservation not the actual company registration thanks
Actually name reservation is 500 naira.
Re: Why You May Lose Your Unregistered Online Business! by Nobody: 4:59pm On Jan 21, 2019
klens:
how can I go about it really need to register mine
Use a lawyer it is more genuine and smooth.
Re: Why You May Lose Your Unregistered Online Business! by Nobody: 5:01pm On Jan 21, 2019
Lordkross:
Saw this yesterday but battling to understand what the #5,000 is for. Was it for the Ltd or Enterprise? I registered a name with the limited at the end. Please explain @Olafimix
Thanks
Enterprise is for the 5k but for Ltd, your registration has to do with the amount of share capital.

The higher the share capital the higher the amount of registration.
Re: Why You May Lose Your Unregistered Online Business! by Powerexpert: 5:57pm On Jan 21, 2019
Registering a business should be weighed with the line of business you run.

All information you need for registration is available on cac site. (www.cac.gov.ng)

#5000 extends till March for Business name.
#500 for name reservation after an extensive name search hurdle is past.
#15500 for ltd.

You will need a memart anyway for your business.

As a blogger what are you registering for?

Online presence is the most important thing as it reduces your running cost.

This is not in anyway to discourage anybody but weigh your business before you get caught in the web.

Pay your tax too.
Re: Why You May Lose Your Unregistered Online Business! by jefy(m): 6:33pm On Jan 21, 2019
Hum,nice post.....
It's proper to register ur biz name. It secures ur biz name,allows u obtain a tin number for corporate account opening and allows u bid for contracts.
NOTE: for biz name reg,u may not need d services of a lawyer. I officially reg my biz name with c.a.c dec 14th. Picked up d certificate last week wednesday. Did another name reservation via cac web portal yesterday sunday with my master card. Name approved today.. NOTE: Am doing biz name reg nw,d names will be upgraded to an LTD later on. Doing this now just to secure d name.
STEPS
*log into ur c.a.c portal. Google d c.a.c online portal for ease.
*register on d platform like u do on say Jumia et al to create an online acct
*do a free name search to see if ur biz name is taken.
*proceed to name reservation. Its #500 plus service charge on ur acct almost #500+
* within two working days,u shld receive an email 4rm c.a.c indicating whether ur name reservation was successful or not
*if approved,log into ur c.a.c acct on their portal and print out ur approval note and receipt of payment of ur reservation fee. A code will be generated 4 u,keep it safe to complete d process later on.
*with ur code above,register ur biz name. Complete d online form.
*make payment of #5k plus service charges.
*print out c.a.c for ,fill form along with ur passport. If u hv partners,they do same. Sign,input date.
*take form to d nearest high court etc locate commissioner of oats office and get them stamp and sign ur document.it's #1,500 in p.h
*take ur form and upload bk to c.a.c portal
*print out ur payment receipt for registration from ur online acct on c.a.c
* ur done
* wait a few days and check ur mail for c.a.c certificate collection mail. As soon as u get dis, run to d pick up center u filled during reg.
*when at d office, u will notice two heavy records note book at d reception. Just check d front cover for biz tye e.g Business Name B.N or LTD. Pick up d one dat concerns u e.g B.N .Check d date u registed to see if ur certificate is ready.. If ready,call their attension and pick it up,if not,jst go home and return on a later date.
NOTE:
Go along with ur online payment receipts. Name reservation & registration., ur i.d, email note,proficiancy certificate if applicable,ur c.a.c original form,d one u took to court.
That's all
i can help on dis if u are in Port Harcourt 4 a token. Lolz
Re: Why You May Lose Your Unregistered Online Business! by babaonpoint(op): 7:54pm On Jan 21, 2019
OurworkComNg1:
Nice article sir. I want to ask, can business name open a bank account?? thanks...
yes. a duly registered business name can be used to open a bank account
Re: Why You May Lose Your Unregistered Online Business! by ShenTeh(m): 8:01pm On Jan 21, 2019
Sometimes in November last year we started an fashion trading business with a very 'unique' business name,

Expectedly, it passed CAC's name search/reservation. So we duly registered it and went into business full swing.

To test our online presence, I just randomly googled the name and was I shocked!

A seemingly successful outdoor advertising and printing firm in Ibadan, who claims to have been in he business for over 10 years owns the exact name..Another entertainment group also has for herself the same name. Waoh!

If I'd known this earlier, I probably wouldn't use the same name and somehow edge them out of a name they've been with for years..

But I guess they also took the op's advice too late.
Re: Why You May Lose Your Unregistered Online Business! by OLAFIMIX(f): 8:53pm On Jan 21, 2019
Lordkross:
Saw this yesterday but battling to understand what the #5,000 is for. Was it for the Ltd or Enterprise? I registered a name with the limited at the end. Please explain @Olafimix
Thanks
enterprise
Re: Why You May Lose Your Unregistered Online Business! by OurworkComNg1: 7:24am On Jan 22, 2019
babaonpoint:
yes. a duly registered business name can be used to open a bank account
thanks sir. i have another question.

for example, i have an online platform where i transact business called xyz.com.ng .Now, how do i make it known to the public that this online platform xyz.com.ng is under/registered/owned by Abc company that i have just registered. thanks sir...
Re: Why You May Lose Your Unregistered Online Business! by OurworkComNg1: 7:29am On Jan 22, 2019
jefy:
Hum,nice post.....
It's proper to register ur biz name. It secures ur biz name,allows u obtain a tin number for corporate account opening and allows u bid for contracts.
NOTE: for biz name reg,u may not need d services of a lawyer. I officially reg my biz name with c.a.c dec 14th. Picked up d certificate last week wednesday. Did another name reservation via cac web portal yesterday sunday with my master card. Name approved today.. NOTE: Am doing biz name reg nw,d names will be upgraded to an LTD later on. Doing this now just to secure d name.
STEPS
*log into ur c.a.c portal. Google d c.a.c online portal for ease.
*register on d platform like u do on say Jumia et al to create an online acct
*do a free name search to see if ur biz name is taken.
*proceed to name reservation. Its #500 plus service charge on ur acct almost #500+
* within two working days,u shld receive an email 4rm c.a.c indicating whether ur name reservation was successful or not
*if approved,log into ur c.a.c acct on their portal and print out ur approval note and receipt of payment of ur reservation fee. A code will be generated 4 u,keep it safe to complete d process later on.
*with ur code above,register ur biz name. Complete d online form.
*make payment of #5k plus service charges.
*print out c.a.c for ,fill form along with ur passport. If u hv partners,they do same. Sign,input date.
*take form to d nearest high court etc locate commissioner of oats office and get them stamp and sign ur document.it's #1,500 in p.h

*take ur form and upload bk to c.a.c portal
*print out ur payment receipt for registration from ur online acct on c.a.c
* ur done
* wait a few days and check ur mail for c.a.c certificate collection mail. As soon as u get dis, run to d pick up center u filled during reg.
*when at d office, u will notice two heavy records note book at d reception. Just check d front cover for biz tye e.g Business Name B.N or LTD. Pick up d one dat concerns u e.g B.N .Check d date u registed to see if ur certificate is ready.. If ready,call their attension and pick it up,if not,jst go home and return on a later date.
NOTE:
Go along with ur online payment receipts. Name reservation & registration., ur i.d, email note,proficiancy certificate if applicable,ur c.a.c original form,d one u took to court.
That's all
i can help on dis if u are in Port Harcourt 4 a token. Lolz
hello sir, i dont understand the bolded part. is this a new rule to business name registration??
Re: Why You May Lose Your Unregistered Online Business! by shosky1794: 11:43am On Jan 22, 2019
Lovechairman:
Just visit Corporate Affairs Commission's website and sign up I. e ,you'll create an account with them and after you might have done that, then you proceed with Name reservation after the name has been approved then you'll do the registration... It shouldn't take more than seven working days for your certificate to be ready if the registration is properly done
7 days? Are you sure of this bro? Let me start the process straight away then. Thanks
Re: Why You May Lose Your Unregistered Online Business! by jefy(m): 12:08pm On Jan 22, 2019
OurworkComNg1:
hello sir, i dont understand the bolded part. is this a new rule to business name registration??
i don't think so, at the base of the last page of your c.a.c form, there is a space for the signature for commissioner of oats. You have to approach the court to get this done. And at the high court in port harcourt, they registered #1,500 on it.had to pay into d high court's keystone bank account.. It ought to be lesser,at least
#500 . The stamp and signature from the court validates your claimed details since u are under oath.. I may be wrong. A legal practisioner should educate us on this.
Re: Why You May Lose Your Unregistered Online Business! by OurworkComNg1: 2:49pm On Jan 22, 2019
jefy:
i don't think so, at the base of the last page of your c.a.c form, there is a space for the signature for commissioner of oats. You have to approach the court to get this done. And at the high court in port harcourt, they registered #1,500 on it.had to pay into d high court's keystone bank account.. It ought to be lesser,at least
#500 . The stamp and signature from the court validates your claimed details since u are under oath.. I may be wrong. A legal practisioner should educate us on this.
is this for business name registration or for PLC or Ltd?
Re: Why You May Lose Your Unregistered Online Business! by bamasite(m): 3:45pm On Jan 22, 2019
Nice explanation

jefy:
Hum,nice post.....
It's proper to register ur biz name. It secures ur biz name,allows u obtain a tin number for corporate account opening and allows u bid for contracts.
NOTE: for biz name reg,u may not need d services of a lawyer. I officially reg my biz name with c.a.c dec 14th. Picked up d certificate last week wednesday. Did another name reservation via cac web portal yesterday sunday with my master card. Name approved today.. NOTE: Am doing biz name reg nw,d names will be upgraded to an LTD later on. Doing this now just to secure d name.
STEPS
*log into ur c.a.c portal. Google d c.a.c online portal for ease.
*register on d platform like u do on say Jumia et al to create an online acct
*do a free name search to see if ur biz name is taken.
*proceed to name reservation. Its #500 plus service charge on ur acct almost #500+
* within two working days,u shld receive an email 4rm c.a.c indicating whether ur name reservation was successful or not
*if approved,log into ur c.a.c acct on their portal and print out ur approval note and receipt of payment of ur reservation fee. A code will be generated 4 u,keep it safe to complete d process later on.
*with ur code above,register ur biz name. Complete d online form.
*make payment of #5k plus service charges.
*print out c.a.c for ,fill form along with ur passport. If u hv partners,they do same. Sign,input date.
*take form to d nearest high court etc locate commissioner of oats office and get them stamp and sign ur document.it's #1,500 in p.h
*take ur form and upload bk to c.a.c portal
*print out ur payment receipt for registration from ur online acct on c.a.c
* ur done
* wait a few days and check ur mail for c.a.c certificate collection mail. As soon as u get dis, run to d pick up center u filled during reg.
*when at d office, u will notice two heavy records note book at d reception. Just check d front cover for biz tye e.g Business Name B.N or LTD. Pick up d one dat concerns u e.g B.N .Check d date u registed to see if ur certificate is ready.. If ready,call their attension and pick it up,if not,jst go home and return on a later date.
NOTE:
Go along with ur online payment receipts. Name reservation & registration., ur i.d, email note,proficiancy certificate if applicable,ur c.a.c original form,d one u took to court.
That's all
i can help on dis if u are in Port Harcourt 4 a token. Lolz
Re: Why You May Lose Your Unregistered Online Business! by jefy(m): 10:43am On Jan 23, 2019
OurworkComNg1:
is this for business name registration or for PLC or Ltd?
business name
Re: Why You May Lose Your Unregistered Online Business! by OurworkComNg1: 7:51pm On Jan 23, 2019
jefy:
business name
i registered my business name last year and i didn't go to any court to stamp anything
Re: Why You May Lose Your Unregistered Online Business! by jefy(m): 5:16am On Jan 24, 2019
OurworkComNg1:
i registered my business name last year and i didn't go to any court to stamp anything
well,good for you. Did u do it yourself or you went through a barrister? I only narrated the steps i went through..
Re: Why You May Lose Your Unregistered Online Business! by defemidefemi(m): 4:31pm On Feb 06, 2019
OurworkComNg1:
i registered my business name last year and i didn't go to any court to stamp anything
Did u do it yourself or you went through a barrister?
Re: Why You May Lose Your Unregistered Online Business! by defemidefemi(m): 4:31pm On Feb 06, 2019
Plz can you give me examples of what business name should look like
jefy:
well,good for you. Did u do it yourself or you went through a barrister? I only narrated the steps i went through..
Re: Why You May Lose Your Unregistered Online Business! by OLAFIMIX(f): 5:14pm On Feb 06, 2019
Enterprise quote author=defemidefemi post=75476886]Plz, how do a reg name look like? I want to know if it ends with co, Ltd, can you pls give an example of a reg name as it will appear on the certificate. Thanks.[/quote]
Re: Why You May Lose Your Unregistered Online Business! by jefy(m): 7:15am On Feb 07, 2019
defemidefemi:
Plz can you give me examples of what business name should look like
a business name is your normal company name without the abbreviations PLC,LLC,INC,LTD etc example of a business name: Femi and Sons cleaning services, Femi Global Resource, JeanJack Spar and Beauti shop, Jeanjack Schools etc. The above are all Business Names that can be registered, they can also be registered or upgraded to the status of a LTD or Inc depending on your business needs. Sole proprietors,Partnership,schools,churches etc often register their businesses as Business Name (BN) so their business name will be secured, recognized legally by the government,can open corporate accounts etc. Hope i answed ur ?
Re: Why You May Lose Your Unregistered Online Business! by jefy(m): 8:16am On Feb 09, 2019
defemidefemi:
After the registration of business name, are you paying any money to the government every year? if yes how much and what is the money called ?
No,you dont pay for mere Business Name registration. I may be wrong because i need clarification in this regard.. But you must apply for Tax Identification No (TIN NO) in order for you to open a corporate acct with your business name. E.g
BANK: FCMB
Acct Name: Femi consultancy services
Acct No:0000...
Back to the question: you obtaining a TIN NO or VAT Value Added Tax Number,puts your business on the state's inland revenue service data base or the Federal Inland revenue service as the case may be. Hence you will or may be taxed( you pay to government annually. Please, those with vast knowledge in this topic should please educate us,let's be well guided. Thanks
Re: Why You May Lose Your Unregistered Online Business! by jefy(m): 1:47pm On Feb 09, 2019
defemidefemi:
After the registration of business name, are you paying any money to the government every year? if yes how much and what is the money called ?
defemidefemi:
After the registration of business name, are you paying any money to the government every year? if yes how much and what is the money called ?
No,you dont pay for mere Business Name registration. I may be wrong because i need clarification in this regard.. But you must apply for Tax Identification No (TIN NO) in order for you to open a corporate acct with your business name. E.g
BANK: FCMB
Acct Name: Femi consultancy services
Acct No:0000...
Back to the question: you obtaining a TIN NO or VAT Value Added Tax Number,puts your business on the state's inland revenue service data base or the Federal Inland revenue service as the case may be. Hence you will or may be taxed( you pay to government annually. Please, those with vast knowledge in this topic should please educate us,let's be well guided. Thanks
Re: Why You May Lose Your Unregistered Online Business! by Lordkross(m): 11:23am On Feb 13, 2019
OLAFIMIX:
enterprise
OK thanks. Registered and received mine, Thanks a lot.
Re: Why You May Lose Your Unregistered Online Business! by OLAFIMIX(f): 7:51pm On Feb 13, 2019
Lordkross:
OK thanks. Registered and received mine, Thanks a lot.
Congrats....... What are you into
1 2 3 Reply

CBN May Lose Control Of The Naira - Punch Editorial BoardWhy Nigerian Shipowners May Lose Out From $19bn Dangote RefineryNigeria Takes Action Against Unregistered Online Money Lenders234

Boosting Nigeria’s Non-oil Export: Neveah’s World-class 44,000 MT Recycling PlanCBN Begins Grassroot Enaira Adoption With 7,740 Agent PointsWhen Was The Last Time You Used An ATM?