AfriPulse
The Corporate Affairs Commission (CAC) has announced new compulsory requirements for all online business name update requests. Effective immediately, proprietors must provide additional personal and contact details, including date of birth, email addresses, phone numbers, and valid identification.
According to a statement posted on its X account on Wednesday, applicants must now provide additional personal and contact details to strengthen verification processes and enhance record accuracy for registered businesses.
“Under the new guidelines, every Business Name Online Update submission must include date of birth, registered office email, proprietor’s email address, phone number for the registered office or proprietor, where different and a valid means of identification,” CAC stated.
Why the Change?
The CAC says the move is part of ongoing reforms to:
Strengthen verification processes and ensure that registered businesses are tied to authentic proprietors.
Improve documentation integrity by reducing errors and inconsistencies in business records.
Prevent fraud by closing loopholes that allowed impersonation or misuse of business identities.
Enhance communication with business owners through verified contact channels.
What Businesses Must Now Provide
Every online update submission must include:
Proprietor’s date of birth
Registered office email
Proprietor’s email address
Phone number (for office or proprietor, if different)
A valid means of identification
What This Means for Entrepreneurs
More paperwork upfront: Business owners will need to gather and submit personal details before updates can be processed.
Reduced risk of fraud: Stronger verification makes it harder for unauthorized individuals to tamper with business records.
Faster compliance checks: A streamlined database will allow CAC to quickly confirm business legitimacy.
Potential delays for non-compliance: Requests missing the required details may be rejected or delayed.
The CAC has been modernising its operations, moving from manual systems to digital platforms. These new requirements are part of that transition, aimed at building a more secure and efficient business registry. For entrepreneurs, the reforms promise smoother interactions with regulators, but they also demand stricter adherence to compliance rules.
In essence, the CAC is signalling that Nigeria’s business environment is entering a new phase of digital accountability, where transparency, traceability, and verified ownership are central to sustaining trust in the corporate sector.
Source: RipplesNigeria | Read the Full Story…
