October 18, 2021

Coin Tastic

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CAC to Unveil New Business Registrations

Mr. Garba Abubakar

James Emejo and Folalumi Alaran in Abuja

The Registrar-General, Corporate Affairs Commission (CAC), Garba Abubakar, has disclosed that two new forms of business registrations which were provided for by the Companies and Allied Matters Act (CAMA) 2020 will be available to Nigerians by the end of August.

He said the Limited Partnership (LP) and Limited Liability Partnership (LLP) were becoming increasingly desirable across various jurisdictions around the world.
Abu Bakar, at a stakeholders’ forum in Port Harcourt, Rivers State, also said that the commission was making arrangements to deploy a Customer Relationship Management (CRM) software next year.

He said the solution was designed to interact with customers and resolve their challenges within 24 hours.
The CAC boss also doused customers’ concerns over the commission’s denial of certain names for registration, adding that such rejected names had security implications while others were deceptive or abstract.

He therefore advised customers to always approach the commission with fully qualified names that equally agree with objects of the association or organisation applying for registration.

The registrar general who also used the forum to highlight the commission’s ongoing reforms stated that filing of statement of affairs and biannual statements were now conducted seamlessly on the companies registration portal.

He added that all but two forms of post incorporation filings were now available online 24 hours a day on the company registration portal.

Abubakar stressed that the CAC no longer entertain filing of share transfer as it was alien to the law, pointing out that information on Person with Significant Control (PSC) was available free of charge on the CAC website inline with global anti-money laundering requirement.

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