The Registrar General of the Corporate Affairs Commission (CAC) Alh. Garba Abubakar has called on the relevance of the Commission in ensuring that only companies that are fit and proper should engage in public procurements in the country.
The concern was raised when the Chairman Board of Corporate Affairs Commission (CAC), Ademola Seriki, the RG of the CAC and other team met with the Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo, and Minister of State, Amb. Mariam Yalwaji Katagum on Tuesday in Abuja.
The RG explained that the essence of it is to checkmate some of its abuses by introducing adopting letters of good standing issued by CAC as part of the requirement for public procurements.
He further explained that the letter will show the names and address of companies , names of directors, the nature of business of the company and whether the company is in any kind of compromise with its creditors by way of receivership or liquidations.
On President Buhari’s assent of the Companies and Allied Matters (CAMA) Bill, 2020 recently passed by the National Assembly, Garba lauded the development and added that the country has not had any significant change in company law and regulations in the last 2 decades.
Earlier, the Chairman Board of Corporate Affairs Commission (CAC), Ademola Seriki said they were at the Ministry to show formidable appreciation and steer a clear message to Nigerians that this is a new steering wheel in the business area of the CAC under the leadership of himself and the Registrar General.