How to Register Your Import Business in Nigeria: CAC, TIN, and Everything You Need to Start Legally

Before you can open a Form M, clear goods at the port, or even open a corporate bank account, your business must be legally registered in Nigeria.

Without a CAC registration and a TIN, you cannot legally import into Nigeria. Banks won't process your trade transactions. Customs won't release your goods. Suppliers won't take you seriously.

The good news: the process is simpler and cheaper than most people think. This guide covers every step, from choosing your business structure to getting your company bank account ready for trade.

Total minimum cost to set up legally as an importer: approximately ₦50,000–₦100,000 all-in (CAC + TIN + bank account setup + initial fees), before your first shipment.

Why Legal Registration Matters Beyond Compliance

Many Nigerian importers try to shortcut this process. Some operate for years without formal registration, using personal bank accounts for business. Here's what you're giving up by staying informal:

You can't file Form M. Without a CAC registration and valid TIN, you cannot access the CBN trade portal. That means you can't legally import commercial goods into Nigeria at all.

You can't open a domiciliary account. Without a corporate account, paying suppliers in USD is harder, more expensive, and riskier — you're relying on third parties and informal channels.

You can't access trade finance. Banks offer Letters of Credit, invoice discounting, and import financing to registered businesses. Informal operators get none of this.

Your business name isn't protected. Anyone can register your trading name and you'll have no legal recourse.

You can't win government or corporate contracts. Any serious buyer will ask for your CAC documents. Without them, you're invisible to institutional clients.

The cost of staying informal is far higher than the ₦20,000 it takes to register.

Step 3: Get Your Tax Identification Number (TIN)

A TIN is a 12-digit number issued by the Federal Inland Revenue Service (FIRS) that identifies your business for all tax purposes. For importers specifically, it is mandatory for accessing the CBN Single Window Trade Portal — which is the only way to file a Form M.

The good news: getting a TIN is completely free.

Two ways to get it:

Through the CAC portal (automatic for companies): When you register a Private Limited Company with CAC, the system automatically generates a provisional TIN. However, this provisional TIN must still be activated/confirmed with FIRS before it becomes valid for trade purposes.

Through the FIRS directly: Visit jtb.gov.ng or your nearest FIRS office with:

• Your CAC Certificate (Business Name or Certificate of Incorporation)

• Valid government-issued ID

• Proof of business address

TIN is issued within 24–72 hours in most cases.

Important: A TIN from CAC is provisional. You must register it with FIRS to make it active for Form M filing and tax compliance. Many first-time importers miss this and wonder why they can't access the trade portal.

Step 4: Open a Corporate Bank Account

You need a corporate bank account to:

• Process Form M (your Authorized Dealer Bank handles this)

• Receive payments from customers professionally

• Access trade finance and letters of credit

• Pay supplier invoices in USD via domiciliary account

Documents required (Business Name):

• CAC Business Name Certificate

• Valid ID of all proprietors

• BVN of proprietor(s)

• TIN

• Proof of business address (utility bill, not older than 3 months)

• Passport photographs

• SCUML Certificate (if applicable — see below)

Documents required (Limited Company): All of the above, plus:

• Certificate of Incorporation

• Memorandum and Articles of Association (MEMART)

• CAC Status Report

• Board Resolution authorising the account opening and naming signatories

• Valid IDs and BVNs of all directors

For importers specifically: open both a Naira current account and a domiciliary account (USD, GBP, or EUR). The domiciliary account is what you'll use to pay foreign suppliers and fund your trade transactions. Banks like GTBank, Zenith, Access, First Bank, and Stanbic IBTC all have strong trade finance desks suited for importers.

Processing time: 24 hours to 7 working days depending on the bank and completeness of your documents.

What is SCUML — and Do Importers Need It?

SCUML stands for Special Control Unit Against Money Laundering. It's an EFCC unit that monitors Designated Non-Financial Businesses.

For most product importers (electronics, clothing, accessories, consumer goods), SCUML registration is not required. It applies primarily to: real estate businesses, car dealerships, jewellers, luxury goods dealers, lawyers, accountants, NGOs, hotels, and casinos.

However, if your bank asks for it, SCUML registration is free at scuml.org and takes 2–3 weeks to process. Don't pay anyone to "expedite" it — there is no official fast-track.

Step 5: Register with NAFDAC or SON (If Your Products Require It)

Most general goods (clothing, electronics, accessories, household items) only need SONCAP certification from the China side — which your freight forwarder or sourcing agent handles. But if you import regulated goods, additional registration is required:

NAFDAC — for food, beverages, cosmetics, drugs, medical devices, chemicals, and packaged water. Products must be registered with NAFDAC before they can be legally sold in Nigeria. Registration happens after you import, but you should research requirements before your first shipment.

SON (Standard Organisation of Nigeria) — for electronics, electrical equipment, tyres, and other regulated industrial products. The SONCAP program (handled in China before shipment) is the main compliance requirement for most importers of these goods.

If you're unsure whether your product needs NAFDAC or SON registration, check the relevant agency's website or ask your clearing agent before placing your first order. Getting this wrong costs far more than getting it right upfront.

Frequently Asked Questions

How long does the full setup take? If you move efficiently: CAC registration takes 1–3 days, TIN takes 1–3 days, and a bank account takes up to a week. You can be fully set up and ready to import within 2–3 weeks from scratch.

Do I need a lawyer to register my business? Not necessarily. Business Name registration is straightforward enough to do yourself on the CAC portal. For a Private Limited Company, a CAC-accredited agent or lawyer helps avoid errors with MEMART and share capital — typically charging ₦30,000–₦80,000 for the service.

What is the minimum share capital for a company? ₦100,000 for a private limited company. You don't need to have this cash in a bank account at registration — it's a declared figure in your MEMART.

Can I register from outside Lagos? Yes. The entire CAC process is online. Your registered business address can be anywhere in Nigeria. For the bank account, most major banks allow account opening at any branch nationwide.

What if my CAC certificate and my ID have slightly different name spellings? Banks will flag this immediately. Always ensure your name appears exactly the same on your CAC application as on your government-issued ID. If there's already a mismatch, get a sworn affidavit explaining it before going to the bank.

Step 1: Choose Your Business Structure

Before registering anything, decide what type of entity you're setting up. For importers, there are two realistic options:

Business Name (Sole Proprietorship or Partnership)

This is the simplest form: you register a trading name under your personal identity. It's the most affordable option and works fine for smaller import operations.

• Cost: from ₦10,000 (government fee) + ₦1,000 name reservation

• Processing time: 1–3 working days with the new AI-powered CAC portal

• Best for: Individual traders, small importers, first-time business owners

Limitation: Your personal assets are not legally separated from the business. If the business owes money, you owe money personally.

Private Limited Company (Ltd)

This creates a separate legal entity, so the company exists independently from you. It's required by some banks for large trade finance facilities and inspires more confidence with international suppliers.

• Cost: from ₦20,000 in government fees (varies by share capital) + ₦8,500 stamp duty for the first ₦1 million share capital

• Minimum share capital: ₦100,000 (for most private companies)

• Requires: Minimum of 2 directors, a registered address, Memorandum and Articles of Association

• Processing time: 1–2 weeks

Best for: Businesses planning to scale, access trade finance, or import in significant volumes.

For most first-time importers: a Business Name is sufficient to open a Form M, process customs, and open a corporate bank account. You can upgrade to a Limited Company later when your volume justifies it.

Step 2: Register with the CAC

The Corporate Affairs Commission (CAC) is the government body that registers all Nigerian businesses. Since 2024, the CAC portal has been upgraded to an AI-powered system, and most registrations are now processed digitally without any physical visit.

How to register a Business Name online:

1. Check name availability — visit pre.cac.gov.ng and run a public search for your preferred business name. You need a unique name that doesn't conflict with existing registrations. Avoid restricted words like "Federal," "National," "Government," "Bank," or "Insurance" unless you have approval.
   

2. Reserve your name — pay ₦500 to reserve your preferred name for 60 days. Submit two options in order of preference.
   

3. Complete your registration form (BN1) — enter your personal details, business address, and nature of business. Upload a valid government ID (NIN, Driver's License, International Passport, or Voter's Card) and a passport photograph.
   

4. Pay the registration fee — ₦10,000 for a Business Name, processed online through the CAC portal.
   

5. Download your certificate — once approved (typically 24–72 hours), your Business Name Certificate is issued digitally and downloadable from the portal.
   

For a Private Limited Company, the process is similar but involves additional documents: Memorandum and Articles of Association (MEMART), details of all directors (minimum 2), share capital structure, and registered office address. The CAC reviews and issues a Certificate of Incorporation, along with CAC Forms (Status Report, MEMART, and particulars of directors).

Common mistakes that cause rejections:

• Choosing a name too similar to an existing company

• Using restricted words without prior approval

• Submitting ID details that don't exactly match your name in the application

• Using a residential address without confirming it's acceptable

The Full Legal Setup Checklist for Nigerian Importers

Here's everything in order: