How to Apply for the FG’s Free CAC Registration Under the 250,000 MSME Scheme

olabiyi

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The Federal Government has officially launched the application process for the free registration of 250,000 Micro, Small, and Medium Enterprises (MSMEs) nationwide.

The initiative, approved by President Bola Tinubu, is a joint collaboration between the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Corporate Affairs Commission (CAC). It is specifically targeted at nano, micro, and small-scale entrepreneurs, effectively removing the ₦11,000 corporate registration fee to ease the financial burden of business formalization.

By registering under this scheme, business owners will transition into the formal economy, paving the way for access to federal grants, low-interest credit facilities, technical training, and corporate banking services.

The Application Process

1.Access the Official SMEDAN Portal:Step 1.

Open your web browser and visit the official SMEDAN registration portal at portal.smedan.gov.ng. Ensure you only use this official link to avoid fraudulent third-party sites.

2.Create Your Account:Step 2.

Click on “Sign Up” or “Register Your Business”. Fill in your personal details, including your full name, functional email address, active phone number, and a secure password.

3.Fill in the MSME Form:Step 3.

Enter your business information, including your proposed business name, physical address, staff strength, sector of operation, and your National Identification Number (NIN).

4.Opt-In for Free CAC Formalization:Step 4.

While filling out the form, you will be asked if your business already has a CAC registration number. Select “No” to indicate your eligibility for the free formalization scheme.

5.Review and Submit:Step 5.

Carefully check all entered information for spelling errors or incorrect details. Once verified, submit the application. Your submission will generate a SMEDAN Unique Identification Number (SUIN).

6.Await Approval and Next Steps:Step 6.

Once your SMEDAN registration is reviewed and successful, the agency will profile your business and contact you via your registered email or phone number with detailed instructions to finalize your free CAC Business Name certificate.

Note for Existing SMEDAN Members: If you have already registered your business on the SMEDAN database in the past but do not have a CAC registration, you do not need to apply again. The system is configured to automatically qualify you for the free CAC formalization drive.

Offline Support: For entrepreneurs who are not digital natives or lack reliable internet access, SMEDAN has made arrangements for physical registration support at all SMEDAN State Offices and temporary “Business Clinic” events across the 36 states and the FCT.

Ayodele Quadri

Correspondent