How to close your Business Name in Nigeria

How to close your Business Name in Nigeria

December 15, 2021

After incorporation of a business, the proprietor or proprietors of the business can decide to close the business name on reasonable grounds or upon the death of a proprietor, the Legal representative can apply for the business to be closed. The process of closing a business name in Nigeria is called cessation of business.

To apply for cessation of business, the applicant must provide a consent letter for the cessation of business addressed to the Registrar of the Corporate Affairs Commission (CAC). A death certificate would be required where the proprietor is dead and the identification card of the Legal representative. Where the proprietor(s) is applying for himself/herself, his/her identification card would suffice.

The application is usually done on the CAC  post-incorporation portal by an accredited agent of the Commission.

Before any cessation can be concluded the applicant must have filed up to date Annual Returns.

Team 618 Bees

 

618 Bees can help you quickly and easily help you apply for the Cessation of your Business Name in Nigeria. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your registration with the Corporate Affairs Commission (CAC).

 

 

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

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Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 
  • Must my Company Secretary be a Lawyer?

    Although it’s ideal to have a lawyer as a company secretary, it is not compulsory for small private businesses.
  • Why is mutual assent important in a contract?

    This is one of the key elements of a contract because is shows the meeting of the minds of both parties
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    You can start renewal 6 months to the date of expiry.
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    Any two adults can be directors in a company.
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