The cost of registering a business name with the Corporate Affairs Commission, CAC varies from different persons handling the registration.
Officially the cost of filing a business name registration (presently till 31st December 2018) is N5,000 payable to CAC. It used to be N10,000 till October 2018 when the Federal Government in its bid to ease the cost of doing/registering businesses decided to slash the price, more like putting a "promo period" of three months from then to expire on 31st December 2018. And that means that from 1st January 2019, it will revert to the normal filing fee of N10,000.
However, whether its N5,000 or N10,000 a client should bear in mind that there is a lot more to be done by the person/lawyer handling the registration of a business name than just paying the official filing fee. This brings back my opening statement that the actual cost varies from different persons.
In addition to the official filing fee, the lawyer pays the VAT and banking charges collected on the filing fee, prepares the business name registration documents, answers any queries from CAC for any mistakes arising/seen on the business name registration application and finally is entitled to his professional fee for taking up the job.
Once a business name availability search has been done with necessary filing fee paid and documents uploaded to CAC, a typical business name (in the absence of queries from CAC) should be registered in about 4 days with the business name certificate issued. I recently had the whole process for a job done in 3 days!
So, for a total cost, I advise a client to keep between N18,000 to N25,000 to have a business name registered and certificate duly issued within 4days by CAC.