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

  • When are Annual Returns due for filing?

    A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

    The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.
  • Do I need a Company Secretary?

    A limited liability company (LLC) must not have a company secretary.
  • 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
  • If I have NAFDAC Registration number, do I still need SON registration number?

    SON Product Registration scheme is mandatory for all SON’s regulated products as mandated by SON Act 56 of 1971, 20 of 1984, 18 of 1990 as amended.

    This is irrespective of the registration done by NAFDAC
  • Is it legal to transfer the personal data you obtained legally to another person?

    No, its not legal. This is because the law prohibits anyone from transferring the data of a third party to another person without consent from the third party to do same even if the data was rightfully obtained in the first instance.
  • Does Trademark registration protect my website domain name?

    Yes, it does.
  • When can I start renewal of the registration of my product(s) with NAFDAC?

    You can start renewal 6 months to the date of expiry.
  • What is the first thing I must do to register a business in Nigeria?

    To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.
  • Does Trademark registration protect my website domain name?

    Yes, it does.
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