Tag: The Corporate Affairs Commission (CAC)

The Corporate Affairs Commission (CAC) has introduced new mandatory requirements for all Business Name Online Update requests, in a move aimed at strengthening verification processes and improving the accuracy of business records nationwide.

The directive, released on Wednesday through the commission’s official X account, requires applicants to provide additional personal and contact information before their update requests can be processed.

According to the CAC, every Business Name Online Update submission must now include the proprietor’s date of birth, a registered office email address, the proprietor’s personal email address, a phone number for the registered office or proprietor (where different), and a valid means of identification.

The commission stated that the revised guidelines form part of broader reforms intended to improve documentation integrity and minimise fraudulent alterations to business name records.

“Under the new guidelines, every Business Name Online Update submission must include date of birth, registered office email, proprietor’s email address, phone number for the registered office or proprietor where different, and a valid means of identification,” the CAC said.

The commission added that the additional details would ensure seamless communication with business proprietors, enable more accurate compliance checks, and strengthen its internal verification processes.

It explained that the reforms were also designed to streamline the commission’s database and support its ongoing transition towards more secure and efficient digital service delivery.

The regulatory body urged business owners to comply fully with the updated requirements to avoid delays in the processing of their applications.

According to reports the CAC, which serves as Nigeria’s statutory authority for the registration and regulation of companies, business names and incorporated trustees, has in recent years migrated from manual operations to a digital-first system.
This transition has improved accessibility and reduced bottlenecks in registration and post-registration services nationwide.

The Corporate Affairs Commission (CAC) has announced a nationwide enforcement exercise to ensure that all Point of Sale (POS) operators register their businesses before Jan. 1, 2026.
The Commission, in a public notice issued on Saturday, said the growing number of unregistered POS agents violates the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations.
It warned that the trend, allegedly aided by some fintech companies, poses risks to the country’s financial system and endangers citizens’ funds.
“The CAC has observed the rising number of PoS operators running without registration, violating CAMA 2020 and CBN Agent Banking Regulations. This reckless practice, often enabled by some fintech companies, puts Nigeria’s financial system and citizens’ investments at risk. This must stop,” the notice said.
The Commission said enforcement would begin on Jan. 1 and outlined measures that include:disallowing any POS operator from functioning without CAC Registration;deployment of security agencies nationwide to ensure compliance;
Seizure or shutdown of unregistered POS terminals; andwatchlisting fintech firms aiding unregistered operators, with reports forwarded to the CBN.
The CAC urged operators to commence immediate registration, stressing that compliance is mandatory.
The enforcement move comes amid increased dependence on POS agents for cash withdrawals and other financial services, especially in communities with limited access to banking halls.