CAC registers 220,773 MSMEs in 10 months

The Corporate Affairs Commission on Monday announced that it registered 220,773 Micro, Small and Medium Enterprises in the last 10 months. The CAC said in a statement issued by the commission’s Head of Public Affairs, Moses Adaguusu, in Abuja.

It said that the MSMEs were registered between October 2018 and July 31, adding that it had also extended by three days, the 50 per cent reduction in the registration fee for business names window, under its Business Incentive Strategy.

The commission said with the extension, the promotional reduction fee would now end on Friday, August 16. It explained that the three-day extension was to enable micro, small and medium enterprises that could not register their businesses during the promo because of the Sallah holidays to do so. Adaguusu said, “From when the BIS started in October 2018 to July 31, the commission registered at least 220,773 MSMEs under the BIS window. The list is growing day by day.

“Registration of their businesses will enable them own corporate accounts with banks, have access to loans, grants and other government interventions.” The commission urged members of the public to take advantage of the three-day extension to register their business names at the reduced cost of N5, 000. It said registration could be done online or at any of the commission’s offices nationwide. Punch