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The Corporate Affairs Commission (CAC) has issued a six -week notification for unregistered businesses to complete their registration or face prosecution.
The commission provides a notification in a statement entitled: “Public Notification: Bringing a Business in Nigeria with an Unregistered Name or Acronym,” issued on Tuesday.
CAC informs the general public that it is a criminal violation based on section 863 of the company and Allied Matters Act (CAMA) 2020, to run a business in Nigeria as a company, limited obligations, limited partnerships, or with business names without registration. This is also a violation to operate with the name (or acronym) other than those registered under the law.
The next public is recommended that the 729 of the law requires that each company is registered to display the name and registration number registered at each business location.
“In addition, the company is required to declare its registered registration name and registration number in all official publications, including letterhead, signage, marketing, and publicity material,” the statement added.
This emphasizes that non -compliance with business registration requirements can result in prosecution and sentence that brings a sentence of up to two years in prison.
“Specifically, the general public must record the provisions of Article 862 (1) of the law, which states that every person who, in any document is needed based on the law (including official publications mentioned above a company), consciously make false statements in terms of both good things carried out by every day.
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