9jah team
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Seeded question. The 9jah team wrote this question and its answer on 2 September 2026 to start the site. The answer was checked on that date, but prices and rules in Nigeria change, so add what you know or correct it below.
Starting a small online shop. Do I need a business name or a limited company, and what is the CAC fee?
For a sole trader or a small partnership, a business name is enough and is the cheapest form. A private limited company (Ltd) protects you from company debts and is what banks and investors expect from a growing firm.
Registration is on the CAC portal at cac.gov.ng: reserve a name, fill the form, upload your NIN, a passport photo and signature, and pay. In 2024 the official fee for a business name was around 10,000 naira; a limited company costs more because of stamp duty on the share capital and filing fees. Agents and lawyers charge on top, typically 20,000 to 60,000 naira.
Approval takes a few days to two weeks. After registration you get a TIN automatically or through the JTB portal, and you should open a business bank account.
Checked by the 9jah team on 2 September 2026. Corrections welcome.
