CAC Business Name Update: CAC Introduces New Requirements for Online Business Name Updates
The Corporate Affairs Commission (CAC) has announced a fresh set of requirements for Nigerians who wish to update or make changes to their registered business names through its online portal. The update, which is part of CAC’s ongoing digital reform, aims to strengthen identity verification, reduce fraud, and ensure more accurate business records.
What Has Changed?
According to the Commission, individuals seeking to modify details such as business name, proprietor information, nature of business, or address will now need to provide additional documentation for verification. These new requirements apply to all online requests and must be completed before any update is approved.
Key New Requirements for Business Name Updates
Here are the major additions entrepreneurs should take note of:
1. Mandatory Valid ID Verification
Applicants must now upload a clear and valid government-issued identification document. Acceptable IDs include:
- National Identity Card (NIN Slip accepted)
- International Passport
- Driver’s Licence
- Voter’s Card
This step is intended to ensure that only authorized proprietors can initiate changes.
2. Updated Proprietor Information
If the update affects any of the business owners, CAC now requires:
- A recent passport photograph
- A signed resolution or consent letter (for businesses with multiple proprietors)
- This allows the Commission to maintain accurate and up-to-date ownership records.
3. Proof of Address for Physical and Business Location
Applicants must upload a recent utility bill or any valid document that confirms the existing or new business address.
4. Additional Supporting Documents
Depending on the nature of the update, CAC may request:
- Affidavits
- Change-of-details forms
- Updated business information sheets
- This ensures that all changes comply with regulatory standards.
Why the New Requirements Matter
CAC explains that the revised requirements are designed to:
- Improve transparency in Nigeria’s business environment
- Protect business owners from impersonation or unauthorized modifications
- Enhance the accuracy of national business records
- Support Nigeria’s transition to a fully digital company registration process
How Business Owners Can Comply
Entrepreneurs are advised to:
- Log into the CAC portal
- Prepare all required documents in PDF or JPEG format
- Ensure IDs and images are clear and readable
- Double-check all information before submission
- Timely compliance will ensure a smooth approval process and prevent delays.
Final Thoughts
The CAC’s introduction of additional requirements for online business name updates reflects a broader effort to improve data integrity and boost confidence in Nigeria’s business registration system. Entrepreneurs are encouraged to familiarize themselves with these new rules to avoid disruptions and maintain fully compliant business records.
