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NIGERIA: CAC Registers 73,000 Businesses in 3 months



The Corporate Affairs Commission, in its bid to encourage micro, small, and medium enterprises (MSMEs) to formalize their operations and enable them own corporate accounts with banks, have access to loans, grants and other government interventions, has successfully registered 73,000 companies within 3months.

According to the Acting Registrar-General of the Commission, Lady Azuka Azinge, who revealed that the corporation has been able to register 43,000 more businesses from the 1st of October to 1st December than the previous year (2017) which recorded 30,000 businesses. According to Lady Azuka Azinge, all these were achieved under the Business initiative Strategy (BIS).

The CICAN awardee as the best Chief Executive Officer of the Government Agency 2018, further called on private sector operators to take advantage of the BIS, since it has been given an extra 3 months extension till the end of March 2019.

She further stated that the commission has indeed worked in line with the 4 point agenda which includes decentralization of operations. “The commission has undertaken many initiatives. We are fully decentralized in our operation, whereby you now have online registration of business names, limited liability companies, as well as the incorporated trustees, which can be registered online 24hrs within which you get a certificate”.

She further stated that “payments are also done online, there is also integration with the FIRS on the issue of stamp duty.”

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