Business

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.

Published

12 months ago

June 17, 2025

OCHEFA

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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

Official / Black Market Exchange Rates Today, Friday June 5, 2026

Published

15 hours ago

June 5, 2026

OCHEFA

13 Views

Official CBN Exchange Rates

US Dollar (USD) ₦1, 358.75

Great British Pound (GBP) ₦1,828. 06

EURO (EUR) ₦1,581. 58

SWISS FRANC (CHF) ₦1,724. 74

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦200.58

West African CFA (XOF) ₦2.40

SAUDI RIYAL (SAR) ₦361. 90

SOUTH AFRICAN RAND (ZAR) ₦83..65

Black Market Rates

US Dollar (USD) Buy ₦1,390 Sell ₦1,398

Great British Pound (GBP)Buy ₦1,580 Sell ₦1, 600

EURO (EUR) Buy ₦1, 590 Sell ₦1, 610

Canadian Dollar (CAD) Buy ₦1, 000 Sell ₦1, 100

South African Rand (ZAR)Buy ₦75 Sell ₦90

UAE Dirham Buy ₦350 Sell ₦370

Chinese Yuan Buy ₦180 Sell ₦200

Ghana Cedi (GHS) Buy ₦100 Sell ₦115

West African CFA Buy ₦2,450 Sell ₦2550

Central African CFA Buy ₦2,320 Sell 2,400

Australian Dollar Buy ₦800 Sell ₦900

Source: CBN/ Aboki Forex

Business

Dangote Refinery increases processing capacity to 700,000 bpd

Speaking on the development, Vice President of oil and gas at Dangote Industries Limited, Devakumar Edwin, said that the refinery plans to expand its processing capacity to 1.4 million bpd within the next 30 months.

Published

1 day ago

June 4, 2026

OCHEFA

16 Views

Dangote Petroleum Refinery & Petrochemicals has increased its crude oil processing capacity to 700,000 barrels per day (bpd), surpassing its official nameplate capacity of 650,000 bpd.

This was disclosed today in a statement issued by the Dangote Group’s Head of Corporate Communications, Anthony Chiejina.

Chiejina emphasised that the increased capacity highlights the refinery’s strong engineering design and operational efficiency.

According to him, the goal is to position the facility among the largest refineries in the world.

Edwin noted that the expansion would enhance Nigeria’s energy security, eliminate dependence on imported petroleum products, and strengthen the country’s position as a major exporter of refined products.

Business

NEPZA to go live on RevOP, FTe-R

Oyedele added that a total of 31 MDAs had already gone live on the platform and 21 more agencies are to be captured next, as the government is working assiduously to achieve 100 percent financial probity before the end of the year.

Published

2 days ago

June 4, 2026

OCHEFA

34 Views

Photo: Minister of Finance, Taiwo Oyedele

The Nigeria Export Processing Zones Authority (NEPZA) and 20 other Federal ministries and agencies (MDAs) have made a firm commitment to integrate and adopt the Revenue Optimisation and Assurance Platform (RevOP) and the Federal Treasury e-Receipt (FTe-R) to improve overall transparency in Federal Government financial operations.

RevOP is a digital, technology-driven system used to track, collect, reconcile, and protect financial revenues. These platforms are typically designed to identify revenue leakages, prevent fraud, automate billing, and ensure that every transaction is visible and traceable in real time.

This revelation came after a meeting between the Minister of Finance and the Chief Executive Officers of 21 affected agencies in Abuja on Tuesday.

The new RevOP was approved by the Federal Executive Council to eliminate day-to-day financial fraud and to advance the financial transparency initiative of President Bola Ahmed Tinubu’s administration.

The Minister, who was represented by the Permanent Secretary of the Ministry of Finance, Muhammed Sanusi, reminded the CEOs that the new revenue monitoring platform was created by the government to comprehensively record its revenue and expenses.