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Six Steps To Keep Business Legally Active – CAC

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Nigerian business owners are increasingly at risk as the Corporate Affairs Commission intensifies efforts to delist inactive companies from its official register.

This action, known as ‘striking off,’ effectively removes a company’s legal status and renders it non-existent in the eyes of the law.

Many entrepreneurs remain unaware of the consequences until it’s too late—often discovering their company has been struck off during critical moments like applying for loans, seeking investment, or bidding for contracts.

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To help businesses navigate the process and avoid being delisted, here are the six critical steps for correct company registration and post-incorporation compliance, based on the provisions of CAMA:

READ ALSO:FULL LIST: CAC Removes 247 Companies From Database, Urges Public To Disregard Them

1. Choose a Unique Business Name:

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Before anything else, select two distinct company names and verify their availability on the CAC online portal. To be approved, names must not be identical to existing companies, misleading, or prohibited under Section 30 of CAMA 2020. Once approved, the name can be reserved for 60 days for a fee of ₦500.

2. Prepare Key Governing Documents:

Businesses must draft a Memorandum of Association (outlining business objectives and share capital) and Articles of Association (detailing internal governance rules). These documents, which can be prepared using templates from the CAC portal, must comply with Sections 27 and 28 of CAMA 2020 and be signed by the company’s promoters.

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3. Declare Share Capital:

The company’s authorized share capital must be specified, with a minimum of ₦100,000 for private companies. This is a statutory requirement under Section 27(2) of CAMA 2020, with higher share capital leading to increased filing fees and stamp duty.

4. Appoint Directors and Shareholders:

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Provide the details of at least two directors (or one for small companies) and at least one shareholder. Directors must be at least 18 years old and of sound mind, as stipulated in Sections 20 and 271 of CAMA 2020. Required information includes names, addresses, occupations, and valid identification.

READ ALSO:Tinubu Appoints New NCC Chairman, Fresh Board Members

5. Submit Registration Documents:

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All required documents, including CAC Form CAC1.1, the Memorandum and Articles of Association, and details of directors and shareholders, must be submitted via the CAC online portal. This is followed by the payment of statutory filing fees and stamp duty, which vary based on the company’s share capital.

6. Comply Post-Registration:

After receiving the Certificate of Incorporation, a company’s legal existence is confirmed. However, the work is not done. Businesses must register for a Tax Identification Number (TIN) with the Federal Inland Revenue Service (FIRS) and obtain any necessary permits. Most critically, they must file annual returns within 42 days of their company’s anniversary to avoid being delisted. This includes submitting yearly forms, declaring Persons with Significant Control (PSC), and paying all fees on schedule.

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Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

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Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.

‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”

‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

READ ALSO:Children’s Day: Edo Commits To Child Protection

It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.

‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.

‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.

‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

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READ ALSO: Egor LG Chair, Ogbemudia, Vice, Osawe Impeached

Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

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Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”

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Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

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Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha

The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.

He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.

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READ ALSO:ADC Penetrates Okpebholo’s District As Defections Strengthen Party in Edo Central

According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.

“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”

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Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.

READ ALSO:Okpebholo Felicitates Muslims On Eid-el-Fitr Celebration

He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.

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I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”

In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.

The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.

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Children’s Day: Edo Commits To Child Protection

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The Edo State Government has reaffirmed its commitment to protecting the rights of children, promoting quality education, and strengthening sports development across the state.

This assurance was given by the governor of Edo State, Monday Okpebholo, during the 2026 Children’s Day Celebration and Governor’s Cup Finale held on Wednesday at the Samuel Ogbemudia Stadium, Benin City.

Addressing pupils, students and teachers,
the governor described children as the pride of Edo State and the future of the nation.

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The governor, represented by his deputy, Dennis Idahosa,
noted that the annual celebration provides an opportunity to honour their dreams, talents, and limitless potential.

READ ALSO:Eid-el-Kabir: Edo Deputy Gov Solicits prayers For Okpebholo

Speaking on this year’s Children’s Day theme, “Choose Kindness, Reject Bullying,” the governor said the message was timely and significant, as it emphasizes the need to create safe, supportive, and inclusive environments for children both in schools and communities.

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He stated that bullying in all forms — physical, verbal, emotional, or online — has no place in society, adding that the Edo State Government remains fully committed to protecting the rights and dignity of every child.

According to him, the administration will continue to strengthen policies and programmes that promote child protection, discipline, mutual respect, and positive learning environments across schools in the State.

The governor urged children to embrace kindness, compassion, teamwork, and respect for one another, stressing that true strength lies not in intimidation but in empathy, good character, and mutual understanding.

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