The federal government has stated that one hundred thousand micro, small and medium enterprises (MSMEs) have received free Corporate Affairs Commission (CAC) registration.
The federal government rolled out the offer in October 2020 as a way of softening the impact of coronavirus on businesses.
Data provided by the federal government via its Twitter handle @NigeriaGov on Wednesday states that, of the 100,000 beneficiaries, 92,000 are youth owned businesses.
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“Pleased to announce that we have hit a milestone of 100,000 Business Names registered free of charge by @cacnigeria1 as part of the @SurvivalFund_ng. Registering these existing and new businesses brings them into the formal economy, with benefits for the Govt and the businesses,” the tweet read.
Under the N75 billion survival fund scheme, the government aims to register 250,000 new businesses from all parts of the country with the CAC, free of charge. It also includes the payroll support and guaranteed off take schemes.
Recently, the FG announced that it had extended registration for the payroll support scheme to enable some states meet their quota.
Excluding Benue, Plateau, Bauchi, Kano, Kaduna, Rivers and the federal capital territory (FCT) from states eligible to register, it said the survival fund payroll support portal would be reopened from January 27th to February 2nd, 2021 for businesses across education, hospitality and general sector.
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