Last updated: 13 October 2026. CAC fees and procedures change, and sources do not always agree on the latest amounts, so check the figure shown on the portal at checkout before you pay.
Registering a business name at a glance
- Where: the Corporate Affairs Commission (CAC) online portals, pre.cac.gov.ng and the Intelligent Company Registration Portal (iCRP) at icrp.cac.gov.ng.
- Official cost: most recent reporting puts name reservation at ₦1,000 and business name registration at ₦20,000, plus CAC’s new AI service charges of ₦200 and ₦500, which is about ₦21,700 before a small payment gateway fee. Some guides still quote the older ₦500 and ₦10,000.
- Time: often several working days when your documents are correct. One 2026 guide puts the digital certificate at around seven working days.
- You need: a valid NIN and ID, a passport photograph, your signature, an address and a clear description of your business.
- No agent required: you can register yourself, and you should use only CAC’s official portals or CAC-accredited agents.
Registering your business name gives you a legal identity, lets you open a business bank account and makes you eligible for contracts and loans that informal traders cannot easily get. In Nigeria the process is handled entirely online by the CAC, and it is one of the cheapest and quickest formalities you will do as an entrepreneur. This guide takes you from choosing a name to downloading your certificate, explains what the fees are and why different websites quote different figures, and lists the mistakes that delay applications.
Business Name or Limited Company?
Before you start, decide which structure fits. A business name suits sole traders, freelancers and small partnerships, and it is the simplest and cheapest option. A private limited company is a separate legal entity, which limits the owners’ liability to their share capital and is usually preferred by startups that want investors, but it costs more to set up and maintain.
Step-by-Step: How to Register a Business Name in Nigeria
- Search and reserve your name. Create an account on the CAC portal, check that your preferred name is available and submit two proposed names for reservation. Only one will be approved, and a name that is too similar to an existing one will be rejected. Search carefully first, because a failed reservation can cost you the fee.
- Prepare your documents. Have your NIN and a valid means of identification, a recent passport photograph, a scan of your signature, your residential or business address and a short description of what the business does.
- Complete the registration form. Fill in the business name pre-registration form with your approved name, the nature of the business, the address, the date you will start and your personal details. Make sure every detail matches your ID and NIN exactly.
- Pay the fees. The portal generates the payment and you can pay online. See the cost section below for the current figures.
- Upload your documents and submit. Attach your ID, photograph and signature in the formats the portal asks for, then submit the application.
- Track your application. Follow the status on your dashboard. If the CAC queries anything, respond quickly and correct only what it asks for.
- Download your certificate. Once approved, your certificate and registration details become available digitally.
A reserved name is held for a limited period, commonly given as 60 days, so complete the filing promptly or you will have to repeat the reservation.
How Much Does It Cost in 2026?
The honest answer is that the figure depends on which fee schedule a website is quoting, so here is how the numbers fit together.
- CAC’s AI service charge (official): in a public notice dated 2 April 2026, the CAC announced that from 1 April 2026 name reservation attracts an additional ₦200 and business name registration an additional ₦500. The CAC says these charges do not affect the statutory fees under the Companies Regulations 2021.
- Statutory fees (reported): the most recent reports say the CAC applied a new schedule from October 2025, with name reservation at ₦1,000 and business name registration at ₦20,000. Several 2026 guides still quote the older ₦500 reservation and ₦10,000 registration fee.
- Payment gateway fee: a small Remita charge of roughly ₦161 per transaction has been reported.
Add to that any agent fee if you use one. Agents commonly charge somewhere between about ₦15,000 and ₦50,000 on top of the official fees, depending on the service. You can avoid this entirely by registering yourself. Names containing restricted words can also carry higher reservation charges, so pick a plain, distinctive name.
After you register, remember the recurring costs. Business names are reported to file annual returns at ₦3,000 a year, and since April 2026 the CAC has allowed annual returns for business names to be paid directly on the iCRP portal. Closing a business name has been reported at ₦10,000.
Documents and Details You Will Need
- Your NIN and a valid government-issued ID. See our guide on how to verify your NIN if yours does not match your other documents.
- A clear passport photograph and a scanned copy of your signature.
- Your full address and the business address.
- Two proposed business names.
- A clear description of the nature of your business.
- A working phone number and email address for notifications.
Mistakes That Delay or Block Your Registration
- Mismatched details: your name or date of birth on the form differs from your NIN or ID. Correct the NIN record first if needed.
- A name that is too close to an existing one: search thoroughly and choose something distinctive.
- Vague nature of business: an unclear description can lead to a query. Be specific about what you do.
- Poor uploads: blurry photographs or signatures that do not meet the portal’s requirements.
- Unofficial websites: look-alike sites and unofficial agents may inflate the fees or never file your application. Pay only through the official CAC portals, and read our guide on avoiding internet scams.
What to Do After Your Business Name Is Approved
- Open a business bank account using your certificate and identification.
- Register for tax. Check with the Nigeria Revenue Service what you need for your business. Our VAT guide explains when VAT registration applies.
- Check sector rules. Some regulated activities need additional registration or licences.
- Diarise your annual returns so your business name stays active.
- Plan your growth. If you later want investors or limited liability, you can convert to or register a limited company.
Looking for ideas on what to build? See 10 examples of small businesses that actually succeed.
Rules for Choosing a Business Name
A name that follows the rules is approved faster. As a guide:
- Make it distinctive. Names identical or very similar to registered ones are rejected, so avoid slight spelling variations of a well-known brand.
- Avoid misleading words. Words that suggest a company or a regulated business, such as Limited, Plc, Bank or Insurance, are restricted or need extra approvals. Restricted words have been reported to attract much higher reservation charges.
- Describe what you do honestly. The name and the stated nature of business should fit each other.
- Have a back-up. You submit two names, so make the second one as strong as the first.
Should You Register a Limited Company Instead?
Consider a limited company if you plan to bring in investors, want limited personal liability, or expect to bid for contracts that require a registered company. A private company is registered with a name reservation, details of directors and shareholders, a statement of share capital and its constitution documents, and share capital attracts stamp duty. Fees depend on the share capital you declare and on which fee schedule applies, so budget more than for a business name, and consider asking a CAC-accredited professional for help with the documents.
Changing or Closing a Business Name
- Changing details: if your address or proprietor details change, file the update through the CAC portal rather than leaving the record out of date.
- Closing the business name: if you stop trading, close the registration formally. Closing has been reported at ₦10,000. Keep filing annual returns until it is closed so you do not build up penalties.
Why Register at All?
- A business bank account in the business’s name, which separates business money from your own.
- Credibility with customers, suppliers and larger buyers who ask for a registration certificate.
- Access to finance and grants that usually require proof of registration.
- Protection of your name, because no one else can register the same business name.
Frequently Asked Questions
How long does CAC business name registration take?
It can take a few working days if your details and documents are correct. One 2026 guide says the digital certificate arrives within about seven working days of a correct submission. Queries and mismatches add time.
How much does it cost to register a business name?
On the most recent reported schedule, about ₦21,700 to ₦21,900 in official charges, made up of ₦1,000 reservation, ₦20,000 registration, the ₦200 and ₦500 AI service charges and a small gateway fee. Some older guides quote about ₦10,500 to ₦11,700, so confirm the amount on the portal.
Can I register a business name without an agent?
Yes. The CAC portals are designed for self-service. Use an agent only if you want help, and make sure the agent is CAC-accredited.
What is the AI service charge?
It is an extra charge the CAC introduced from 1 April 2026: ₦200 on name reservation and ₦500 on business name registration, on top of the statutory fees.
Do I need to file annual returns for a business name?
Yes. Registered business names are expected to file annual returns to stay active. A yearly fee of about ₦3,000 has been reported, and the CAC now allows payment on the iCRP portal.
Is a business name the same as a company?
No. A business name does not create a separate legal entity, so the owner is personally liable. A limited company is a separate entity with limited liability.
Related Guides
- How to verify your NIN in Nigeria
- VAT in Nigeria 2026: rate, registration and filing
- 10 examples of small businesses that actually succeed
- Dollar to naira exchange rate today
Sources
- Corporate Affairs Commission: Public notice on AI service charges, 2 April 2026
- WithinNigeria: CAC business name registration in Nigeria, complete online guide for 2026
- Docufy: The full cost of registering a business name in Nigeria
- Legit.ng: Everything you need to budget for CAC registration fees in Nigeria in 2026
- Owoode: How much is CAC registration in Nigeria
- Corporate Affairs Commission
