(Step-by-Step Guide)
Introduction
Every successful business evolves, and sometimes that evolution calls for a new name. Whether you’re rebranding to reach new markets, restructuring your business, or simply giving your enterprise a fresh identity, changing your business name is an exciting but legally sensitive step. Under the Companies and Allied Matters Act (CAMA) 2020, every registered business name in Nigeria is required to notify the Corporate Affairs Commission (CAC) of any name change. This ensures your new business name is legally recognised and protected.
At Fathenso Professional Services, we help entrepreneurs and business owners handle this process seamlessly, ensuring every step complies with the law and runs smoothly.
The position of the Law
The legal framework for business names in Nigeria is contained in Part E (Sections 814 – 822) of the Companies and Allied Matters Act (CAMA) 2020. Specifically, Section 814(1) defines what constitutes a business name under Nigerian law.
Section 815 provides for the registration of business names.
Section 818(1) expressly allows a registered business to apply for approval to change its business name, subject to CAC’s consent.
Section 820 further mandates that once the change is approved, the CAC shall issue a new Certificate of Registration, and the old certificate ceases to have effect. In other words, a registered business name can legally change its name but only after obtaining approval from the Corporate Affairs Commission and paying the prescribed fees.
Step-by-Step Guide: How to Change Your Registered Business Name
Changing your business name with the CAC involves a few structured but straightforward steps.
Step 1: Check for Availability and Reserve the New Name
Start by checking if your desired new name is available on the CAC online portal. If the name is available, reserve it immediately. This is done on the CAC pre-incorporation website for name reservation.
Step 2: Apply for Change of Business Name:
After reservation, log in to your CAC Post-Incorporation Account and select “Change of Business Name.” Provide accurate information about your current business and upload the required documentation. Visit: https://post.cac.gov.ng
Step 3: Pay the Prescribed Fees
Make payment for the name change through the CAC portal. Ensure you keep the payment receipt as part of your records.
Step 4: Upload the Required Documents
Typically, the following documents are required:
-Notice of name approval
-Existing certificate of registration
-Application Letter for Change of Business Name (signed by the proprietor or partners)
Ensure that all documents are clear, duly signed, and properly formatted.
Step 5: Await CAC Review and Approval
Once your application is submitted, the CAC reviews your documents and verifies the new name. If approved, the Commission issues a new Certificate of Registration showing your new business name, which becomes legally effective immediately.
Step 6: Update All Business and Tax Records
After approval, update your new business name across all platforms, including: Tax records (FIRS and State IRS), Bank accounts and payment systems, licensing and regulatory bodies, business documents, letterheads, and invoices. This keeps your operations consistent and compliant.
Why Changing Your Business Name Properly Matters
Your business name is your brand identity. Failing to update it legally with the CAC can create complications such as:
-Inconsistent business and tax records
-Problems with contracts or licenses
-Rejection of applications or official correspondence under the old name
Following the CAC-approved process ensures your new name is legally valid and recognised nationwide.
Conclusion
A change of business name can symbolise new growth, vision, and opportunity, but it must be done correctly to protect your brand and remain compliant with the law.
At Fathenso Professional Services, we make this process simple and stress-free. Our team handles everything from name search and reservation to CAC filings and certificate issuance.
Contact us on 09029926107