As part of measures to ensure Nigeria improves on Ease of Doing Business through effective business Registration process, the Corporate Affairs Commission, CAC said about 1.5 million companies are registered in its data base.
The commission whose Primary role is to regulate the registration,supervision and management of companies in Nigeria said,it has also embarked on key reforms which focuses on: direct registration of companies by subscribers;creation of Public Search Window;decentralisation of operations and review of service timelines.
These measures, the commission said is to ensure businesses don’t encounter hitches in business registration processes,which is in line with the focus of the Presidential Enabling Business Environment Council (PEBEC)
Bello Mahmmud, the Registra General informed newsmen on Monday in Abuja that the commission has been embarking on key reform initiatives to ensure business registration processes comply with globally acceptable standards.
The Registra said, “The commission is implementing the revised timelines for registration services as follows: Name reservation is now 12 hours from submission of request. New registration of companies, Business names and incorporated trustees-24 hours from filing application. The commission now opens for transaction from 8.00am to 7.00pm from Monday–Friday in six states”
In order to ensure seamless operation of the company Registration Portal and zero downtime,the Registra informed that the commission has concluded the process of transferring the hosting of its database and operating software to Main-one-Data Centre in Lagos.”This will ensure 99% uptime this efficient registration services,”he said.
Meanwhile, the Registra also informed that the CAC will no longer accept physical submission of new applications for registration in six state offices.He listed the offices in which only online applications now apply to include Enugu,Kaduna,Kano,Lagos,Port Harcourt and Abuja.
Speaking further on safeguard measures to address threats of fraudsters,he said, “If you are registering your business directly,you must have created an account on company registration portal.You already have your log in details.So,any application you are submitting,the portal moves information about you,and makes you ‘first director’ which cannot be altered.
So, the question of non professionals hijacking the business registration processes,does not arise at all”he assured.
On. Number of companies so far delisted,he said,” in 2008, 9,341 companies were delisted by the commission. In 2006,about 46 000 companies were also de listed;for the Law states that if there is a reasonable cause to believe that the company is not carrying on business,it would be delisted.
He further clarified stating further that the fact that a company has been delisted does not mean that it could not re-apply.
BusinessDay findings revealed that training is currently on-going for Lawyers, chartered accountants,Chartered Secretaries of the commission who are working on the Commission’s portal to ensure that they are well equiped.
HARRISON EDEH, ABUJA
