This measures the paid-in minimum capital requirement, number of procedures, time and cost for a small- to medium-sized limited liability company to start up and formally operate in economy’s largest business city.
| COMPLETED REFORMS | IMPACT | |
| 1 | Registration of a company at the Corporate Affairs Commission (CAC) through the online company registration portal (CRP) within 24 hours | Reduces this procedure from 10 days to 1 day |
| 2 | Electronic Reservation of a unique company name | Business owners can now undertake reservations of unique company names in less than 24hrs |
| 3 | Simplification of preparation of the requisite incorporation documents and automation of payment of stamp duty | Reduction in numbers of days from 1-3 days to less than 24 hrs. |
| 4 | Signing the declaration of compliance by staff of the Corporate Affairs Commission (CAC) | Business owners do not have to engage a lawyer to undertake this process or pay for services of a notary public. |
| 5 | Payment of registration fees through the online company registration portal (CRP)- Cost Reduction on Government Fee | N4,000 ($11) is saved based on fewer registration documents as the incorporation documents have now been consolidated into a single CAC Form 1.1 |
| 6 | Electronic Registration of companies by general users using the company registration portal (CRP)- Elimination of cost of hiring a lawyer | This reform has eliminated the need for business owners to engage a lawyer for registering companies at the CAC; thereby eliminating the cost of N60, 000 (app $200) previously recorded for procuring the services of a lawyer. |
| 7 | Elimination of requirement for company seal for business registration | The automation of this process dispenses with the need for physical submission of applications at the tax office; thereby eliminating the requirement to fabricate a common seal for company tax registration. |
| 8 | Automatic generation of tax identification numbers (TIN) by the Federal Inland Revenue Service (FIRS) upon completion of registration | This eliminates the necessity for a business owner to visit FIRS office in order to obtain a TIN. |
| 9 | Non-requirement of physical inspection of business premises in Kano State | Physical inspection of business premises is no longer undertaken in Kano State as part of the process for Business Premises Registration |
| 10 | Insertion of Tax Identification Numbers on CAC Certificate | Certificates of Incorporation of companies registered under Part A of CAMA will henceforth bear the Tax Identification Numbers (TIN) issued by the Federal Inland Revenue Service (FIRS) to such companies. |