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Tag: CAC

  • CAC inducts new Somolu DCC Superintendent

    CAC inducts new Somolu DCC Superintendent

    The Christ Apostolic Church (CAC) has inducted Evangelist Emmanuel Akeredolu as the new Superintendent of Somolu District Coordinating Council (DCC) Lagos.

    Akeredolu, who was inducted along with his wife at the District headquarter in Somolu, charged Christians to examine whether Christianity has influenced society in any way.

    “We all have a call to duty to build this nation, irrespective of any political divide. There is more that unites, than divide us,” he said.

    While appealing to Christians to continue in their prayers especially with the economy in serious crisis, Akeredolu pledged to adhere to the teachings of the bible.

    He vowed to also implement and develop ideas that would take the council to greater heights.

    On Evangelism, the new District Superintendent hinted that he would work closely with strategic partners to develop and deepen the outreach ministry and take the gospel to the doorsteps of those who have not seen God.

    He said door to door evangelism strategy would be enforced to achieve the desired goal of the gospel.

    “God expects us to do aggressive evangelism to reach the unsaved.

    “Our focus therefore should be obedience to the great commission of going into the world to make disciples of all nations,” Akeredolu stressed.

    Chairman of Christ Apostolic Church Men’s Fellowship as well as the Lagos 1 Districts Coordinating Council Superintendent, Pastor Oyepetun charged pastors to protect the flocks entrusted to them.

    Oyepetun said modern pastors must not only meet the spiritual needs of their flocks but also attend to physical needs like Jesus did.

    A retired Board of Trustees (BoT) member of the Christ Apostolic Church and General Evangelist, Pastor Olorunfemi Bamidele, tasked Akeredolu to spread the influence of the gospel within the community.

    Before his appointment, Akeredolu was Superintendent of Ayetoro DCC, Oshogbo, Osun State.

     

  • NEITI: Why we can’t trace oil block owners

    NEITI: Why we can’t trace oil block owners

    Owners of oil blocks and oil and gas assets are difficult to trace because they manipulated their records in the Corporate Affairs Commission (CAC), the Nigerian Extractive Industries Transparency Initiative (NEITI) has said.

    The extractive industry watchdog yesterday said the owners falsified their records to hide their true identity.

    Its Acting Executive Secretary, Mr. Ogbonnaya Orji, who spoke in Abuja during a meeting with delegates from the global Extractive Industries Transparency Initiative, EITI, led by the incoming Chairman, Mr. Fredrik Reinfeldt and civil society organisations, however noted that the  issue of beneficial ownership as contained in EITI’s standards, requires the identity of the true owners of oil blocks.

    He added that records of the companies in the CAC are shrouded in secrecy and do not provide correct information about the true owners.

    He  said this has been a  challenge in implementing this specific requirement of EITI, while he appealed to EITI to understand the peculiarities in the Nigerian environment.

    Said Orji: “Beneficial ownership requires us to explain or provide information on the owners of certain oil blocks. But Nigeria is one kind of country; that is why I say nobody is going to suspend us; when you think we are going down, we tend to rise up and surpass expectations.

  • NBA, CAC partner on reform of archaic laws

    NBA, CAC partner on reform of archaic laws

    The Nigerian Bar Association Section on Business Law (NBA-SBL) has backed moves to amend the Corporate Affairs Commission (CAC) Act.

    The section’s Vice-Chairman, Mr. Olumide Akpata, said it would work with CAC on reforms and in amending outdated aspects of the law.

    The commission has said from January 1 next year, it would no longer accept physical filing of documents, as everything will be done online.

    Apata spoke in Lagos at a sensitisation workshop jointly organised by CAC and NBA-SBL to enable lawyers interface with CAC for better service delivery.

    He said: “That law needs a little bit of a reworking just to bring it in tandem with current practices. I think there’s work going on in that direction.

    “One of the things we want to do with this collaboration is to look at the laws and identify areas we think need amendment and work with them to present them to the National Assembly and see to those amendments being passed into law.”

    According to Apata, there are “loads” of areas that need amendment, an example of which is the share capital a company must have before it can do certain type of businesses.

    “It is not only a CAC problem but a regulatory one. In other countries of the world, you don’t have those kinds of issues where somebody says you must have N10million share capital before you can register a company,” he said.

    Apata thinks lawyers should go beyond incorporating companies for business owners, who he believes can do it themselves with the new CAC online platform.

    He said: “We want to move away from a situation where all a lawyer does is set up companies. In the world today, and that’s just the reality, a man who intends to set up a business should be able to sit down in the comfort of his office or his study and set up one.

    “So, we need to adapt and find out ways of ensuring that we’re able to still be of service to the average businessman. There must be ways in which we’re needed.

    “I don’t think we should ever consider ourselves or set ourselves up as an impediment to people being able to set up their own businesses. Nigerian lawyers are smart enough to make the best of the situation.”

    Co-Chair of the SBL-CAC Joint Working Committee, Mr. Moyosore Onigbanjo (SAN) said incorporating a company should not be a herculean task.

    “We’re concerned with the ease of doing business. We feel that Nigeria should be a leader in terms of its economic might in Africa. Nigeria should also be the leader in terms of the ease of doing business. That is why we convened this workshop to iron out areas practitioners and stakeholders have issues with.

    “The main issue is that the CAC, which it has demonstrated, should be able to do business online, so that I don’t have to go to Abuja to conduct business. I don’t have to go to Alausa or Yaba where they have offices, that I can sit in my room and get my business done,” he said.

    CAC Registrar-General, Bello Mahamud, represented by his Special Adviser, Alhaji Garba Abubakar, said with the launch of the Companies Registration Portal (CRP) in February, businesses can be registered online.

    “While the commission has taken a giant step in providing a comfortable platform that will enable customers pay every filing fee to the Treasury Single Account with the CBN without difficulty, it has ensured that any complaint arising from this new filing regime is treated with utmost dispatch,” he said.

    According to him, previous software had several limitations, including inability to make online real-time payment, which he said have been addressed.

    Speaking with newsmen, Abubakar said with the reforms, the commission’s nodal offices in Enugu, Lagos, Kaduna, Kano and Port Harcourt have commenced start-to-finish registration of companies. Customers need not to go to Abuja for certificates.

    “The thinking is that everything you want to do with CAC, you have to do it in Abuja, but that has changed. Whatever you can get in Abuja, you can get it in Lagos and most of our offices outside Abuja.

    “People can process their registration in Lagos without having to come to Abuja. They can get their certificates within the same 24 hours that we process in Abuja.”

    Announcing some of CAC’s new policies, he said: “One is the collaboration with the Federal Inland Revenue Service (FIRS) towards integrating electronic stamping of documents into the registration portal. Some of the post-incorporation modules in the company registration portal will come into place in January.

    “The third one is that from January 1 next year, every customer that wants to deal with CAC must do it electronically. We’ll not accept physical filing of documents in our offices,” Abubakar said.

     

     

  • CAC to move from formal to informal sector

    CAC to move from formal to informal sector

    Registrar-General of the Corporate Affairs Commission (CAC) Bello Mahmud has said the target of the commission was to move to the informal sector.

    Mahmud spoke while declaring open the 2015 management retreat in Kaduna

    He said: “The commission, in collaboration with the Growth and Employment in States, (GEMS) of the Department for International Development (DFID), carried out a sensitisation campaign across the country on the benefit of business registration.

    “The target was to migrate from the formal to the informal sector. With the decentralisation of operations, incorporation applications can be processed and certificates of incorporation issued to customers without recourse to the Head Office.

    “This has significantly reduced cost of doing business as customers no longer have to travel or send documents to Abuja. The start to finish of company registration is currently obtainable in five states – Lagos, Enugu, Kano, Kaduna and Port Harcourt. The service will be extended to other states soon.

    Mahmud said emphasis was on the deployment of the new company registration portal, which he said was necessitated by the earlier content pinnacle software which has functional limitations in features and user ability.

     

     

  • CAC shines at Abuja fair

    The Corporate Affairs Commission (CAC) has been recognised as the best Government Agency Exhibitor at the just concluded 10th Abuja International Trade Fair for its commitment and facilitation of business startup.

    The Abuja Chamber of Commerce and Industry announced the recognition at the end of the fair.  The Commission was presented with a plaque and a certificate by the Vice President, Hon. Funsho Oridedi for its user friendly services.  The Commission’s desk also provided a guide on registration processes and requirements, making registration of companies easy.

    In addition, the CAC desk handled investor’s enquiries, enlightenment and encouragement of small scale entrepreneurs.

    Given the Commission’s commitment towards decentralisation and facilitation of investment, the Commission provided timely investment information and legal regulatory guidelines. It also created awareness on the illegality and dangers in operating unregistered businesses.

    It will be recalled that in order to ensure parity in its service delivery period across the country and ease business startup, the Commission decentralised its operations to allow for the processing of company incorporation from start-to-finish in the two Lagos offices and also in Kano, Kaduna, Enugu and Port Harcourt.  Hitherto State Offices could only register Business Names.

    The decentralisation has enabled those State Offices to process applications for new incorporation, print, seal and issue certificates without recourse to the Head Office.  This has reduced the period of incorporation to 24hours and will be extended to the remaining offices.

  • CAC restates commitment to customer service delivery

    CAC restates commitment to customer service delivery

    The Corporate Affairs Commission has pledged to improve on its customer service delivery. Giving this assurance was the Director, Customer Care, Lady Azuka Azinge

    She spoke at a forum to mark  the World Customer Service Week in Abuja.

    Azinge who admitted that the commission  faced some challenges occasioned by change in processes and administration, however assured that most of these changes were necessarily to improve on customer service delivery ultimately.

    by reason for the lingering crises is because the commission is going through changes.

    “One of the reasons there is lingering crises is because we are going through changes, and this is in so many directions, we changed our main service porter, moved into something more efficient, more modern, the new Treasury Single Account TSA, the government has just put in place is also another one because linking it to the commissions porter took a while, but gradually things are taking shape.

    “The TSA is fully functional in CAC right now, we are linked to the remittal which is the main porter that government is using to drive this policy and it is working very efficiently. Initially it was difficult but we are already operating it,” she enthused.

    Expatiating, she said: “The commission has customer survey which is carried out every week, this is to access the quality of our service as the customers perceive it, we do that from time to time, and that helps us to know where we are and what we need to do better.

    “The complaint we have from customers so far are long stay on queue to verify their receipt, we have to do that because the commission is a revenue generating organisation and we need to ensure the money paid in is actually in the porter before the service can be rendered.

    “Nigerians are not patient at all they want quick service, that is why the complaint by customers is much, so what we have decided to do is to increase the number of staff  doing the verification, and are pleading with the banks to come back to the commission’s building  instead of customers going, this will make it a lot more easier for customers. That way  they can pay through the same porter with the banks in the commission’s building.”

  • CAC, FIRS to partner on e-stamping of documents

    CAC, FIRS to partner on e-stamping of documents

    The Corporate Affairs Commission (CAC) is to partner with the Federal Inland Revenue Service (FIRS) to ensure the integration of e-stamping module into its company registration portal (CRP).

    The aim is to create a seamless registration process and further reduce time and cost of registration of companies and other post incorporation processes in the country.

    The Registrar-General Bello Mahmud gave this hint at the Nigerian Bar Association (NBA) conference in Abuja.

    Justifying the need for this partnership, Mahmud said it was part of major reforms in the Commission’s operations to make it possible for customers to pay for stamp duties and stamp their company registration documents electronically on the CRP.

    Mahmud said customers could stamp their documents on the CRP after completing their forms without manually taking them to stamp duties office of FIRS.

    He explained that CRP when fully developed would serve as a one-stop company’s registration software capable  of handling the stamping of incorporation documents, some post incorporation filings and other matters without users stepping out of their homes or offices.

    “The CRP has also eliminated the restrictions of time of the day and day of the week to transact business with the Commission,” he said, adding that customers can submit their registration applications at anytime including weekends and public holidays

    The Registrar-General said the CAC would adopt  in place measures to create log-in details for each company that is registered by it.

    The log-in details, he said will ensure that only authorized persons have access to the company’s profile to enable the operators make changes in the portal.  Such changes, Mahmud said, would include change of directors, appointment of secretaries, and increase in share capital.

    The objective, he said is to prevent corporate hijack, and ensure that only the right people make changes to the company’s records.

  • CAC boss decries double taxation

    CAC boss decries double taxation

    The Registrar-General of the Corporate Affairs Commission (CAC), Alhaji Bello Mahmud has called on the Chartered Institute of Taxation of Nigeria (CITN) to address double taxation in the country.

    Alhaji Bello Mahmud spoke when CITN’s Registrar/Chief Executive Mr. Adefisayo Awogbade and his team, led by the Chairman, Annual Tax Conference Committee, Samuel Agbeluyi visited the commission.

    The registrar-general stressed the need to harmonise tax to ensure that people do not suffer double taxation not to demoralise tax payers.

    He said the institute should partner the government to ensure awareness on the honest commitment of government to use taxes properly to enable tax payers appreciate the benefits of tax payment, adding that this would motivate tax evaders.

    Mahmud hailed the institute for planning the conference ahead as such would give room for greater event.  He assured that the CAC would sponsor its members in the commission to attend the conference.

    Earlier, the Registrar of the institute, Mr. Adefisayo Awogbade, said the purpose of the visit was to reach stakeholders, such as the CAC, to intimate it with its programmes particularly the institute’s 2016 Annual Conference next May.

    He added that part of their visit was for advocacy, adding that Nigeria cannot afford to be a mono-economy, given the advantages of diversification of the economy for more sources of revenue.

    The focus of the 2016 Annual Tax Conference is on ‘How to do more with internally generated revenue’.  The conference will address advocacy, proper use of tax revenue, mobilisation of revenue agencies to comply and pay taxes to develop the country, among others.

    According to the institute, the conference would enable stakeholders interact and meet minds on areas of collaboration.  The CITN is the professional body empowered by law to regulate the tax profession.  It is a training institute that trains and re-train.

  • CAC advises Buhari, governors

    CAC advises Buhari, governors

    The President of Christ Apostolic Church (CAC), worldwide, Pastor Abraham Olukunle Akinosun, has urged President Muhammadu Buhari and governors to be focussed on rebuilding the economy and value system.

    In a statement by the church’s Director of Publicity, Pastor Ademisoye Alawode in Ibadan yesterday, Pastor Akinosun said: “In this onerous task therefore, you need to be focused, determined and unsparing in executing your agenda for the revival of the nation’s economy.

    As a Church, I assure you that the Christ Apostolic Church faithful would continue to pray for your success, but all the good suggestions offered by the stakeholders for the revival of our economy, the achievement of peace and security and the revival of the comatose power sector, the fight against corruption and the restoration of value system into our polity, should be executed to the letter without fear or favour.

    As you do this the God of justice, fairness and good governance would back your resolve.”

    Pastor Akinosun urged first term governors to do everything within their powers to fulfil the promises made to the electorate.

  • CAC holds seven-day revival

    A SEVEN-day revival with the theme: “Stop them before they stop you” started at the Christ Apostolic Church (CAC) Victory Land, Pleasure DCC Headquarters, 7, Ajiboye Crescent, Pleasure Bus Stop, Agege, Lagos, on April 26.

    The revival, which features salvation, deliverance, breakthrough, etc.  starts at 5.30 p.m. daily, Monday through Thursday. It will be rounded off with a vigil on Friday. The vigil begins at 11.00 p.m.

    The revivalist is Prophet Samuel Adubina. The hosts are Evang. Samson Amao, Pastors M.O.E. Ige and James Adeyanju. The district chairman, Pastor S.A.O. Olatunji and DCC Superintendent,  Pastor C.S. Fasuyi are chief hosts.