Every year, thousands of Nigerians search online for answers to questions like “How Much is CAC Registration on Opay?” and “How Much is CAC Registration in Nigeria?”
Whether you’re starting a small business, opening an Opay Business Account, or formalizing your company for credibility and compliance, understanding the actual cost of registering with the Corporate Affairs Commission (CAC) is essential.
The rise of Opay with other digital banks in Nigeria has revolutionized the banking sector and totally changed the game of banking in Nigeria.
At least 8 out of a group of 10 Nigerians you will meet every day has an Opay account. Moniepoint on the other hand who happens to be a giant competitor and owned by a Nigerian Tosin Eniolorunda has equally
Opay being the giant of digital banks in Nigeria is owned by a consortium of Chinese investors led by Zhou Yahui
Recently, with the rise of people now preferring to open a corporate account with this digital banks rather than going through the traditional physical banks.
According to study, OPay has surpassed 45 million registered consumers and over 1 million merchants and businesses across Nigeria.
For business and corporate accounts, the platform categorizes these under its OPay Business solutions, which process over $358 billion annually.
Although Opay has made it easier for entrepreneurs to access business-related services, many people are still unsure whether Opay carries out CAC registration directly, how much the service costs, and whether there are additional government or service charges involved.
In this comprehensive guide, you’ll learn the current cost of CAC registration in Nigeria, how CAC registration on Opay works, the fees for different business structures, the registration process, timelines, requirements, and how to avoid paying unnecessary charges.
By the end of this article, you’ll know exactly how much to budget and the best way to register your business successfully.
What is CAC Registration?
CAC registration is simply the process of incorporating or registering an entity (Business name, company or NGO in Nigeria) with the Corporate Affairs Commission by submitting the name of the entity, people behind the entity, together with its activities and paying the required fees to obtain legal documents and certificate in return.
CAC itself is a Federal Government Agency regulated and given the legal authority through the Companies and Allied Matters Act to register, regulate and certified businesses and NGOs in Nigeria.
Through CAMA 2020, CAC also has the right to not just certify business names, companies and NGOs in Nigeria, but also strike off entities that have failed to meet up regulatory compliance requirements.
How Much is CAC Registration in Nigeria 2026?
As at October last year, CAC increased its statutory fee for registrations and post incorporation to meet up with economic realities of today.
In that regard, if you are planning to register a business in Nigeria, do not expect the fee to be exactly as you thought of it last year and the years before.
Life don hard o. Things don change 🙂🙂
CAC registration fees in Nigeria can be broken down into
- Name search and reservation fee
- Official statutory fee payable to CAC
- Stamp duty fees paid to NRS (Both CAC and NRS affiliates together and CAC collects this fee on behalf of the tax body)
- Professional fee paid to consultants, lawyers or CAC agents
Stamp duty is a form of tax levied on legal documents to validate their legality.
Please note that the stamp duty fee is usually 0.75% of share capital
Cost of Business Name Registration
The current cost of Business name registration in Nigeria costs about ₦35,000 to ₦50,000. This covers the CAC official fee and professional fee of hiring a consultant.
Though there could be variations in this new CAC registration fees. This is because of the deliverables you could be getting from the consultant which could either make the fee go higher or lower.
Deliverable documents are usually
- Certificate
- Status Report
- TIN
Turnaround time is about 24 hours
Cost of Private Limited Liability Company Registration (LTD)
Similarly, the new CAC registration fees for a private company limited by guarantee is about ₦60,000 to ₦80,000.
This fee also covers CAC statutory payment, stamp duty payment and professional fee of the agents.
Deliverable documents are usually
- CAC Certificate
- Status Report
- MEMART
- Stamp Duty Certificate
- TIN
Turnaround time is about 5 working days
Please note that this fee is only for 1 million share capital. For higher share capital, the fee will be higher.
Cost of Public Limited Liability Company Registration (PLC)
The cost to register a public limited liability company in Nigeria ranges from ₦300,000 to ₦500,000
Deliverable are usually
- CAC Certificate
- Status Report
- MEMART
- Stamp Duty Certificate
- TIN
Turnaround time is about 2 weeks
Hire Legacy Benjamin Consult today For CAC registration @ 08066108299
Cost of Private Company Limited By Guarantee (LTD/GTE)
A private limited liability company is a company that engages in 50% profit making activities and 50% non-profit-making motives. The company is government by a board of trustees with equal guaranteed amount at the point of liquidation.
The current CAC registration cost for an LTD/GTE in Nigeria ranges from ₦100,000 to ₦130,000
Deliverables include
- CAC Certificate
- Status Report
- MEMART
- Stamp Duty Certificate
- TIN
Turnaround time is about 6 to 8 weeks.
Cost of NGO Registration
NGO’s are also called charities, associations, churches, mosques and community organizations. They are not for profit making and are governed by the board of trustees.
The current cost to register an NGO with CAC in Nigeria ranges from ₦130,000 to ₦200,000. This fee varies from one consultant to another. The total number of trustees involved in the NGO also have a way of influencing the fee.
Deliverables include
- CAC Certificate
- Status Report
- MEMART
- Constitution
- TIN
- Notice of newspaper publications
Turnaround time is about 4 to 5 weeks.
Need a professional consultant for your CAC registration? Hire Legacy Benjamin Consult today @ 08066108299
How Much is CAC Registration on OPay
Although OPay has made it easier for entrepreneurs to access business-related services, many people are still unsure whether OPay carries out CAC registration directly, how much the service costs, and whether there are additional government or service charges involved.
Opay in partnership with CAC agents and consultants offers affordable CAC registration services for intending users that want to use Opay business
Below is how much it will cost to do CAC registration with Opay
- Business Name ₦25,000
- Company ₦45,000
- NGO ₦100,000
Does OPay Register Businesses with CAC?
Yes. Opay has an integrated feature and partnership with CAC where they collect business data and engage in the service of CAC registration
How Does CAC Registration Through OPay Work?
Opay collects customer and business data with an integrates API software with CAC, and through an online form, carries the registration and sends the documents to the client upon successful registration
Requirements for CAC Registration on OPay
Opay will ask you to provide the following details
- Full name
- DOB email
- Phone number
- Business Name
- Business address
- Nature of business
- Means of ID
- Signature
- Passport photograph
Step Guide to Registering Your Business on OPay
- Visit the Opay website
- Create an account
- Follow the instructions by filing every information required of you
- Make the required payment
- Wait for Opay to do your registration and send you documents
What Does the Registration Fee Cover?
The fee covers official payment to CAC and a small professional fee for Opay.
OPay vs Registering Directly with CAC
OPay offers a robust CAC registration services with cheap and affordable fees. You can choose to register with Opay if you plan to use Opay banking for your business.
If you don’t plan to open a business account with Opay then doing the registration through CAC seems like a good choice especially if you understand the know-how to start the registration from beginning till end.
OPay CAC registration in Nigeria is only open for users that wants to operate a corporate account with them.
OPay vs Hiring a CAC Consultant
The role of a consultant is highly recommended. The journey does not end when the registration is complete. One major advantage of employing the services of a consultant is that you get to interact with the person one on one.
OPay does not have this feature available. You just submit your documents and information and then wait till registration is complete.
Most times there could be errors that you don’t get to preview and correct before registration is completed. Hiring a consultant means you will be able to preview your registration, make corrections and adjustments before final submission.
Again, hiring a consultant will put you and your business in a safer spot when it comes to post registration compliance like staying compliant with annual returns, and other regulatory compliances.
The consultant can always reach out to you to inform you what is required of you to do.
Furthermore, in cases of lost CAC documents, you can always reach out to the consultant to resend them to you which at times could be at zero cost.
So the benefits of hiring a consultant is worth it, even though the fee may be a big higher.
Legacy Benjamin Consult is one corporate and business consultant into the services of CAC registration, compliance and licensing that you can always trust to deliver.
Send us a call or WhatsApp Dm today @ 08066108299
Common Mistakes to Avoid
- Not understanding the right business registration structure
- Hiring a cheap consultant with little experience to save cost
- Not keeping your CAC documents safe after registration
- Ignoring post-registration compliance like filing annual returns and paying tax to the right tax authories
- Not opening a corporate account immediately afte your CAC registration is completed
Frequently Asked Questions
How Much is CAC Registration on OPay?
Below is how much it will cost to do CAC registration with Opay Nigeria
- Business Name ₦25,000
- Company ₦45,000
- NGO ₦100,000
How Much is CAC Registration in Nigeria?
Generally, the cost of registering an entity with CAC through a professional consultant like Legacy Benjamin Consult is as follows
- Business Name: ₦40,000
- Company: ₦70,000
- Limited by Guarantee: ₦100,000
- NGO ₦150,000
Does OPay charge extra for CAC registration?
No.
Can I register my business directly through OPay?
Yes. But you must bank with Opay
Is OPay an accredited CAC registration partner?
Yes. CAC has an affiliation with Opay
How long does CAC registration take in Nigeria?
24 hours for business names, 5 days for private companies, 8 weeks for limited by guarantee and 5 weeks for NGOs
What documents are required for CAC registration?
Name of business, nature of business, proprietor details, address of business, director details, shareholder details, guarantors details means of Identification
Is registering through OPay different from registering directly with CAC?
The registration outcome is the same because every application is processed by the CAC. The main difference lies in the registration experience, convenience, and any service fees charged by the platform
Will I receive a CAC certificate after registration through OPay?
Yes. Once your registration is approved by the CAC, you will receive your official Certificate of Registration and other relevant incorporation documents
Can I open an OPay Business Account without CAC registration?
Some business account features may require proof of business registration. Having a CAC certificate can help you access additional business banking services and higher transaction limits
What happens if my proposed business name is unavailable?
If your preferred name is unavailable or conflicts with an existing registration, you'll need to choose an alternative name and submit it for approval
Conclusion
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