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SME Guide

CAC Begins Registration Drive to Formalise 2 Million Small Businesses in Nigeria

The Corporate Affairs Commission (CAC) of Nigeria has started a registration drive to formalise 2 million small businesses nationwide. This new initiative aims to bring more micro, small and medium enterprises into the formal economy.

According to Hussaini Ishaq Magaji, the Registrar-General of the CAC, this mass registration campaign is being facilitated in partnership with Moniepont. The key objectives are to stimulate economic growth, improve regulatory compliance, and boost government revenue through more business tax contributions.

By registering formally with the CAC, small businesses can access crucial government support schemes and financing opportunities and participate more actively in Nigeria’s economy. However, Nigeria has struggled with getting small enterprises to register formally. Hence, this CAC registration drive is a strategic push to capture millions of small businesses operating informally.

Formalisation will enable innovation, access to credit, and government incentives for small companies. Bringing more MSMEs into the mainstream economic and regulatory system will unlock growth in key sectors and employment. The CAC is urging all unregistered firms to leverage this opportunity.

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