The verdict in three sentences
Formalizing your activity with the CAC (Corporate Affairs Commission, Nigeria's business registry) takes a few days online and lets you invoice legally, open a corporate account and gain credibility. For a freelancer or digital referral partner, registration turns informal income into a declared activity able to sign contracts. The cost stays modest — a Business Name registration is far cheaper than incorporating a limited company in 2026.
The steps and timelines
The CAC journey is largely online through the CAC portal.
| Step | Detail | Typical delay 2026 |
|---|---|---|
| 1. Name search | Reserve a unique business name | Same day |
| 2. Fill portal forms | ID, address, directors if company | Day 0 |
| 3. Pay fees | Filing + stamp duty | Day 0-1 |
| 4. Registration issued | Business Name or LTD certificate | A few days |
| 5. Corporate/mobile account | On presenting the certificate + TIN | 2-5 days |
At the end you hold a registration certificate and can obtain a TIN (tax ID), the two keys to invoicing and getting paid by companies.
Legal forms and costs
The choice depends on your ambition and the need to separate personal and business assets.
| Form | For whom | Min. capital | 2026 cost order |
|---|---|---|---|
| Business Name | Freelancer, solo partner | None | Low filing fee |
| Private LTD | Solo/team wanting a company | Nominal share capital | Higher (filing + stamp duty) |
| LTD with partners | Team, agency | Nominal share capital | Higher still |
These amounts are 2026 estimates including filing and support; they vary by provider and structure.
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Why it changes everything for a partner
A registered referral partner can issue invoices, get paid cleanly into a business account, and deduct expenses. The Kolonell referral program pays 15% on showcase sites, 12% e-commerce, 10% marketplace, 8% institutional, plus 5% recurring: with a legal status, these commissions become real declared revenue that is bankable and financeable.
Mini case study
Chidi, a freelancer in Lagos, earned around 400,000 FCFA-equivalent per month in referral commissions with no status. In 2026 he registers a Business Name with the CAC in a few days. He opens a business account, now invoices Kolonell and his clients, and secures a working-capital loan — impossible without a certificate and TIN. Entry cost: a modest filing fee; benefit: immediate banking and tax credibility.
FAQ
How long to get registered? With the CAC portal, expect a few days once the name is reserved and forms are filed.
Do I need capital for a Business Name? No, no minimum capital is required for a Business Name; share capital only concerns limited companies.
Do I have to charge VAT right away? It depends on your turnover and tax status. Below certain thresholds a simplified regime applies; check with the tax authority.
Is registration required to be a Kolonell partner? It isn't required to start, but a legal status makes invoicing and clean payout of your commissions (15%, 12%, 10%, 8% + 5% recurring) far easier.
Formalize, then monetize your network. Once registered, become a Kolonell partner and invoice your commissions legally. Let's talk about your project. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
