Overview
The loss of a Corporate Affairs Commission (CAC) certificate can be unsettling, especially since this document is essential for many business transactions in Nigeria. Whether you’ve misplaced your certificate or it’s been stolen, the CAC has a straightforward process to help you obtain a certified replacement. This article will guide you through the steps to recover your lost CAC certificate, the requirements, and some tips to ensure a smooth process.
Importance of the CAC Certificate
The CAC certificate is an official document issued after the successful registration of a business or company. It serves as proof of legal existence and is often required for:
- Opening a corporate bank account.
- Applying for loans and grants.
- Participating in government contracts.
- Registering with other regulatory bodies.
Steps to Recover a Lost CAC Certificate
- Obtain an Affidavit of Loss
The first step in recovering a lost CAC certificate is to swear an affidavit at a court of law. This document serves as legal evidence of the loss and includes:
- Your full name or the company name.
- The registration number of the business or company.
- Details of how the certificate was lost or stolen.
Tip: Ensure the affidavit is sworn at a recognized court to avoid any future complications.
- Gather Required Documents
Before proceeding to the CAC accredited agent, ensure you have all the necessary documents:
- The sworn affidavit of loss.
- A valid means of identification (e.g., National ID, International Passport, or Driver’s License). This may not be necessary if the affidavit bears your passport photograph
Note: If you are acting on behalf of the company, you must include a letter of authorization signed by a director or proprietor.
3. Contact an Accredited Agent
Since this is a post registration service, you will need to engage the service of an accredited agent. An accredited agent will simplify the process and ensure faster service.
4. Await Verification and Processing
The CAC will verify the submitted documents and details of the loss. If everything is in order:
The replacement certificate will be processed.
The timeframe for receiving the replacement is typically within 1–5 working days, but this may vary depending on the CAC’s workload.
Cost of Recovering a Lost CAC Certificate
The cost of recovering a CAC certificate includes:
- Affidavit Fee: Varies by court but generally between ₦500 and ₦2,000.
- CAC Processing Fee: As of now, this fee is approximately ₦5,000–₦10,000.
Important: These costs may vary depending on the number of CAC documents you want to retrieve, so it’s advisable to confirm rates from accredited agent.
How to Prevent Loss of a CAC Certificate in the Future
To avoid the hassle of recovering a lost CAC certificate, consider the following:
- Digitize Your Documents: Scan and store a digital copy of your CAC certificate in cloud storage or email it to yourself.
- Secure Physical Storage: Keep the original certificate in a fireproof and waterproof file.
- Notify Stakeholders: Inform key business partners and staff of the importance of securing this document.
Common Challenges and Solutions
Delays in Processing: Follow up with the Corporate Affairs Commission regularly to check the status of your application.
Missing Information: Ensure all submitted documents are complete and accurate to avoid rejection.
Difficulty Locating Documents: If your business registration number or other details are missing, you can perform a CAC public search to retrieve the information.
Conclusion
Recovering a lost CAC certificate is a manageable process if approached correctly. By following the steps outlined above, you can minimize delays and get your replacement certificate without undue stress. Remember to keep your new certificate secure and maintain digital backups to avoid future issues.
If you need professional assistance, our team of CAC experts is available to help. You can contact us here
Adebayo Oluwole is a seasoned chartered accountant and a member of Chartered Institute of Taxation of Nigeria with over twenty years of experience. His expertise cuts across accounting, auditing and taxation. He has helped hundreds of individuals translate their dreams into reality by offering them pre and post registration services. His focus is to help SMEs grow in the marketplace.