By Usman Oladimeji
The Federal Government’s free business name registration initiative, implemented through the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, has recorded progress, with successful applicants now able to download their Corporate Affairs Commission, CAC, certificates.
Beneficiaries who applied for the scheme several months ago have begun receiving approval notifications from SMEDAN, alongside their CAC registration numbers.
The notifications direct successful applicants to log into their SMEDAN portal dashboards to download their business registration certificates.
The initiative, introduced under President Bola Ahmed Tinubu’s administration, is being implemented in partnership with the CAC to support the formalisation of 250,000 nano, micro and small businesses across the country.
Under the scheme, the Federal Government covers the statutory cost of business name registration, saving eligible entrepreneurs between 10,000 and 50,000 naira, while the CAC is expected to forgo about three billion naira in registration fees.
Beyond free registration, beneficiaries may gain improved access to business support opportunities, including loans, grants, training and market linkages, while their details will be captured in SMEDAN’s national database.
However, applicants have been advised that certificate processing may take more than 48 hours after approval.
SMEDAN and the CAC have also warned applicants against fraudulent links and individuals demanding payment to fast-track registration, stressing that the programme is completely free.
Applicants are advised to use only the official SMEDAN portal at portal.smedan.gov.ng and avoid making payments to unauthorised persons.
The initiative is limited to 250,000 businesses nationwide, with eligible entrepreneurs who have not yet applied encouraged to check the official portal for available opportunities.
