Registering a Company at CAC Nigeria: Steps, Cost and Timeline in 2026

The verdict in three sentences

Staying informal caps your revenue: without a TIN or registration number, no large contracts, no official Wave/Paystack merchant account, no bank credit. Formalizing is faster than founders think: a company registers at CAC Nigeria in 1-3 days online for NGN 10,000-30,000, and a SUARL at APIX Senegal in 3-7 days. The real cost of informality is lost revenue on tenders and online payments you cannot collect cleanly.

Informal or registered: what do you actually gain?

Many digital entrepreneurs operate informally for months before realizing what they leave on the table. A Wave Business or Paystack merchant account, a contract with an SME or a government body, a loan: all require an identification number and legal status.

In Nigeria, the CAC handles registration online. In Senegal, the APIX one-stop shop does. Both have heavily digitized their procedures.

CAC Nigeria vs APIX Senegal: cost and timeline 2026

Here are the 2026 orders of magnitude for the forms most common among digital entrepreneurs: the LTD in Nigeria and the SUARL in Senegal.

After registration, budget for opening a business bank account (1-2 weeks), activating the mobile-money merchant account, then the recurring duties: tax filings and annual returns.

Become a Kolonell referral partner

Once formalized, you can turn your network into income. Kolonell rewards referral partners who bring in web projects: 15% on a showcase-site sale + 5% recurring on maintenance, 12% on an e-commerce project, 10% on a marketplace and 8% on an institutional contract. A single 500,000 FCFA showcase contract earns you 75,000 FCFA up front, plus a recurring stream each month.

Mini case study

Fatou, a communications consultant in Dakar, operated informally. She loses an NGO tender for lack of a tax number. She registers a company in 5 days for the local equivalent of 60,000 FCFA. The next month she invoices the NGO contract: 1,200,000 FCFA with VAT in order. As a bonus, she refers the NGO's website to Kolonell (institutional, 8%) and earns 8% commission on a 6,000,000 FCFA project, or 480,000 FCFA. Her formalization pays for itself in the first week.

FAQ

What does registration really cost in 2026?

Expect NGN 10,000-30,000 at CAC Nigeria, or 25,000-100,000 FCFA for a SUARL at APIX Senegal, depending on capital and add-on fees. These are 2026 orders of magnitude; the registries publish current official schedules.

Do I need a notary?

For a standard LTD online in Nigeria, no: it is self-registration. In Senegal a simple SUARL goes through APIX without a notary; complex articles may require one.

Is a tax number mandatory for a merchant account?

Yes. To open an official Wave, Paystack or Orange Money merchant account and collect cleanly, an identification number (TIN in Nigeria, NINEA in Senegal) is required.

What are the duties after registration?

Periodic tax filings, bookkeeping and annual returns with the registry. Plan an accounting budget from the start.

How long before I can collect online?

After registration, budget 1-2 weeks for the business bank account and a few days to activate the mobile-money merchant account.

Let's talk about your project. We help you launch your website and online payments as soon as you formalize. WhatsApp +221 77 596 93 33.