The Corporate Affairs Commission, CAC, has issued a circular declaring that schools will no longer be approved as business names under its new policy.
The circular dated March, 4, 2022, which emanated from the Registrar General of CAC to all approving officers of the Commission, said the Registrar-General has directed that henceforth Schools, Academies and such other institutions of learning should not be approved or registered as business names.
“This is because an institution is essentially a body corporate with perpetual succession, capable of contracting and (subject to such restrictions as may be imposed by other laws) issuing certificates in its own name, which attributes are absent in a business name.
“All Approving Officers (AOs) for Name Availability and Business Name registration are hereby advised to note the above and be guided accordingly,” it said.
The circular was copied to the Director, Customer Service Department; Director, Business Names Department; Director, Compliance Department; Director, State and Nodal Operations Department; Head, Registry Department; SA to the RG; and Heads of State Offices.
