By our Reporter
The Corporate Affairs Commission (CAC) has declared that operating a business in Nigeria without proper registration under the Companies and Allied Matters Act (CAMA) 2020 is a criminal offence.
According to a statement signed by the CAC management, section 863 of the Act prohibits conducting business as a company, limited liability partnership, limited partnership, or under any business name without registration, or using a name or acronym other than that registered.
The Commission also cited section 729 of the Act, which mandates that every registered company must display its official registered name and number at all places of business, as well as on all official documents and materials, including letterheads, signage, and promotional content.
Furthermore, the statement warned that under section 862(1), any person who knowingly makes false statements in any official business document commits an offence punishable by up to two years in prison and daily fines for continued violations.
The CAC has given companies, partnerships, and business name proprietors six weeks to comply fully with these requirements or face enforcement actions, including prosecution.
