CAC registers 69,000 business names in two months

The Corporate Affairs Commission (CAC) has revealed that it registered over 69,000 entities in two months, following the launch of its Business Incentive Strategy (BIS).

Acting Registrar-General of CAC, Lady Azuka Azinge, who made this known during a media roundtable in Abuja recently explained that prior to this, what they had in three months of the same period was about 50,000 and in two months we have done over 69,000.

She said by the end of December we are still expecting to have a very large number of businesses registrations.

According to her , the BIS which crashes the cost of business registration from N10,000 to N5,000 for a period of three months (1st October to 31st December 2018), was put in place to enable massive registration of small businesses in the country.

“Already people are asking for extension and we have just written to the minister to extend it for another three months. Most state governments are asking and several associations are also asking and commending the initiative, and saying that we should please give more time to enable them register.”

She said the initiative was in line with the major thrust of the present administration which centred on diversification and revamping the economy through support for MSMEs.

The CAC boss said the Commission has also deployed a user-friendly Company Registration Portal (CRP) which affords customers real-time access to the services of the Commission from the comforts of their offices or homes.

While commending the efforts of the Presidential Enabling Business Environment Council (PEBEC), Lady Azuka said CAC has fully keyed into the laudable agenda in order to make Nigeria a progressively easier place for businesses to start and thrive.

She listed some of the reform initiatives recently put in place by the Commission to include digitalisation of legacy records, full decentralisation of operations, removal of proficiency certificate for business registration, integration of CRP to the Stamp Duty Portal of the Federal Inland Revenue Service (FIRS), among others.

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