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Tag: CAC

  • CAC registers 76,000 companies in one year

    CAC registers 76,000 companies in one year

    The Corporate Affairs Commission (CAC) has registered 76,491 limited liability companies between last July 1 and June this year.

    It also registered 91,609 business names and 10,003 incorporated trustees under parts A, B and Act of its Act.

    The CAC said it struck off 38,717 companies and liquidated 77 others for not meeting their statutory obligations.

    The commission’s Registrar-General, Bello Mahmud, while reviewing its activities in the past year, said company registration activity witnessed progressive increase since the launch of the Companies Registration Portal (CRP).

    Bello said CAC has achieved almost all the targets of the National Action Plan set by the Presidential Enabling Business Environment Council towards improving Nigeria’s standing on the global ease of doing business index, especially on business registration timeline.

    He said CAC’s collaboration with the Federal Inland Revenue (FIR) on electronic stamping means memorandum and articles of association can be submitted and stamped online, thereby saving customers the stress of physical submission of documents at the stamp duty office.

  • Workers shut CAC office

    Workers shut CAC office

    The protest rocking the Corporate Affairs Commission (CAC) has entered its third day with the worhers refusing to open the gate and doors for resumption of work.

    The workers say until the Commission meets the agreement on the memorandum of understanding (MoU) signed by both parties, work will not resume.

    The Registrar General, Bello Mahmud told reporters that no salary is owed any worker, and no one can intimidate the management for not paying what is not approved by the government.

    He said: “The closure of the office has paralysed the activities of the Commission. On agreement signed with the union, the agreement contains some policy issues and this has to be cleared by the board.

    “Presently, the CAC does not have a board so the issue is left for the minister to deal with. The management has agreed with the minister on what area to touch.”

  • CAC phases out physical application submission

    CAC phases out physical application submission

    The Registrar-General, Corporate Affairs Commission (CAC), Bello Mahmud yesterday said the commission has phased out physical submission of new applications for registration in its six states offices.

    The states are Abuja, Lagos, Kano, Kaduna, Enugu and Rivers.

    Mahmud told reporters during a press briefing in Abuja on the reform initiative of the commission to ease registration process for its customers.

    He added that customers processing registration in those locations shall directly complete the application forms and other relevant information and pay the registration fee as well as stamp duty where applicable on the company registration portal CRP. Thereafter, they will  upload all necessary documents through the commission’s upload interface after due execution

    He said: “The objective is to ensure that Nigeria operates at par with some of the best companies registration in the world in the delivery of registration services.

    “In order to ensure seamless operation on the company registration portal and zero downtime, the commission outsourced the hosting of its main database and operating software to MainOne Data Centre in Lagos.

    “This will ensure 99 per cent uptime thus ensuring efficient registration services. The online registration is cheaper, faster and more convenient as transaction can be conducted from the comfort of homes and offices. Four days after the start of fully online registrations, over 1,250 transactions have been submitted online.

    “In order to get the commission’s accredited agents, lawyers, accountants,  chartered secretaries acquainted with CRP application, the commission has embarked on intensive training programme. The training which is a continuous exercise has been successfully held in Abuja, Lagos and kano. Another set of training is ongoing in Abuja.”

    Mahmud said the new system may not be without challenges, but promised that the commission will ensure that all such challenges are promptly addressed.

  • CAC introduces 24-hour company registration process

    CAC introduces 24-hour company registration process

    The Registrar-General, Corporate Affairs Commission (CAC),  Mr Mahmud Bello, says the commission has started operating 24 hours company registration process to make startup of business easier in Nigeria.

    Bello said this at the CAC Customers’ Forum in Kano, organised in collaboration with the Presidential Enabling Business Environment Council (PEBEC).

    The registrar-general made this known in a statement on Tuesday in Abuja

    He said that the aim of operating the new system was to ensure that business owners in Nigeria conveniently registered their businesses online within 48 hours.

    According to him, series of reforms has been implemented by the commission this year to make it quicker, cheaper and more convenient for Nigerians to start businesses.

    “CAC, as an agency of government involved in the startup of business, has keyed into the Federal Government’s vision to make Nigeria an easier place for businesses to start and thrive.

    “Our reforms are designed with the MSMEs in mind. For us, a customer is a king and must be treated with royalty,” Bello said.

    Bello said that manual application and registration processes would be gradually phased out in the course of the year.

    According to him, the manual registration phase out will  start with Lagos and Kano as from April 30, where all submissions should be done online.

    Also, the  Secretary of PEBEC, Dr Jumoke Oduwole, said the council was committed to providing complete support to CAC and all other MDAs to implement the reforms.

    According to Oduwole, the reform is to actualise the Federal Government’s mandate of making businesses work in Nigeria.

    The high point of the event was a demonstration session by the commission on its latest reforms such as document upload Interface which enabled e-submission of registration documents in CAC registration Portal.

    The demonstration also involves the integration of the FIRS e-payment solution into the portal to enable e-stamping.

    Accordingly, the participants were given a walk-through of the public search window and the single incorporation form.

  • CAC to end registration with fake identities

    CAC to end registration with fake identities

    The Registrar-General, Corporate Affairs Commission (CAC), Bello Mahmud has said the era of using fake identity for registration of businesses will soon be over. He said it is no longer enough to put a name down in registering companies, identities must be behind the names.

    Represented by his Special Assistant, Garba Abubakar during the Commerce and Industry Correspondent Round Table in Abuja yesterday, Mahmud said the Federal Government data base harmonisation is happening soon, which will confirm the authenticity of name and valid identity of citizens. For now who ever is registering any company must provide his drivers licence, international passport and valid identity card, he said.

    Mahmud said: “ßy the time the Federal Government data base are harmonised we will now confirm the authenticity of the information given to the commission through the national database, but presently the data base are not harmonised yet, it is still being worked on. At present, we are satisfied when someone submits evidence of a valid identity as part of the requirements for registration.

  • Strike: Govt agrees to pay CAC workers in arrears

    Strike: Govt agrees to pay CAC workers in arrears

    The three-day warning  strike embarked upon by the workers of Corporate Affairs Commission(CAC) has been suspended immediately.

    A statement endorsed by the Special Adviser to the Permanent Secretary, Aminu Bisalla, Babajide Ilotogen explained that it is sequel to the tripartite agreement reached between the Federal Ministry of Industry,Trade and Investment,the management of CAC and the leadership of Amalgamated Union of Public Corporations, Civil Service, Technical and Recreational Services Employees (AUPCTRE).

    The agreement,which was signed at the conference room of the Permanent Secretary resolved that the salary differential of nine per cent will be paid from January 2014 to date and that the management will ensure immediate approval from National Salaries Income and Wages Commission (NSIWC) for implementation and payment of the nine per cent within three months from the date of the agreement.

    It was also agreed that a committee will be reconstituted to bridge the gap in the salaries between the executive and non- executive staff within three months from the date of the agreement.

    Furthermore, Bisalla is requested to reconvene another meeting in May 2017 to consider the effect given to the agreements and other administrative issues raised by the workers.

  • CAC workers on three-day strike

    CAC workers on three-day strike

    The Amalgamation Union of Public Corporations, Civil Service, Technical and Recreation Service Employees (AUPTRE) Corporate Affairs Commissions (CAC) branch, has embarked on a three-day warning strike to push home their demands which were made four years ago and have not been fulfilled by the commission’s management.

    Its Chairman, Comrade Ibrahim Kirfi disclosed this during the strike action in Abuja, which led to the locking of the CAC gate and disallowing customers, workers, and other people entering or coming out of the premises.

    He said: “Four years down the line, management has failed to implement the content of this agreement and has not shown any intention to do so. The long period of the non- implementation of the agreement hiding under the pretext of unnecessary bureaucracy, management had in other different ways. It continued to deprive staff of their rightful entitlements while in their eyes, these monies are spent on so many unwarranted things.

    “The last thing that precipated this strike action was the refusal to attend to our demand after series of negotiations and consultations with management that later led to an issuance of a seven-day notice and another 14-day notice of an industrial strike commencin 15th February 2017.

    “It is pertinent to state at this juncture that having examined the spending pattern of the commission, it is expedient to re-present our demands.”

  • Recession’ll not last, says CAC president

    President of Christ Apostolic Church (CAC)Pastor Abraham Akinosun at the weekend assured Nigerians that the recession will end soon.

    The cleric said the present hardship would become a blessing in disguise.

    Akinosun, who spoke with reporters shortly after inaugurating the CAC staff guest house at Babalola Memorial Camp, Ikeji-Arakeji, said Nigeria would emerge stronger after its  economic crisis.

    His words: ”Things cannot be smooth forever in any country. There is time for everything under heaven.

    “This is a time we as a nation must pass through for us to receive blessings from God and appreciate Him.”

    “There was a time in the history of Ghana and India when they had this kind of problem,but today the story of these nations have changed. Very soon we will also laugh in Nigeria and the time is near.”

    He urged political leaders to rely solely on God as the solution to all problems and stop looking unto men.

    Akinosun warned  leaders not to promote the worship of idols.

    On the killings in Southern Kaduna, the CAC president warned the government against promoting and placing one religion over the other.

  • CAC’s General Evangelist Abiara loses wife

    CAC’s General Evangelist Abiara loses wife

    The wife of the General Evangelist of the Christ Apostolic Church (CAC) Worldwide, Prophet Samuel Abiara, is dead.

    Prophetess Christiana died on Saturday night at the age of 70.

    A statement issued on behalf of the church by its Director of Publicity, Pastor Ademisoye Alawode, reads: “The authorities of Christ Apostolic Church, Worldwide, have announced the passing unto glory of Evangelist (Mrs.) Christianah Aduke Abiara, wife of the General Evangelist of the Church, Prophet Samuel Kayode Abiara. The sad event took place at 9p.m. on Saturday, September 2, after the family’s night prayer. She was aged 70 years old.

    “The church’s President, Pastor Abraham Olukunle Akinosun and other principal officers, who visited the General Evangelist at his residence in Ibadan, expressed shock at the passing of Mrs. Abiara.

    “Pastor Akinosun described her as a pillar of support to her husband and a very generous and impactful woman to all those who came her way.”

    The General Secretary of CAC Worldwide, Pastor E. E. Mapur, described her as a virtuous woman, a spiritual amazon and a prayer warrior, who impacted the lives of everyone, who came her way.

    Speaking on behalf of the children, Pastor Isaac Abiara, in a telephone call from the United States (U.S.), said his mother would be missed by all for her love, care, generosity and prayers.

    The late Mrs. Abiara had both her primary and secondary education at Okesha, Ilesha.

    She went into trading before she met her husband about 55 years ago.  The marriage produced three set of twins.

    The church said funeral arrangement will be announced later.

  • CAC, FIRS partner on e-stamping module

    CAC, FIRS partner on e-stamping module

    The Corporate Affairs Commission (CAC) has entered a partnership with the Federal Inland Revenue Service FIRS to ensure the integration of stamping module into the commission’s company registration portal, CRP.

    In a statement obtained by The Nation, the Commission said the CRP is aimed at creating seamless registration process and further reduce time and cost of registration of companies and other post incorporation process in the country.

    In the statement which reads in part, it said: “The Commission in discharging its responsibility has evolved through several stages or era in its existence up till where it is today. The different portals include company’s registration portal, CRP. Due to the numerous limitations of the content pinnacle software, the Commission decided to initiate the process of developing any other software which will not only eliminate all the limitations, but will also place the Commission in its rightful place as a world class company’s registry true to its mission statement.”

    Besides, with this software the Commission’s customers do not have to physically visit the Commission any longer as they can apply for any of the services online and in real time at any time of the day and any day of the week from the comfort of their homes or offices. Since the launch of the CRP on the 2nd of February 2015, the Commission has commenced full online services for name reservation and registration across the three parts, part A- companies, part B- Business names and part C- Incorporated Trustees.

    The name reservation and registration, the Commission said, can be done online real time anywhere in the world.

    “If you already have a name reserve you can apply and make payment for registration of a limited liability company, business names, and incorporated trustees while seated in your house or office. Though customers still have to download the incorporation documents for signing by the subscribers, directors before they subsequently submit the same to the Commission. This is a temporary arrangement and it is expected to end when document archival system is fully introduced in the portal.”

    As at 14th August 2015 the following transaction have been done directly on the new portal. Account creation, public users -25,217, accredited customers – 860, name search- 67,190, registration: Limited liability companies 5,977, business names, 2,751, Incorporated Trustees – 456.

    The Commission is making arrangement to create log in details for each company that is registered by it. This log in details will ensure that only authorised persons have access to the company’s profile to enable them make changes in the company details in the portal.

    The Registrar General, CAC, Bello Mahmud said the Commission is putting in place measures to create log in details for each company that is registered by it.

    Besides, he said the new measures will ensure that only authorised persons have access to the company’s profile to enable the operators make changes in the portal.

    Such changes, according to the CAC boss, would include change of directors, appointment of secretaries and increase in share capital. The objective is to ensure that only the rightful people make changes to the company’s records.

    He said: “From the CAC inception in 1990 – 2004 the commission’s activities were manually done, while the post 2004 era witnessed automated of its services through the CAC online but with some limitation in user ability. The third phase which involved the deployment of a new software the company’s registration portal has eliminated all the limitations and has commenced full online services for name reservation, registration of companies, business names and incorporated trustees.”

    The measures, Mahmud emphasised: “Will ensure that “Customers can stamp their names on the CRP after completing their forms without manually taking them to the stamp duties office of the Federal Inland Revenue Service. The company registration portal when fully developed will serve as a one stop company’s registration software capable of handling the stamping of incorporation documents, some post incorporation filing and other matters. The CRP has also eliminated the time of the day and day of the week to do business with the commission, adding that customers can submit their registration applications at any time including weekends and public holidays.”