President Muhamadu Buhari has approved free business name registration with the Corporate Affairs Commission (CAC) for 250,000 businesses across the nation.
This was announced on Tuesday evening by Bashir Ahmed, the new media aide to the President, announced the development through his Twitter handle.
“President Buhari has approved free business names’ registration for 250k MSMEs nationwide; according to the CAC, 6,606 names in each of the 34 states, Abuja will have 7,906, Lagos 9,084 & Kano 8,406,” he tweeted.
“The free registration commences today, visit http://cac.gov.ng for details” he added.
With this gesture by the federal government, each small business owner in the country will be saving about N20,000 that is hitherto paid to have a business name registered.