The Nation Newspaper

Tag: CAC

  • Customs destroys 1,225 cartons of poultry

    Customs destroys 1,225 cartons of poultry

    The Nigerian Customs Service (NCS), Western Marine Command (WMC), Lagos, yesterday destroyed 1,225 cartons of contaminated poultry foods sized from smugglers.

    The Area Controller (CAC), Comptroller Audu Zaka, assisted by a representative of the National Agency for Food, and Drug Administration NAFDAC, Mr Adamu Isiaku and some other senior officers of the Command, supervised the destruction.

    Zaka said 55 bags of rice and 1,225 cartons of frozen poultry were seized in three days, adding that the total Duty Paid Value (DPV) of the intercepted items was N8, 576,844.50

    The consignments, he said, were smuggled into the country through Benin Republic to Awode Apa on the Nigerian side to Kese where the smugglers wanted to cross the Novo Creek to Ilasa in Ogun State.

    The feat, he said, was made possible because of the synergy with the Central Intelligence Unit (CIU) of the Command and the Comptroller-General’s Task Force.

    “The excellent information sharing between the command and the CIU is helping the command in its anti-smuggling functions. We monitored this consignment right from the border up to the point we intercepted them at Kese”, he said.

    Zaka said on October 31 and November 4, the Command intercepted 950 and 210 cartons of frozen poultry products, adding that the DPV was put at N6.175 million and N1.365 million.

  • CIBN, CAC urge on financial sector growth

    The Chartered Institute of Bankers of Nigeria (CIBN) and the Corporate Affairs Commission (CAC) have charged bankers on the need to deploy their services to enhance the growth of the financial sector.

    CIBN President Segun Aina, who spoke at the weekend after the institute issued practice licences and seal to 27 members, said the instruments confer credibility on the receivers, and serve as an indication of dedication, integrity and assurance of high competence. He said the certificates would make practising licensee more attractive to the clients, which would ultimately impact positively on their businesses and income.

    He explained that getting the licemce, requires that such applicants would have worked for five years post Associate of the Chartered Institute of Bankers (ACIB) qualification, passed the qualifying professional examinations and fulfilled other procedures set by the agency, adding that the banking industry offers a variety and unique career patterns that provide opportunities, advancements and challenging assignments for practitioners.

    “In approving the introduction of the Practice Licence, the Governing Council has taken the initiative to further empower the Licensees to practice what they know best using their cognate experiences. We are confident that they will provide invaluable services to a broad spectrum of individuals and organisations in a professional and ethical manner. I therefore take the liberty of this occasion to call on the public and private sector organisations, as well as individuals to give the licensees the opportunity to be of service to them,” Aina said.

    It said the licencing aligns with the CIBN Act No.5 of 2007 which gives the Institute mandate, to among others; determine the standards of knowledge and skill to be attained by persons seeking to become members of the profession. Section 16 of the Act also stipulates that a person other than a corporate member shall be deemed to practice as a member of the banking profession if, he engages himself in the practice of banking, or holds himself out to the public as a member of the banking profession.

    Registrar/Chief Executive of CAC, Bello Mahmud, said the corporation has beefed up its Information Technology connections for easier assessment of processing certificate for company’s registration.

    Mahmud, who was represented by Aliyu Muhammed, stated that CAC has attained a giant stride of issuing certificates with 24 hours, which is facilitated by the aid of ICT.

     

  • Oritsejafor urges clerics to stay off PDP crisis

    Oritsejafor urges clerics to stay off PDP crisis

    Following a row over the visit of some Niger Delta bishops to former Vice President Atiku Abubakar, the President of the Christian Association of Nigeria (CAN), Pastor Ayo Oritsejafor, yesterday urged the clergy to stay away from the crisis in the ruling Peoples Democratic Party (PDP).

    He said CAN did not engage in politics, adding that it would not dabble in the PDP crisis.

    There were indications that some forces in the Presidency and the PDP were uncomfortable with the visit to Atiku and Adamawa State Governor Murtala Nyako.

    It was learnt that the development forced the forces to conduct an “emergency” search at the Corporate Affairs Commission (CAC).

    Oritsejafor, who spoke with some select reporters on the phone, said CAN did not know the affected clerics.

    The CAN President was reacting to the visit of Niger Delta Bishops and Christian Forum and the Southsouth Christian Forum to Atiku and Nyako.

    He said: “We have heard about them and their exploits on meeting various politicians and promising to mediate and initiate dialogue between the PDP and their members.

    “We are a Christian body; we don’t involve ourselves in the political party’s internal affairs, let alone mediating between the PDP and its crisis.

    “We, as CAN, are apolitical. Honestly, we don’t know them. Their activities are worrisome and I, as the president of CAN, wish to plead and admonish politicians to bear the characters of some Nigerians who use the name of the Christians in Nigeria to do all sorts of things.

    “They should be careful with some groups that use the name of CAN to commit atrocities and fraudulent activities. What type of mediation would the so-called Niger Delta Bishops and Christian Forum be doing? I am the President of CAN and I can inform you that we are not aware of them.”

    The Niger Delta Bishops and Christian Forum were led by Prophet Jones Erue. The other bishops are: Julius Ediwe, Bob Manuel, Abhulemen Josiah, Konel Offiong, Innocent Chiedozie, Alex Okubo, Felix Ezebunwo, Charles Okoh , Peter Abingon and Archbishop Eddy Ogbonda .

    Speaking with our correspondent last night, Prophet Erue said: “Our forum’s visit was borne out of national interest because the Nigerian project belongs to all of us. We are leaders in our own right, the country belongs to all of us, we cannot fold our arms and allow the situation to degenerate. We have core belief in truth, justice and peace, which are the foundations of every good nation. A country not built on these principles cannot thrive. We did not visit Atiku or Nyako on behalf of CAN, we felt we must be a part of those driving the Nigerian project. We were moved by the level of impunity, intolerance and insecurity in the country…”

  • CAC Baba Abiye’s convention kicks off

    THE theme of the annual convention of Christ Apostolic Church (CAC) Ori-Oke Baba Abiye Ede Osun State is Dry bones shall live.

    The convention holds from November 13-15.

    A statement by the host, Prophet Funsho Akande, said Bishop Wale Oke, Pastor Segun Olatunde, Rev. Ade Ajala and Evangelist Bola Are are some of the invited ministers.

    He assured that expectant mothers and participants seeking salvation, healing and deliverance will return with fullness of joy.

    The event holds at CAC Ori Oke Baba Abiye (Ibadan-Iwo-Osogbo Highway, Iwoye junction Ede, Osun State).

     

  • Court dismisses suit against CAC

    Court dismisses suit against CAC

    A Federal High Court in Abuja has struck out a suit filed by Valenza Holdings Limited against the Corporate Affairs Commission (CAC) over bid to change the ownership of the company.

    Justice A. I. Chikere struck out the suit, which sought an ex parte order restraining the CAC from unwinding the company, for lack of merit.

    The firm sued the CAC, seeking to halt an unwinding proceeding initiated by one of its shareholders.

    In a 15-paragraph affidavit, the plaintiff averred that two shareholders, Patrick Nzekwe and Valentine Agusiobo, in June, last year, submitted themselves to an arbitration panel which produced an agreement.

    He said two directors of the company agreed on the ownership structure at a meeting on June 4, last year, but one of them opposed the move.

    The court heard that in the purported agreement, the two directors were supposed to relinquish a certain percentage of their shares to accommodate a third shareholder.

    Nzekwe was said to have refused to comply because he did not agree with the decision of Agusiobo.

  • Fed Govt cuts costs of registering businesses

    Fed Govt cuts costs of registering businesses

    TO encourage local and foreign investors, the Federal Government has slashed the cost of registering businesses by half.

    The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, told the Brazilian Deputy Minister of Development, Industry and Foreign Trade Mr. Richardo Schaefer, who led a 19- man delegation to his office yesterday that the new registration regime took effect from October 1.

    Aganga said the Corporate Affairs Commission (CAC) had reduced by 50 per cent equity registrations of N500 million or lower, and by 25 per cent for equity registrations of N500 million and above.

    He said: “The rationale behind the reduction in the cost of business registration is in line with the ministry’s investment climate reform programme aimed at strategically repositioning Nigeria as the preferred destination for both local and foreign investments.

    “Following the directive from the president, the CAC has since October 1, 2013, slashed fees for business registration by 50 per cent.

    “Under the new regulations, capital registration fees for companies (under Part A) have been reduced across board. While capital registrations below N1million will retain a flat fee of N10,000; all registrations between N1 million and N500 million are reduced by 50 per cent; and all registrations above N500 million are reduced by 25 per cent.

    “By this action, Nigerian companies will now save well over N2 billion per annum, which can be used to sustain their businesses, hire more staff, and expand operations. The new regulation has been deliberately set up to ensure the bulk of these savings go to smaller businesses, which need the lower fees more.”

    He said the signing of a Memorandum of Understanding (MoU) with Brazil would make it possible for agencies responsible for skills development , industry and development finance in both countries to work together to deliver better services for their citizens.

    “The aim of the MoU is to strengthen the economic cooperation between the two countries at the bilateral and multilateral levels; to increase and promote bilateral trade of strategic items of mutual interest, and support cooperation between institutions of both countries responsible for the promotion of trade and investment and official financing such as Banco Nacional do Desenvolimento Economico e Social (BNDES) and the Bank of Industry.

    “Also, we are looking at areas where Brazil can support our industrial, skills development and the growth of our Micro, Small and Medium Enterprises (MSMEs) in the country. Therefore, this MoU will bring together our MSMEs promotion agency(SMEDAN) and Servico Brasileiro de Apoio Micro e Pequenas Empresas (SEBRAE) , Servico Nacional de Apredizagem Industrial (SENAI) and the Industrial Training Fund (ITF) to drive the initiative.”

    Schaefer said the MoU would provide a framework for both countries to explore and increase trade and investment opportunities.

    He said: “We have signed a MoU today to deepen the trade and investment cooperation between Nigeria and Brazil. We need to deepen our cooperation in several sectors of the economy. Our governments, through this agreement, will evaluate, step by step, the different projects that are mutually beneficial to both countries. The MoU is an important tool to make things happen faster.

  • CAC may delist 45,000 firms

    CAC may delist 45,000 firms

    The Corporate Affairs Commission (CAC) said it has resumed striking off dormant companies from its list of registerd firms. The firms, totalling 45,000 have defaulted in the filing of Annual Returns since their incorporation despite several reminders.

    The Registrar-General, Bello Mahmud, who disclosed this during the presentation of the Commission’s report to the Annual General Conference of the Nigerian Bar Association, in Calabar, said: “The Commission will soon start the process of striking off companies that defaulted. He however said the commission will give the companies one last opportunity to update their records by publishing their names in two national dailies and the company’s website.

    “As part of efforts to meet the expectation of its customers and standardise its processes, the Corporate Affairs Commission introduced the Companies Regulation 2012.

    “The Regulation, which was approved by the Minister of Industry, Trade and Investment, Olusegun Aganga, pursuant to Sections 16, 585 and 609 of the Companies and Allied Matters Act (CAMA), is intended to fill some of the gaps in the substantive provisions of CAMA.

    “The Regulation now requires every Director and subscriber of Companies under Part ‘A’ and Trustees of Associations under part ‘C’ to submit recognised form of identification such as information page of International Passport, Drivers License or National Identity Card as proof of their identity before registration.

    “The new requirement will help to check cases of underage directorship, fake identification and fulfill national and international obligations under different Anti-Money Laundering and counter terrorism legislation.”

  • Accounting students visit EFCC, CAC

    Accounting students visit EFCC, CAC

    ACCOUNTING students of Adekunle Ajasin University, Akungba-Akoko (AAUA) have gone on academic visit to Abuja, the nation’s capital. The students, under the aegis of the Nigerian Universities Accounting Students Association (NUASA), were accompanied by the Head of Accounting Department, Dr E.I. Bowale, and a lecturer in the department, Mr Alade Muyiwa.

    During the three-day trip, the students visited top government’s organisations and financial houses. On the first day, students visited to the Corporate Affairs commission (CAC), where they were received and lectured by top officials of the organisation. On the same day, they visited the office of The Economic and Financial Crimes Commission (EFCC).

    On second day, the students left for Nigerian Stock Exchange (NSE) office, where they received training on how to trade in stock market by officials of the financial firm. They proceeded to the University of Abuja (UNIABUJA); they were received by the chapter president of NUASA, Ade Jacobs and his colleagues.

    The students were engaged in discussion on to tackle the challenges facing both institutions. They later gathered for group photograph.

    On the third day, the students visited Central Bank of Nigeria (CBN), where they were conducted round the facility by officials in accounting department. One of the places visited by the students was the CBN Currency Museum.

    The president of the students, John Oladele, said the visit was to educate members on certain area in the discipline. Describing the trip as successful, John appreciated the effort of his colleagues in making the excursion memorable.

    Vice President, Bisola Jubril, a 300-Level student, commended the association’s Staff Adviser for his encouragement. One of the participants, Eniola Aladetunlese, a 100-Level student, said the trip was educative.

  • Accounting students visit EFCC, CAC

    A CCOUNTING students of Adekunle Ajasin University, Akungba-Akoko (AAUA) have gone on academic visit to Abuja, the nation’s capital. The students, under the aegis of the Nigerian Universities Accounting Students Association (NUASA), were accompanied by the Head of Accounting Department, Dr E.I. Bowale, and a lecturer in the department, Mr Alade Muyiwa.

    During the three-day trip, the students visited top government’s organisations and financial houses. On the first day, students visited to the Corporate Affairs commission (CAC), where they were received and lectured by top officials of the organisation. On the same day, they visited the office of The Economic and Financial Crimes Commission (EFCC).

    On second day, the students left for Nigerian Stock Exchange (NSE) office, where they received training on how to trade in stock market by officials of the financial firm. They proceeded to the University of Abuja (UNIABUJA); they were received by the chapter president of NUASA, Ade Jacobs and his colleagues.

    The students were engaged in discussion on to tackle the challenges facing both institutions. They later gathered for group photograph.

    On the third day, the students visited Central Bank of Nigeria (CBN), where they were conducted round the facility by officials in accounting department. One of the places visited by the students was the CBN Currency Museum.

    The president of the students, John Oladele, said the visit was to educate members on certain area in the discipline. Describing the trip as successful, John appreciated the effort of his colleagues in making the excursion memorable.

    Vice President, Bisola Jubril, a 300-Level student, commended the association’s Staff Adviser for his encouragement. One of the participants, Eniola Aladetunlese, a 100-Level student, said the trip was educative.

     

  • CAC loses member

    A Deaconess of the Christ Apostolic Church (CAC), Warri, Delta State, Madam Anirejoritse Elizabeth Olugbo, has passed on. According to her daughter, Mrs. Josephine Ahonaruogho, who was there when she died last Monday, she was about 100 years old.

    A prominent trader, particularly in dry fish business during her younger days, the late Madam Olugbo, according to family sources, will be buried in her compound at Ekurede-Itsekiri, Warri on July 13 after a funeral service at the same venue. A Christian wake will be held in her honour on July, while an outing service will hold on July 14, at the CAC Cathedral, Warri-Sapele Road, Warri.

    Madam Olugbo is also survived by several grandchildren including Mr. Alex Gbiwen, Assistant Director, Office of the Secretary to the Government of the Federation, Abuja and Chief Richard Oma Ahonaruogho, immediate past president of the University of Benin Alumni Association (UBAA) and Chairman of the Conference of Alumni Associations of Nigerian Universities (CAANU); several great grandchildren, nieces, nephews, cousins and other relations.