Nigeria has 3.1m registered companies – CAC

The Corporate Affairs Commission (CAC) has revealed that Nigeria has a total of 3.1 million registered companies.

The Acting Registrar General of the commission, Lady Azuka Azinge, said that was the total number of companies registered from the inception of CAC to date.

Speaking at a customer forum held in Abuja, Lady Azinge said a total of 618,309 business entities was registered by the commission from 2016 to 2018.

The CAC boss said a total of 175,000 entities were registered in 2016, while 193,194 were registered in 2017 and 252,035 in 2018.

She further stated that 248,914 were limited liability companies, and 327,676 were business names while 41,719 were incorporated trustees.

Lady Azinge told participants at the forum that since inception to date, most of the companies registered were limited liability companies.

She said the CAC has digitalised business registration processes for ease of doing business and the its (commission’s) seamless operation.

She said most registration processes can now be done on the commission’s registration portal, including all payments.