The Corporate Affairs Commission has given all unregistered businesses in Nigeria six weeks to register or face legal action.
In a public notice issued on Tuesday, the commission warned that any business operating without registration could face prosecution or jail time.
“It is a criminal offence under Section 863 of the Companies and Allied Matters Act, 2020, to carry on business in Nigeria without registering with the CAC,” the statement said.
The commission explained that it is also illegal to use a business name or acronym that is not registered under the law.
“All registered businesses must also display their registered name and number at every business location,” the CAC stated.
The notice also said that companies must include their registered name and number on all official documents such as letterheads, signage, marketing, and publicity materials.
The CAC warned that any false information in business documents is also a serious offence.
“Anyone who knowingly makes a false statement in any official company document commits an offence and can be jailed for up to two years,” it said. “A daily fine will also be added for each day the offence continues.”
The CAC urged all companies, limited liability partnerships, limited partnerships, and business owners to meet the registration requirement within six weeks.
“Failure to comply will lead to prosecution and other enforcement actions,” the statement added.
The commission advised the public to take the warning seriously and register their businesses to avoid legal trouble.
