Does it ever cross your mind to change your company name after incorporation? It’s an important thing to consider. However, many founders and owners pay less attention to it.
During the incorporation phases of their company, most businesses try to fast-track and as a result file and document unintended matters. One such is the Company Name.
In this post, we seek to determine the legal possibility of companies changing the names they incorporated in Nigeria.
This article covers all of the steps involved as well as the hurdles involved in such a process.
Can You Change Your Company Name After Incorporation?
Yes, you can. The law permits companies to change their corporate names even after incorporation.
But, this must be done in line with the guidelines provided by the law. That’s what the next subheading covers – the procedures to follow to change your company name after incorporation.
Step By Step Process To Change Your Company Name
First of all, the company needs to pass a special resolution. This requires a 3/4th majority vote by members in a general meeting.
Once this is done, obtain approval from the Corporate Affairs Commission in writing.
Where the change is done, the Commission shall enter the new name in the CAC register.
- Obtain the new certificate of incorporation reflecting the new name.
- Note that CAC shall publish the new name periodically on its site and a national daily newspaper.
- It is noteworthy that a change of name does not erode liability for existing obligations under your former name. The CAC may also require you to compulsorily change your name where it is discovered that your company name bears semblance or conflicts with an existing or registered name. Do you want to change your company or business name, you can do so but seek advice from your attorneys for advice in this regard.
References
- 618 Bees, “How To Change the Name of your Company in Nigeria” available at https://www.618bees.com/article/1033-how-to-change-the-name-of-your-company accessed on September 18 2023
- Companies and Allied Matters Act available at, https://www.cac.gov.ng/wp-content/uploads/2020/12/CAMA-NOTE-BOOK-FULL-VERSION.pdf accessed on September 18 2023
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