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On TRE Journal

Federal Government Introduces easy company registration for SMEs. No need to hire a lawyer

The Federal Government has introduced a reform under the Presidential Enabling Business Environment Council, PEBEC.

The reforms were made at the Nigerian Business Environment 60-day action plan of the  Presidential Enabling Business Environment Council, PEBEC. This enables prospective small and medium enterprises to register their businesses without a lawyer.

The time frame for registration has also been shortened to one day instead of ten days once all documentation are submitted

The council is chaired by the Vice President, Prof Yemi Osibanjo.

The council has also directed that prospective businesses should be able to check for the availability of their intended company names on the Corporate Affairs Commission portal. This service erases the bottle neck usually experienced as a result of choosing proscribed names and refusals based on duplication.

These were the issues highlighted at the end of the 60-day action plan in a report that was announced by the Senior Special Assistant to the president on media and publicity.

The council also reported that progress has been made on issues like “Dealing with Construction Permits, Getting Electricity, Registering Property, Getting Credit and Paying Taxes.”

In addition the report indicates that the “Entry and Exit of people” indicator which covers the Visa-on-Arrival process, infrastructural improvements at the Nnamdi Azikiwe International Airport in Abuja, and the new Immigration Regulation 2017 have been concluded.

The council will also proceed with the “Sub National Reforms” which targets the states of the federation. This reform will simplify trading; improve business processes, ease of movement and goods across all regions of the country.

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