Businesses evolve over time—partners may leave, new ones may join, or sole proprietors might transfer ownership. In Nigeria, the Corporate Affairs Commission (CAC) regulates business name registrations, and any changes in proprietorship or partnership must be formally updated to maintain legal compliance.

How to File Change (Addition / Removal) of Proprietor or Partner of a Business Name with the Corporate Affairs Commission (CAC)

This guide explores the legal framework, step-by-step procedures, required documents, and common challenges when modifying the proprietors or partners of a registered business name.

What Does It Mean to Change Proprietors or Partners in a Business Name?

A Business Name in Nigeria—commonly used for sole proprietorships or partnerships—is legally tied to its proprietor(s) or partner(s). When there is any change in these individuals or their particulars, the business must notify the CAC to ensure the public records reflect the current ownership.

Changes may include:

  • Replacing an existing proprietor.

  • Adding or removing a partner.

The CAC maintains records of the proprietors or partners, including their names, addresses, and other particulars, to ensure transparency and accountability.

Why Change a Proprietor or Partner?

Ownership changes occur for various reasons, including:

  • Personal Decisions: A proprietor or partner retires, relocates, or chooses to exit the business.
  • Life Events: Death of a proprietor or partner, necessitating a transfer or replacement.
  • Business Strategy: Introducing new partners to inject capital, expertise, or resources.
  • Disputes: Resolving conflicts by removing or replacing a partner.
  • Legal Requirements: Correcting errors in registered details or aligning with regulatory changes.

Each scenario requires updating the CAC’s records to reflect the new ownership structure, ensuring legal compliance and operational continuity.

Legal Framework for Changes in Business Name Ownership

Under CAMA 2020 (Section 814), business names must notify the CAC within the stipulated timeframe when:

  • A proprietor/partner leaves or a new one is admitted.
  • Any material change occurs in registered details.

Key Requirements:

  1. CAMA & CAC Regulations – Govern ownership changes; forms must be filed.
  2. Partnership Agreements – May dictate partner changes (if applicable).
  3. Consent – Required from all current owners unless otherwise agreed.
  4. Notification – Must be filed within 14 days (for major changes).
  5. Liability – Partners remain liable for pre-change debts unless released.
  6. Documentation – May include deeds, death certificates, or consent letters.

Non-compliance risks penalties, disputes, or CAC rejection.

Requirements for Changing Proprietor or Partner Details

To change, add, or remove a proprietor or partner in a registered business name in Nigeria, the following documents and steps are required. All filings are now processed online via the CAC Post-Incorporation Portal and must be done by a CAC-accredited agent, such as SplashDict.

1. General Requirements

  • Duly Completed Online Application Form (via CAC portal)

  • Formal Application Letter for the addition or removal of partner(s), signed by relevant parties

  • Updated Annual Returns filed and up to date

  • Payment of CAC Filing Fees

 

2. Identity & Supporting Documentation

  • Valid ID for all new or existing partners (National ID, International Passport Data Page, Driver’s License, or Voter’s Card)

  • Passport-sized photos of new partners (if individuals)

  • Photocopy of Certificate of Incorporation & CTC of Board Resolution (if new partner is a corporate entity)

  • Copy of Partnership Agreement (where applicable)

  • Deed of Change/Affidavit, Marriage Certificate, or Death Certificate (as applicable for evidence of change).

Steps to Change Proprietors or Partners in a Business Name in Nigeria

To change a proprietor's details with the Corporate Affairs Commission (CAC) in Nigeria, follow these clear steps. You’ll need a CAC-accredited agent to complete the process.

  1. Pay All Annual Returns: Ensure your business’s Annual Returns are up to date on the CAC portal to avoid delays.
  2. Log In: Access your company’s post-incorporation portal on the CAC CRP (www.cac.gov.ng) with your credentials.
  3. Select Option: Click ‘Change of Proprietor’ from the left-hand menu.
  4. Start Process: Hit ‘Start the Process’ to open the form.
  5. Enter Details: Fill in accurate info, like the current and new proprietor’s details (e.g., name, ID).
  6. Save: Click ‘Save and Continue’ to store your data.
  7. Review: Check all entered details in the preview to ensure they’re correct.
  8. Pay Fee: Make the required payment via the portal’s payment options.
  9. Upload Documents: Submit clear copies of needed documents, like IDs, payment proof, or agreements.
  10. Submit: Click ‘Submit’ to send your application.

After Submission: Wait for CAC approval, which may take days or weeks. Track your application on the portal. Respond quickly if the CAC requests more info. Only a CAC-accredited agent can handle this process, so hire one if you’re not accredited. Keep copies of all submissions for your records.

Conclusion

Updating the proprietor or partner of your business name in Nigeria is a straightforward process when approached correctly. By ensuring proper documentation and adhering to CAC guidelines, you can seamlessly transfer or restructure ownership.

Change the Proprietor/Partner(s) of Business Name in Nigeria with Ease

Here’s how SplashDict's CAC-accredited experts assist you:

  • Filing & Documentation: We handle all filings and documents for proprietor changes with CAC.

  • Official Update: Receive an updated CAC Status Report reflecting the new proprietor(s).

  • Transparent Pricing: No hidden fees—all CAC filing and handling costs included.

  • Fast Processing: Completed within 2 to 10 business days.

  • Ongoing Support: We assist with future regulatory and statutory needs.

Change your Proprietor(s)
Change in Proprietor - Partners of Business Name