Partnerships in Nigeria are usually registered and structured under Business Names.
Business names are registration forms provided by CAC for persons who do not want
the technicalities that accompany corporate structures.
Can I Change From A Partnership Structure To A Private Company? Yes
The first thing to do is to make a formal application to the Registrar General of CAC for
conversion.
Application must be accompanied by the original Business Name certificate.
The authorization of conversion from the partnership must also be provided.
Submit evidence of filing of up to date annual returns.
Pay prescribed fees as provided by CAC
The Registration General will generally review application and grant approval where
satisfied.
Where approval is granted, the applicant may re-register a private company.
Conclusively, the advantages that come with structuring as a registered company are
quite apparent. Many businesses are undergoing a restructuring due to these corporate
benefits. The steps highlighted above are quite simple any applicant operating a
partnership form may switch to a company and enjoy the benefits.
References
1 Shannon Okubor, “How To Upgrade From Business Name To Company Incorporation In
Nigeria” available at, https://www.sme360.ng/2022/08/04/how-to-upgrade-from-business-
name-to-company-incorporation-in-nigeria/ accessed on Feb 23 2023
2 https://resources.diylaw.ng/converting-business-name-limited-liability-company/
accessed on Feb 23 2023
3 https://businesspilot.net/how-to-change-your-business-name-to-limited-company-in-
nigeria/ accessed on Feb 23 2023
Visit our website for more details and follow us on our social media handles for news
updates and informative articles.
Website: www.scottslegal.com
Email: info@scottslegal.com
Twitter: scott_legal
Instagram : Scott’s legal
LinkedIn- Scott’s Legal