The Corporate Affairs Commission has announced three months extension for registration of business names at the reduced cost of N5, 000. The commission, in a statement signed by the Deputy Director, Public Affairs, Moses Adaguusu, said the move was part of the efforts to support the growth of the Micro, Small and Medium Enterprises.
The commission, under its Business Incentive Strategy, had reduced the cost of business name registration from N10, 000 to N5, 000 for a period of three months covering October 1, 2018 to December 31, 2018.
The BIS is aimed at creating a window for MSMEs to formalise their businesses, which will enable them to own corporate account with banks, have access to loans, grants and other government interventions.
But the commission said upon the expiration of the initial three months window, it received many requests from states and other agencies seeking extension of the 50 per cent fee reduction promo.