What kind of businesses or company names require special consent?

What kind of businesses or company names require special consent?

June 06, 2019

Section 30 of the companies and Allied matters Act cap C20 Laws of the Federation of Nigeria 2004 (CAMA) clearly states the names that require the consent of the Corporate Affairs Commission (CAC) before they can be registered and they are Names  which:

(a)includes the word “Federal”, “National”, “Regional”, “State”, “Government”, or any other word which in the  opinion of the Commission suggests or is calculated to suggest that it enjoys the patronage of the Government of  the Federation or the Government of a State in Nigeria, as the case may be, or any Ministry or Department of  Government; or

(b) contains the word “Municipal” or “Chartered” or in the opinion of the Commission suggests, or is calculated to  suggest, connection with any municipality or other local authority; or

(c) Contains the word “Co‐operative” or the words “Building Society”; or

(d) Contains the word “Group” or “Holding”.

 

 

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    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 
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