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Business owners, lawyers to face new costs as CAC increases service fees

The Corporate Affairs Commission (CAC) in Nigeria has revised its service fees, effective from January 1, 2024, as detailed in a circular released on October 3, 2023. The new fee structure includes increases across various services such as company registration, filing annual returns, and obtaining certified true copies of documents. For instance, the fee for registering a private company limited by shares has risen from N10,000 to N15,000, while the cost for filing annual returns for companies with a share capital between N1 million and N50 million has increased from N3,000 to N5,000. Other services like name availability checks, business name registration, and the incorporation of incorporated trustees have also seen fee hikes. The CAC justified these changes by citing the need to cover operational costs and improve service delivery, amidst rising economic pressures.

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[ https://www.legit.ng/business-economy/economy/1660149-full-list-cac-reviews-service-fees-date-implement-rates/ ]