The Corporate Affairs Commission (CAC) has registered 69,000 business names for Small and Medium Enterprises (SMEs) under the recent Business Incentive Strategy (BIS) introduced by the Federal Government.
Vice President Yemi Osinbajo recently announced a reduction in business name registration fee from N10,000 to N5,000 from October 2018 to December 2018 under the BIS.
Speaking during a media roundtable to recount the activities of the commission for 2018, the Acting Registrar General of CAC, Lady Azuka Azinge, said the BIS had recorded tremendous success and had already applied to the Minister of Industry, Trade and Investment, Okechukwu Enelamah, for an extension of the strategy for three more months.
Lady Azinge said the extension would enable the commission register more of the over 40 million SMEs that are not registered in the country.
