CAC To Register Companies, Approve Business Name Within 48 Hours
The Corporate Affairs Commission (CAC) has announced the commitment of the commission to register companies within 48 hours, approve names same day and ensure 5-day completion for other post-incorporation services not available electronically.
This disclosure was made by the Registrar General of Corporate Affairs Commission, Alhaji Garba Abubakar, during a chat with some media organizations in Abuja.
The commission’s boss also added that CAC was working assiduously to put a smile in the faces of customers and the public by the end of October, 2 months before its earlier announced target of December 2020.
In his statement, Abubakar said, “The Corporate Affairs Commission was committed to amongst others register companies in 48 hours, approve names same day and ensure 5-day completion for other post-incorporation services not available electronically.”
Abubakar stressed that despite the challenges of Covid-19 which forced the CAC to tinker with the way it conducts business, the commission made progress and was poised to live up to its newly released revised service timelines for the Covid-19 period.
The registrar general said, moving forward, the commission will soon be on par with the best registries in the world where customers will sit in the comfort of their rooms or offices and transact business with the commission without visiting its offices or sending any document through any designated courier company.
While speaking on CAMA, 2020, which he said was aimed at achieving 3 key objectives that include, to entrench the ease of doing business initiatives of the Federal Government, ensure greater disclosure and strengthen the legal framework, the registrar general enjoined Nigerians to read and properly understand the new law in order to take advantage of its provisions drafted in accordance with Open Government Partnership (OGP) and Extractive Industries Transparency Initiative (EITI) agreements.
Abubakar, therefore, used the media forum to advise Nigerians to take advantage of the diversity to advance peace, unity and progress in order to make Nigeria one of the best business destinations in the world.
Corporate Affairs Commission Issues New Guidelines For Ease Of Business:
“Name reservation/availability time is cut to 48 hours, correction of availability to 24hrs, while consent for restricted names, limited by guarantee & incorporated trustees will be done in 5 working days.” pic.twitter.com/Mp9uRr6KPx
— Ajuri Ngelale (@AjuriNgelale) October 3, 2020