Due to the quest for jobs and money, it is now so easy for fake companies to claim authenticity. These companies have made so many people lose a huge amount of money. You wouldn’t want to be one of those with such experience, would you? Not at all. That is why you must check that company you want to work with and know if it’s registered (legit) or not. If it’s not, you may have to run or stay back and cry later.
A fully registered company must have the following;
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- RC number ( Company Registration Number). This is the number issued to every individual company that has successfully registered the company with the CAC (Cooperate Affairs Commission)
- A registered business address. The main location of your company or your business headquarters.
- Date of incorporation or date of registration.
- TIN ( Tax Identification Number). This number is issued by the Federal Inland Revenue Service as a means of certifying that the government recognizes the company as a taxpaying company.
- BN ( Business name number).
Agencies involved in company registration and verification
- COOPERATE AFFAIRS COMMISSION: It came into existence in 1990 under the companies and allied matters Act. to regulate and manage the formation and activities of companies in Nigeria.
- FEDERAL INLAND REVENUE SERVICE
The group is in charge of all tax and revenue-related matters. Since it obligatory for registered companies to pay task, it becomes a criterion for knowing a government recognized company.
- JOINT TASK BOARD.
They also issue the TIN ( Tax Identification Number) and take part in the verification of a company’s authenticity.
How to check if a company is registered
Checking a company’s registration status was a rigorous process before now. But due to the increased scam rate, it was made simple. Now, you can check a company’s authenticity while lying down on your bed or even in the middle of your dinner.
There are two steps involved in checking if a company is registered.
Check the company through Cooperate Affairs Commission (CAC) website.
Verify the company through Federal Inland Revenue Service (FIRS) website.
Checking a company’s registration status with the CAC website
- visit the CAC website
- type the name of the company in the provided space with “PLC” or “Limited” or “LTD” attached.
- complete the ” I am not a robot” test.
- click the search button.
First, if the company is registered, you’ll see pieces of information such as RC number, company name, date of incorporation, address, and status.
Second, if it’s not registered, the results will be nill. There will be no result.
Lastly, the company may still be undergoing registration. It will display registration in progress.
Verifying a company’s registration from the FIRS website
- Visit the FIRS verification page.
- Scroll down to the search form.
- Select the CAC registration number in the search criteria dropdown list.
- Enter the CAC registration number.
- Type the correct captcha image and click on the search button.
If the form is well filled and submitted, the company’s details will display, meaning that it’s registered.
Alternatively, you can follow this process
- Visit the joint task board TIN verification page.
- On the TIN registration search panel, enter the company registration date.
- Select search criteria ( TIN, BVN, company registration number ( RCxxxxx, BNxxxxx ) or registered phone number.
- Complete the Captcha box( I am not a robot box).
- Click on submit.
If the information inputted is correct, the company’s name and details will be displayed on the screen or even emailed to you, but if not, it will show a nill result.
Can illegal companies be registered in Nigeria?
Scammers have their mischievous ways of getting themselves registered to convince people and scam them. But with the aid of the BVN, it is difficult for them to escape the nemesis when eventually discovered.
How relevant is the RC number?
RC number is for checking a company’s registration status. It is the most important data of a registered company and a trusted means of identification as well.
What are the best ways to know if a company is genuine?
- A genuine company must be registered with the appropriate registration commission.
- A genuine company must have a satisfactory method of receiving payment.
- A genuine company must have a physical building, serving as a business address and location.
- A genuine company must have positive testimonies from other people who previously got involved.
- business address and landline number
- company name
- WHOIS database
- spelling and grammar on the website.
- company registration data.
Don’t be too quick to enter into a partnership with every company. Ensure you check out the company to know if its government recognized and registered. With this, you don’t have to worry a lot about your investment.
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