Starting a business in Nigeria requires proper registration with the Corporate Affairs Commission (CAC). One of the simplest and most affordable ways to start is by registering a Business Name—ideal for sole proprietors and partnerships.
Business Name Registration in Nigeria: Requirements, Cost, and Procedure
If you're wondering about the cost, requirements, and process, this comprehensive guide walks you through it all. Plus, discover how SplashDict’s CAC-accredited experts can help you register fast, affordably, and stress-free.
Why Register Your Business Name?
A Business Name is a legal registration for sole proprietors or general partnerships. It allows you to:
✔ Operate legally in Nigeria.
✔ Open a corporate bank account.
✔ Build credibility with customers and partners.
✔ Protect your brand name from unauthorized use.
Note: Unlike an LTD, a Business Name doesn't provide liability protection—the owner is personally responsible for debts.
Eligibility for Business Name Registration
Before registering a Business Name, it's important to ensure that you meet the basic eligibility requirements:
- Must be a Nigerian Citizen or Legal Resident: Only Nigerian citizens or individuals who have legal residency in Nigeria are eligible to register a Business Name. Foreign nationals must first obtain the necessary residency status and permits before engaging in any business activity.
- Must be at Least 18 Years of Age: In order to register a business, you must be at least 18 years old. Exceptions are made for minors who receive a written endorsement from their guardians, along with approval from the Corporate Affairs Commission (CAC).
Requirements for Business Name Registration in Nigeria
Meeting the requirements is crucial for a smooth registration process. Here are the key documents and details you need to prepare:
- Proposed Business Names: Submit at least two (2) name options (first choice and alternative) for approval.
- Business Objectives: Describe the nature and objectives of your business.
- Details of Business Owner(s): Provide personal information, such as full name, address, date of birth, nationality, means of identification, occupation, passport photograph, and signature.
Where the registration to be effected is that of a company, the name and registered office of the company. - Business Address: Provide the business address, which can be a home address or a separate business location.
Cost of Business Name Registration in Nigeria
The cost of registering a business name in Nigeria is designed to be affordable, especially for startups, side hustlers, and small-scale businesses looking to operate legally and professionally. Understanding the breakdown of these costs—both statutory and professional—will help you plan your registration process with confidence.
1. Government Filing Fees
These are official CAC (Corporate Affairs Commission) fees payable to the Nigerian government:
Name Reservation Fee:
To reserve your preferred business name, a non-refundable fee of ₦500 is required. This is processed through Remita, and the total charge often amounts to ₦661.25, including Remita service fees.Name Reservation with Restricted Words:
If your proposed name includes restricted or sensitive terms such as “bank,” “trust,” “government,” “charity,” “foundation,” etc., an additional ₦5,000 is charged. This covers the extra review process required for names subject to regulatory scrutiny.Business Name Registration Filing Fee:
Once your name reservation is approved, the actual registration attracts a filing fee. For a sole proprietorship or business name (as opposed to a limited company), this is typically around ₦10,000, which covers the CAC processing and issuance of your:Certificate of Registration
CAC Status Report
2. Professional/Expert Assistance Fees
While the CAC portal allows individuals to register a business name independently, many entrepreneurs prefer to work with professionals to avoid errors, delays, or rejections. This is especially helpful if you're unfamiliar with the process or need personalized support.
Typical Expert Fees in Nigeria:
Professional fees vary based on the service provider’s expertise and level of involvement. On average:
Professional services range from ₦30,000 and above, depending on the complexity of the business structure and additional services provided (e.g., legal advice, address documentation, expedited processing).
SplashDict’s Transparent Pricing:
At SplashDict, we believe in clarity, affordability, and value. Our CAC-accredited experts offer:
Business Name Registration (Sole Proprietorship or General Partnership ): ₦25,000 All-Inclusive
This includes:
Business name reservation
CAC registration
Certificate of Registration
CAC Status Report
TIN (Tax Identification Number)
Documentation and expert filing
No hidden charges. No delays. Just smooth, reliable service from start to finish.
3. Why Pay for Expert Help?
Registering a business name might sound easy, but any mistake—such as submitting incorrect documents, using a disallowed name, or missing a compliance step—can lead to delays, rejections, or loss of money.
By working with SplashDict, you get:
Certified CAC-accredited experts handling your registration
Fast turnaround (2–10 working days)
Accurate and compliant documentation
Personalized guidance and support via phone, WhatsApp, or email
For a modest fee, you save time, reduce stress, and avoid costly mistakes—allowing you to focus on building and growing your business.
Step-by-Step Guide to Registering a Business Name in Nigeria
Registering your business name with the Corporate Affairs Commission (CAC) is essential for legal operation and brand protection. Here's the complete process - and how SplashDict's CAC-accredited experts simplify every step:
1. Choose and Reserve a Business Name
Pick a name that reflects your business and is not already in use. Avoid restricted words like “Government,” “National,” or “Bank.”
Check availability and reserve the name via the CAC portal. Name reservation costs ₦661.25 for standard names, or ₦5,000 for names with restricted terms.
SplashDict handles the entire name search and reservation process for you. We recommend submitting two or three name options in case your first choice is unavailable.
2. Prepare the Required Documents
To register your business name, you’ll need the following:
Full name, phone number, email, and address of the proprietor(s)
Valid ID (NIN, International Passport, Driver’s License, or Voter’s Card)
Business address and a short description of what your business does
With SplashDict, all forms are pre-filled for you—just provide basic details.
3. Complete the CAC Registration Form (BN1)
This form includes:
Proposed business name and address
Nature of business activities
Proprietor or partner details
Mistakes on this form can delay approval. Our team ensures accurate and complete submissions from the start.
4. Pay the CAC Registration Fees
The total cost for registering a business name with CAC (including name reservation) is ₦11,161.25.
SplashDict’s all-inclusive ₦25,000 package covers:
CAC official fees
Expert handling
Unlimited name revisions
Dedicated customer support
No hidden charges.
5. Submit the Application to CAC
We prepare and file your application digitally through the CAC portal. In rare cases, additional verification or physical submission may be required—we handle that too.
With SplashDict, approval typically takes 2 to 10 working days compared to 4 to 6 weeks if you go it alone.
6. Receive Your Registration Documents
Once approved, you’ll receive:
Certificate of Business Name Registration
CAC Status Report
Tax Identification Number (TIN) auto-generated by FIRS
We deliver your documents electronically. You can also request physical copies for an additional fee.
Conclusion
Registering your Business Name is an important step toward building a trusted and legally recognized business in Nigeria. By meeting the requirements and following the correct process, you can get your business up and running quickly.
Choose SplashDict for stress-free CAC Business Name Registration and enjoy professional service, fast processing, and ongoing support.
Register Your Business Name in Nigeria with Ease
Here’s how SplashDict’s CAC-accredited experts assist you:
