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CAC unveils new service fees starting August 1

For companies, notable revisions showed that the voluntary striking-off fee has been raised from N25,000 (for small companies) to N50,000, and N100,000 for public entities.

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The Corporate Affairs Commission (CAc) on Tuesday, announces an increments for its service fees review certain service fees effective the 1st day of August 2025.

In a statement , the Commission said that the new fees are a reflection of the current economic conditions and rising operational expenses.

The CAC added that the new development is expected to have implications for business owners, legal practitioners, compliance officers, and stakeholders engaging with the corporate registry for post-incorporation filings and regulatory services..

Said CAC: ” the reviewed fee structure affects services offered to companies, limited partnerships, business names, and incorporated trustees.

For companies, notable revisions showed that the voluntary striking-off fee has been raised from N25,000 (for small companies) to N50,000, and N100,000 for public entities.

Relisting of a Company now costs N50,000 for LTD/GTE and N100,000 for public companies.

Due Diligence Search (Self-Service) has been fixed at N50,000 across all categories.

The commission said the request for an extension of time to hold the annual general meeting will now cost N100,000 for public companies, and N50,000 for others.

Historical Search Reports: Depending on the type, public users will now pay N20,000 to N30,000 per request.Other charges include N25,000 for restriction of the director’s residential address and N5,000 per certified true copy of documents or extracts.Under Limited Partnerships, the updated fees are as follows voluntary Striking Off and Relisting: N25,000, letter of good standing: N10,000, Registration and CTC of Documents: N30,000, Change of Name: N10,000.

For Business Names, the structure reflects modest increments of N10, 000 for voluntary striking off, relisting: N25,000, application for cessation N10,000, CTC of Documents/Extract: N5,000 each, restriction of Proprietor’s Address: N25,000.

The commission stated that name reservations across the board remain at N1,000 while name reservations for restricted words cost N5,000.”

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Business

June Tax Returns: FIRS Extends Office Hours to Weekends

“As you are aware, the month of June marks the peak of the annual Companies Income Tax (CIT) filling season, with many taxpayers whose financial year ends 31st December expected to file their tax returns by June 30.“

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THE Chairman of the Federal Inland Revenue Service (FIRS), Zaacheus Adedeji, has directed the extension of tax office operations to weekends for the month of June.

In a statement on Monday, Dare Adekanmbi, Special Adviser on Media to the FIRS chairman, explained that the directive is part of Adedeji’s commitment to matching the agency’s customer-centric policy with tangible action.

The statement reads: “The weekends service, which started on June 14, will end on Sunday, June 29, “and it is aimed at helping companies who are mandated by law to file their tax returns by the end of the month meet up with the deadline.”

“With the directive, tax offices are expected to open for business from 10:00 a.m. to 4:00 p.m. on Saturday and 12:00 p.m. to 4:00 p.m. on Sunday throughout the month of June.”

Consequent upon Adedeji’s approval, the Coordinating Directors of Large Taxpayers Group (LTG), Government and Medium Taxpayers Group (GMTG) as well as Emerging Taxpayers Group (ETG), Ms Amina Ado, Dr Dick Irri and Mr Kabir Abba respectively have conveyed the decision of the management to all staff in the tax offices in the three groups.

“As you are aware, the month of June marks the peak of the annual Companies Income Tax (CIT) filling season, with many taxpayers whose financial year ends 31st December expected to file their tax returns by June 30.“

To ease the process for taxpayers, enhance service delivery, and maximize tax collection during this critical period, management has approved extension of tax office operations to weekends for the month of June 2025,” a directive jointly signed by the three Coordinating Directors said.

The FIRS chairman, on assumption of office, reorganized tax operations for ease of tax payment, leading the transformation of the agency from merely being a tax-collecting entity to a service-providing body.

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Dangote Expands Sugar Refinery Business To Ghana

The Dangote Group say that the investment will reduce Ghana’s $162 million annual sugar import bill and boost local industrial growth.

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Africa ‘s richest industrialist- Aliko Dangote, is constructing another sugar refinery in Ghana

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The Dangote Group say that the investment will reduce Ghana’s $162 million annual sugar import bill and boost local industrial growth.

The expansion is also part of Dangote’s broader goal to expand integrated agriculture across Africa.

The factory, located at Kwame-Danso Bono East Region as part of the government’s “One District, One Factory” initiative, has the capacity to crush 12,000 tons of sugarcane per day throughout a 25,000-hectare irrigated sugarcane plantation.

It will also produce byproducts like molasses and ethanol.

In a LinkedIn post, the Dangote Group described the project as more than just a factory, calling it “a catalyst for self-sufficiency, employment, and continental transformation.”

Meanwhile, Dangote Sugar Refinery Plc – its Nigerian operation is already the country’s largest sugar producer, with a crushing capacity of 1.44 million tonnes.

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Israel-Iran conflict sharply drives Nigerian petrol prices up as crude oil hits $74pb

According to Petroleumprice.ng, the depot prices of petroleum products would continue to rise in the coming weeks, due to instability of the global oil market.

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The ongoing Israeli-Iran conflict has triggered an upward adjustment in petrol prices by 10 marketers as crude oil rose 8.8 per cent to $74 per barrel from $68 per barrel.

The 10 oil marketers that adjusted depot prices included Aiteo, Pinnacle, Dangote, MENJ, Swift, Rainoil, First Royal, Emadeb, First Fortune and Ever.

EMADEB made the highest adjustment to N845 from N827 per litre, indicating an increase of 2.18 percent while Ever implemented the least adjustment to N870 from N866 per litre, showing a marginal increase of 0.46 percent.

Also, Aiteo adjusted its depot price to N840 per litre from N835 per litre; Pinnacle adjusted to N845 per litre from N829 per litre while Dangote Petroleum Refinery adjusted to N840 per litre from N830 per litre.

MENJ, Swift and Rainoil (Lagos) adjusted prices to N850 from N810 per litre, N845 from N830 per litre and to N850 from N840 per litre, respectively.

First Royal and First Fortune also adjusted their depot prices to N838 from N826 per litre and N860 from N850 per litre, respectively.

According to Petroleumprice.ng, the depot prices of petroleum products would continue to rise in the coming weeks, due to instability of the global oil market.

Crude prices are expected to rise further should Iran carry out its threat to block the Straight of Hormuz, which is responsible for the shipment of more than 20 per cent of global oil and gas.

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