The Nation Newspaper

Tag: Corporate Affairs Commission (CAC)

  • Register NFF as an NGO in CAC – Amiesimaka

    Register NFF as an NGO in CAC – Amiesimaka

    Ex- Green Eagles winger, Adokiye Amiesimaka, says the recent Nigeria Football Federal bill passed by the Senate is a waste of time.

    Amiesimaka made the assertion in a chat with the News Agency of Nigeria (NAN) on the telephone from Port Harcourt.

    He, however, said that the NFF should be registered as a Non-Governmental Organisation at the Corporate Affairs Commission (CAC) as required by FIFA.

    “What the National Assembly has done is an absolute waste of time and taxpayers’ money, that is not what FIFA wants.

    “FIFA does not want an act of the National Assembly to determine how we run our football no, FIFA itself is in Switzerland is an NGO, a Non-Governmental Organisation.

    “ Which is incorporated just like we incorporate any NGO. it is incorporated under the laws of Switzerland that is what we are expected to do here,” he said.

    According to Amiesimaka, we are expected to incorporate the Nigeria Football Federation with the Corporate Affairs Commission, under part C of the Companies and Allied Matters Act as an NGO.

    The ex-international, who was part of the 1980 Nations Cup winning team, said the NFF will be in friction with World Football Governing body, FIFA with the new bill.

    “It is to be known and recognised by our law but not established by law, FIFA doesn’t expect any of his affiliate to be established by law, and they were expected to be incorporated under our law.

    “So, what the National Assemble has done as I said is an absolute waste of time and taxpayers money, they are still going to be in friction with FIFA I can tell you that,” he said.

    Amiesimaka stated that what FIFA said was that if you are a stakeholder in its association, its affiliate, they can participate in the running of that association or federation.

    “So, all we need to do is to reflect the role of the federal government as a stakeholder in the running of in the status, when we do that, the federal government will no longer be seen as a third party,” he said.

    The sponsor of the bill, Sen. Obinna Ogba,  said it would bring court cases to rest as issues regarding the NFF would be tackled by the Court of Arbitration and not regular courts.

  • Presidential panel ratifies two days for new business registration

    The Presidential Ease of Doing Business panel has reduced the number of days required for registration of new businesses in Nigeria from 10 to two days.

    The panel also approved 24-hour timeline for company registration from when application form was completed and all required documents made available.

    Those were among highlights of a report presented at a Presidential Enabling Business Environment Council (PEBEC), on Monday at the Presidential Villa.

    The report was presented by Dr Jumoke Oduwole, Senior Special Assistant to the President on Trade and Investment and came as reforms targeting the end of the 60-day Action Plan on Ease of Doing Business in Nigeria.

    According to the recommendations prospective business owners can now search on Corporate Affairs Commission (CAC) portal   (www.cac.gov.ng) to avoid duplication of names and prevent selection of prohibited names.

    Also it is now optional for SMEs to hire lawyers to prepare registration documents for companies.

    The Council, established by President Muhammadu Buhari, is chaired by Vice President Yemi Osinbajo.

    However, Monday’s meeting was chaired by Transportation Minister Rotimi Amaechi, as the Vice President was busy with the work of the Presidential Investigative Panel set up for two top government officials.

    According to the report, CAC has introduced single incorporation form (CAC1.1) to save time and reduce costs while the agency has introduced document upload interface on its website to enable e-submission of registration documents.

    Other aspects of the reforms actualized in the last 60 days include the Integrated FIRS e-payment solution into CAC portal to enable e-stamping while the reform empowers CAC internal lawyers to certify company incorporation forms and conduct statutory declaration of compliance for just N500.

    According to the report, the PEBEC listed “dealing with construction permits, getting electricity, registering property, getting credit and paying taxes,” as some of the areas where the council recorded progress in the past 60 days.

    The report also highlighted the completed reforms on the “Entry and Exit of People,” indicator which includes Simplified Visa-on-Arrival process, Infrastructural improvements at the Abuja airport, and the new Immigration Regulation 2017.

    It also indicated that the completed reforms were being closely monitored to ensure diligent implementation with minimal disruption while pending reforms were being escalated to ensure completion in the coming weeks.

    On Trading across Borders, some of the completed reforms include palletisation of imports, advanced cargo manifests, reduction in documentation requirements and scheduling of Joint Physical Examination by the Customs Service.

    The National Action Plan contained initiatives and actions implemented by responsible Ministries, Departments and Agencies (MDAs), the National Assembly, a number of State Governments, as well as some private sector stakeholders.

    The Council emphasised that with the conclusion of implementation of the Action Plan, it would move into the next phase.

    That phase would involve “deepening existing reforms; completing and implementing pending initiatives; engaging with the public; validating completed reforms and kicking-off medium-term reforms.”

    The Council would also begin “sub-national reforms across Nigeria’s 36 states; trading within Nigeria; initiatives and reforms improving business processes and regulations within Nigeria; and ease of movement of goods within and across regions in Nigeria.”

    Ministers at the meeting included Foreign Affairs Ministers Geoffrey Onyeama, Minister of State for Industry Trade and Investment Aisha Abubakar, and her counterpart in Budget and National Planning Zainab Ahmed.

    Other government functionaries at the meeting included the Head of Service, Mrs Winifred Oyo-Ita, and several heads of MDAs.

  • Court orders temporary forfeiture of building belonging to PDP Senator

    A Federal High Court, Lagos, on Monday, ordered the temporary forfeiture of a 12-storey building belonging to a People’s Democratic Party (PDP) Senator, Peter Nwaoboshi.

    The property located at 27, Marine Road, Apapa, is said to belong to Nwaoboshi who is senator representing Delta North Senatorial District.

    The court’s order was sequel to an ex-parte application, filed by the Economic and Financial Crimes Commission (EFCC).

    Nwaoboshi and his two companies; Golden Touch Construction Project Ltd, and Bilderberg Enterprises Ltd are listed as respondents.

    Arguing the application, EFCC counsel, Mr George Chia-yakua, informed the court that the  application was pursuant to section 44(2)(k) of the constitution as well as Section 28 and 29 of the EFCC (establishment) Act 2004.

    The EFCC counsel informed the court that the Commission received a petition from an anti-corruption group, ‘Anti-Corruption and Integrity Forum’, against the senator and his Companies on alleged money laundering.

    The EFCC stated that upon receipt of the petition several investigations were carried out.

    It said it included making enquiries from the Code of Conduct Bureau, banks, Delta State Governor’s office, Delta State Tenders Board, Nigeria Customs Service, and Lagos State Ministry of Lands.

    It said that investigations were also made at the Federal Inland Revenue Services, and Corporate Affairs Commission (CAC), with a view to tracing movement of funds suspected to be proceeds of Illegal activities.

    The EFCC stated that in 2010, the Tender Board of Delta State awarded a contract to the Senator’s second company to purchase new construction equipment for Delta State Direct Labour Agency.

    It said that this was at the sum of N1.58 billion, adding that rather than buying new equipment, the company only imported and supplied used equipment, while the Delta State government fully paid for new one.

    It further stated that upon investigation, it was revealed that the Senator moved the proceeds to various accounts linked to him, and his company bidded and bought the said 12 storey building formerly known as Guinea House, located at 27, Marine Road, Apapa.

    It said this was for the sum of N805 million, through the use of his first company, Golden Touch Construction Project Ltd.

    The commission also stated that further investigation revealed that the Senator’s Bank Verification Number had about 20 bank accounts while his private companies had about 23 bank accounts.

    It therefore, urged the court to grant the application, in order to prevent the disposal of the building pending the conclusion of investigation and when a criminal charge will be filed against the respondents.

    After listening to the submissions of counsel to the applicant, justice Anka ordered that the 12-storey building located at 27, Marine Road, Apapa, Lagos, be temporary forfeited to the federal government pending the outcome of its Investigation.

  • FG reduces number of days for businesses registration

    FG reduces number of days for businesses registration

    …Also company registration to be done within 24 hours

     

    Towards ease of doing business in Nigeria, the government has reduced the number of days required for registration of new businesses in Nigeria from 10 to 2.

    It also okayed a 24-hour timeline for company registration from when application form is completed and all required documents made available.

    Prospective business owners can also search on Corporate Affairs Commission (CAC) portal   (www.cac.gov.ng) to avoid duplication of names and prevent selection of prohibited names.

    Company registration also no longer requires lawyers as it is now optional for SMEs to hire lawyers to prepare registration documents.

    These were among the highlights of a report presented at a Presidential Enabling Business Environment Council, PEBEC, meeting held at the Presidential Villa, Abuja on Monday.

    The meeting, according to a statement by the Senior Special Assistant on media and publicity, Laolu Akande, marked the end of the 60-day Action Plan on Ease of Doing Business in Nigeria reforms.

    The Council established by President Muhammadu Buhari is chaired by Vice President Yemi Osinbajo.

    But Monday’s meeting was chaired by Transportation Minister Rotimi Amaechi, as the Vice President was busy with the work of the Presidential Investigative Panel.

    According to the report, CAC has introduced single incorporation form (CAC1.1) to save time and reduce costs while the agency has introduced document upload interface on its website to enable e-submission of registration documents.

    Other aspects of the reforms now actualized in the last 60 days include the Integrated FIRS e-payment solution into CAC portal to enable e-stamping while the reform empowers CAC internal lawyers to certify company incorporation forms and conduct statutory declaration of compliance for a fixed fee of N500.

    According to the report, the PEBEC listed “Dealing with construction permits, Getting electricity, Registering Property, Getting Credit and Paying Taxes,” as some of the areas where the council has recorded progress in the past 60 days.

    The report also highlighted the completed reforms on the “Entry and Exit of People,” indicator which includes Simplified Visa-on-Arrival process, Infrastructural improvements at the Abuja airport, and the new Immigration Regulation 2017.

    It also indicated that the completed reforms are being closely monitored to ensure diligent implementation with minimal disruption while pending reforms are being escalated to ensure completion in the coming weeks.

    On Trading across Borders, some of the completed reforms include palletisation of imports, advanced cargo manifests, reduction in documentation requirements and scheduling of Joint Physical Examination by the Customs Service.

    The National Action Plan contained initiatives and actions implemented by responsible Ministries, Departments and Agencies (MDAs), the National Assembly, a number of State Governments, as well as some private sector stakeholders.

    The Council emphasised that with the conclusion of implementation of the Action Plan, the next phase would involve “deepening existing reforms; completing and implementing pending initiatives; engaging with the public; validating completed reforms and kicking-off medium-term reforms.”

    The Council would also kick-start “sub-national reforms across Nigeria’s 36 states; trading within Nigeria; kick-off of initiatives and reforms improving business processes and regulations within Nigeria; and ease of movement of goods within and across regions in Nigeria.”

    Other Ministers at the meeting included Foreign Affairs Ministers Geoffrey Onyeama, Minister of State for Industry Trade & Investment Aisha Abubakar, and her counterpart in Budget & National Planning Zainab Ahmed.

    Other government dignitaries at the meeting included the Head of Service, Mrs Winifred Oyo-Ita, and several heads of MDAs.

    The report was presented by Dr. Jumoke Oduwole, Senior Special Assistant to the President on Trade & Investment.

     

  • 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.

  • Association seeks FG’s support in popularising organic agriculture

    The Association of Organic Agriculture Practitioners of Nigeria (NOAN), on Thursday, urged the Federal Government to support its efforts in popularising Organic agriculture (OA) in Nigeria.

    The Association’s National President, Prof. Victor Olowe, made this appeal in an interview with the News Agency of Nigeria (NAN) on the sideline of the association’s Annual General Meeting (AGM) in Ibadan.

    The NOAN president urged the government to increase the contribution Organic Agriculture was making in the Growth Enhancement Scheme of agriculture, to enable the association achieve its goal.

    Olowe noted that OA was essential for the development of agriculture in the country, adding that it could improve farmers’ incomes with a lot of health benefits.

    According to him, the association has registered with the Corporate Affairs Commission (CAC) with the aim to improve the livelihoods of stakeholders, especially farmers in agriculture.

    “We are affiliated with the International Federation of Organic Agriculture Movements; we co-ordinate all organic agriculture related activities in the country.

    “Currently, we are handling the Ecological Organic Agriculture (EOA) project initiative in Nigeria, we train farmers the best practices on OA, provide them inputs and attend to their challenges,” he said.

    Olowe, who is a Professor of Agronomy, disclosed that NOAN would be restructured to address national issues on OA, adding that plan was underway to recruit more staff into the association’s secretariat.

    Also speaking, the EOA Country Project Coordinator, Dr Olugbenga Ade-Oluwa, said that small scale farmers had been empowered on how to do organic farming while producers had also been linked to organic markets.

    Ade-Oluwa noted that states’ Agricultural Development Programmes in South-West had received support in capacity building to perform extension services in organic farming through EOA project.

    “Currently, we are expanding our activities to Northern Nigeria and gradually to Eastern Nigeria,” he said.

    He, however, remarked that raising funds for the sustainability of the project beyond donor-funding period was one of its major challenges.

     

  • Lawyers urge sack of CAC chief

    Lawyers urge sack of CAC chief

    • ‘Its cheap blackmail’

    Lawyers under the aegis of accredited Corporate Affairs Commission (CAC)  have asked for the removal of the Registrar General, Corporate Affairs Commission (CAC) Mahmoud Bello and its management team, as activities in the commission have  been stalled for the past two months.

    One of the lawyers who spoke with The Nation reporter during the protest, Kenneth Osaze said the CAC has been making empty promises, stating that the Registra General must resign as services in the commission is getting worst.

    He said: “The Registrar General and his management team should resign since they cannot meet up with their promises.  We have lost clients and revenue,  yet there has not been any explanation from the CAC. There is practically nothing happening in the commission.  Lawyers now lose clients;  we now appear like fools in front of our clients.

    “On name search and availability,  we have put in for this procedure for over two months now and it still has not come, In fact, someone fainted on queue waiting for name search. For six weeks we have been on the line and nothing is happening.”

    Reacting to the allegations,  Bello said its cheap blackamil orchestrated by unseen hands bent on frustrating the Commission. He said no service had been paralysed for two months but only had hitches for two weeks. He said the reason for this is that the vendor the commission was using shut the commission’s system down making the system inaccessible, adding that it was shortly after getting part payment for work  done.

    Bello said: “He did that because the Minister of Industry, Trade and Investment Mr. Olusegun Aganga brought in a new company to manage the software of the commission  and now that the Commission is switching to a new software, we had an agreement with the old vendor that we will continue our contract with his company, but he still went ahead and shut down the system.

    “I gave him assurance, even wanting to go into written agreement with him, but he was not convinced. I assured him we will continue to do business, but he still went ahead and shut the system,  stating that he cannot imagine someone else coming with a new software to take over his job.  Luckily, CAC has a database which the new vendor used for installation;  that is what has helped the commission.

    “I want to categorically state that there is no law stating that it is only lawyers that can register a company. For lawyers registering a company, it is an internal arrangement.  The government has given the go ahead for any one to register his company without the help of a lawyer.”

    Bello said it was obvious that there were lots of unseen hands working against the management of the Commission.